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General Manager and/or Planner/Supervisor of Accused Companies, without any specific role attributed and the role played by them in their capacity, they cannot be arrayed as an accused, more particularly they cannot be held vicariously liable for the offences committed by Accused.
In any tax system registration is the most fundamental requirement for identification of tax payers ensuring tax compliance in the economy. Registration of any business entity under the GST Law implies obtaining a unique number from the concerned tax authorities for the purpose of collecting tax on behalf of the government and to avail Input […]
OPC Annual Compliance Form and Due date AOC-4 : Within 180 days from the closure of financial year i.e., 27th September of every year. MGT-7A : Within 60 days from the date of entry (signing) of resolution served by the member to adopt the financial statements in the minutes book. [deemed date of AGM as […]
The recent generation has been inclined towards a completely new area of professions where people follows their hobbies to make their own livelihood rather than going for conventional jobs. One such job is video blogging i.e. Vlogging. DISTINCTION OF INCOMES FROM VLOGGER You-tubers are the niche creative people who creates their videos in specific areas […]
MEANING OF SPECIAL ECONOMIC ZONE (SEZ): A Special Economic Zone (SEZ) is a zone wherein businesses enjoy simpler tax and easier legal difficulties. It is located in a country’s national borders only, but they are treated as foreign territory for tax purpose. They are treated as foreign territory for tax purpose is the main reason […]
What is Income Tax Audit & what does different section indicates under Income Tax Audit (Section like 44AB OR 44AD OR 44ADA) WHAT IS TAX AUDIT? There are different types of audit under different laws such as company audit, statutory audit, cost audit conducted under Companies Act, 2013, Income Tax Act etc. In Income Tax […]
Sinochem India Company Pvt. Ltd. Vs Union of India & Ors. (Bombay High Court) In Sinochem India Company Pvt. Ltd. v. Union of India & Ors. [Writ Petition (L) No. 13894 of 2021] and in Hindustan Unilever Ltd. v. The Union of India & Ors, [Writ Petition (L) No. 8163 of 2021] involve a common […]
Request for Proposal for Appointment of Chartered Accountant/Cost Accountants Firm as Internal Auditor of PFRDA for the F.Y.2021-22. Please Read Corrigendum given at the end first . +-PENSION FUND REGULATORY AND DEVELOPMENT AUTHORITY (PFRDA) Request for Proposal for Appointment of Chartered Accountant/Cost Accountants Firm as Internal Auditor of PFRDA for the F.Y.2021-22 PENSION FUND REGULATORY […]
The Income Tax Department carried out a search and seizure operation on 23.09.2021 on a group of four major Steel Rolling Mills based in Jalna, Maharashtra. These companies are engaged in the business of manufacturing steel TMT bars and billets mostly using steel scrap as raw material. The operation was conducted in more than 32 premises spread across Jalna, Aurangabad, Pune, Mumbai and Kolkata.
The initial appointment of SRBC & Co LLP, and the continuation of SRBC & Co LLP, as statutory auditor of ITNL, was prima facie illegal and void. Nevertheless, NFRA has proceeded to examine compliance by the Audit Firm with the SAs, in their performance of this Engagement, without prejudice to this finding.
