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Archive: October, 2021

Posts in October, 2021

Recognition to Company Secretary in Practice under IFSCA Regulations

October 24, 2021 3060 Views 0 comment Print

Recognition to Company Secretary in Practice under the International Financial Services Centres Authority (Registration of Insurance Business) Regulations, 2021 & International Financial Services Centres Authority (Insurance Intermediary) Regulations, 2021

CBIC amends notification No. 25/2021-Customs dated 31.03.2021

October 24, 2021 5784 Views 0 comment Print

Seeks to amend notification No. 25/2021 – Customs dated 31.03.2021 vide Notification No. 51/2021-Customs Dated 22nd October, 2021. MINISTRY OF FINANCE (Department of Revenue) Notification No. 51/2021-Customs New Delhi, the 22nd October, 2021 G.S.R. 757(E).—In exercise of the powers conferred by sub-section (1) of section 25 of the Customs Act, 1962 (52 of 1962), the […]

TRAIL Panel of Auditors for Digital Addressable Systems audit

October 24, 2021 1134 Views 0 comment Print

Panel of Auditors (Updated List) to carry out audit of Digital Addressable Systems (DAS) Telecom Regulatory Authority of India F.No.21-2/2020-B&CS Date: 21.10.2021 Panel of Auditors1 (Updated list2) to carry out audit of Digital Addressable Systems (DAS) 1 In accordance with the Telecommunication (Broadcasting and Cable) Services Interconnection (Addressable Systems) Regulations. 2017, the Telecommunication (Broadcasting and […]

HC quashed final assessment order of NaFAC for denial of sufficient time

October 24, 2021 10188 Views 0 comment Print

Sureshkumar S. Lakhotia Vs National e-Assessment Centre & Ors. (Bombay High Court) In this case HC Quashed the Final assessment order passed by National Faceless Assessment Centre (NaFAC) quashed as insufficient time was not given to respond to Draft Assessment Order.  The matter is remanded back to the concerned authority to consider denovo and pass […]

All about XBRL returns for NBFC

October 24, 2021 118606 Views 2 comments Print

Reserve Bank of India has mandates all NBFC’s to file NBFC returns in XBRL mode starting from FY 19-20. I have tried to cover all possible FAQ on XRBL returns through this article in FAQ form for better understanding and quick reference; Q1 What is XBRL return? Ans. XBRL stands for eXtensible Business Reporting Language. […]

NBFC revised framework issued by RBI

October 24, 2021 5328 Views 0 comment Print

RBI on 22.10.2021 issued Revised Regulatory Framework for NBFC vide RBI/2021-22/112 DOR.CRE.REC.No. 60/03.10.001/2021-22 dated 22.10.2021 wherein following important changes has been prescribed highlights of which are as under:- Highlights 1. Cap on IPO funding by NBFC: – starting from 1.4.2022 RBI put ceiling limit of Rs. 1 crore perborrower for IPO Subscriptions. 2. Frame work […]

Tax on Transfer of Development Rights: An Indirect Tax Perspective

October 23, 2021 18615 Views 7 comments Print

1. Meaning of Transfer of Development Rights (‘TDRs’) To understand the meaning of TDRs, first of all one needs to understand the working style under the real estate sector. Under this sector various kinds of Joint Development Agreements have been entered between various parties. One such type is TDRs, where landowner offers rights in his […]

उपभोक्ता संरक्षण कानून क्यों चला गया हाशिये पर!

October 23, 2021 2139 Views 0 comment Print

केन्द्र और राज्य सरकारों की उदासीनता और निष्क्रियता के कारण भारतवर्ष में जिला एवं राज्य उपभोक्ता फोरम में अध्यक्ष और सदस्यों के खाली पड़े पदों के कारण उपभोक्ता संरक्षण आज हाशिये पर है. मध्यप्रदेश के 51 जिलों के उपभोक्ता आयोगों में पांच अध्यक्ष और 56 सदस्यों के पद रिक्त हैं। वहीं राज्य उपभोक्ता आयोग में […]

An Insight to Government Grants Act, 1895- Scope & Ambit

October 23, 2021 13030 Views 0 comment Print

It is a general and natural duty of the Sovereign to take steps towards areal development of its territories and its subjects. That is the basic reason behind creation of governance system within a territory. In past, when most of the world was witnessing monarchy as the most prominent form of governance, it was considered […]

The new definition of Small Company

October 23, 2021 382452 Views 0 comment Print

The new definition of Small Company- Know whether your company falls into Small Companies The Ministry of Corporate Affairs has notified an amendment in the Companies (Specification of Definitions Details) Rules, 2014 that came into force on 1st April 2021. The MCA (Ministry of Corporate Affairs) has effected this amendment in accordance with the proposal […]

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