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Archive: 24 September 2021

Posts in 24 September 2021

Income-tax (30th Amendment) Rules, 2021

September 24, 2021 1797 Views 0 comment Print

(1) These rules may be called the Income-tax (30th Amendment) Rules, 2021. (2) They shall be deemed to have come into force from the 1st day of April, 2021.

Anti-Dumping investigation on imports of Peroxosulphates (Persulphates)

September 24, 2021 741 Views 0 comment Print

Case No. (AD-OI-21/2020) Anti-Dumping investigation concerning imports of Peroxosulphates (Persulphates) originating in or exported from China PR and USA.

ITAT allows deduction of CSR expenses incurred by Toyota

September 24, 2021 1890 Views 0 comment Print

Appellant, during AY 2012-2013, paid a huge amount towards provision of toilet facilities in Government Schools where the children of employees of the Appellant were studying. While filing the returns for that year, the Appellant claimed the same amount as Corporate Social Responsibility (CSR) expenses and submitted that by incurring the expenses, its productivity improves and the loyalty of its employees are also ensured.

Rajasthan CM approves proposal of restructuring of Commercial Tax Department

September 24, 2021 4155 Views 0 comment Print

Chief Minister Shri Ashok Gehlot has approved the proposal of restructuring of the Commercial Tax Department. The decision was taken looking at the changed scenario after the implementation of Goods and Service Tax (GST) and for better and effective implementation of GST in the State.

Post Incorporation Compliances for Companies

September 24, 2021 7521 Views 1 comment Print

Once the Company is incorporated, we forget about the various compliances which needs to be followed. Obtaining the Certificate of Incorporation is only a starting point for a series of compliances a company has to follow under various legislations in India from time to time. Non-compliance would lead to fines and penalties on the Directors […]

Tehsildar is not a competent person to decide distance for Capital Gain

September 24, 2021 2469 Views 1 comment Print

In so far as the certificate issued by the Tehsildar is concerned which is at page No.1A of the paper book, it does not show that from the Chidambaram how it comes to 8.5 K.M and apart from that in our view the Tehsildar is not a competent person to decide the distance.

Financial Year | Section 2(41) | Companies Act, 2013

September 24, 2021 10398 Views 0 comment Print

Section 2(41) of Companies Act, 2013- ‘Financial Year’ for any company or body corporate is – 1. a period ending on the 31st day of March every year. (not need to be 12 months for counting One financial Year.) 2. If Company incorporated on or after the 1st day of January of a year- period […]

CCI penalises beer companies for indulging into cartelisation

September 24, 2021 714 Views 0 comment Print

Competition Commission of India (‘CCI’) passed a final order against three beer companies, namely United Breweries Limited (‘UBL’), SABMiller India Limited (now renamed as Anheuser Busch InBev India Ltd. after being acquired by Anheuser Busch InBev SA/NV) (‘AB InBev’) and Carlsberg India Private Limited (‘CIPL’) for indulging in cartelisation in the sale and supply of beer in various States and Union Territories in India, including through the platform of All India Brewers’ Association (‘AIBA’).

Issue & Redemption of Preference Shares | Companies Act 2013

September 24, 2021 213726 Views 1 comment Print

Introduction There are 2 types of share in any company first is Equity shares or Common Stock and second is Preference shares or Preferred stock. Equity shareholder are considered as real owners of the Company as they have voting rights in a company while preference shareholders don’t have voting rights on all resolutions in ordinary […]

Indian Laws You Need To Know For Your Startup

September 24, 2021 13614 Views 0 comment Print

According to the startup statistics India stands second highest number of startups which seems to be increasing day by day. Given that it becomes necessary to make sure they are following the necessary legal obligations. Not complying with laws can negatively affect the company as the damages can be huge and it also impacts the […]

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