"14 November 2021" Archive

Central Vigilance Commission (Amendment) Ordinance, 2021

Notification No. 9 of 2021 14/11/2021

In section 25 of the Central Vigilance Commission Act, 2003, in clause (d), the following provisos shall be inserted, namely,— Provided that the period for which the Director of Enforcement holds the office on his initial appointment may, in public interest, on the recommendation of the Committee under clause(a) and for the reasons to b...

Read More

Condonation of delay in filing ITR allowed as delay caused due to ‘genuine hardship’

CBDT Vs. Vasudev Adigas Fast Food Pvt Ltd (Karnataka High Court)

Delay  in filing return was condoned as CBDT, in virtually passing an assessment order on the return of income of assessee had traversed beyond the scope of its power to condone the delay under Section 119(2)(b) and had acted contrary to the provisions of Section 119(2)(b)...

Read More

Minority being the victim need to be protected – Prevention of Oppression & Mismanagement

Minority being the victim need to be protected – Prevention of Oppression and Mismanagement Introduction This article mainly deals with oppression and mismanagement. The Companies Act, 2013 under Chapter XVI covering Sections 241 to 246 deals with Oppression and mismanagement and Class Action. Further provisions for a class action a...

Read More
Posted Under: Corporate Law |

Draconian provisions of penalty & prosecution of TDS/TCS compliance

The concept of TDS was introduced by government through Chapter-XVII-B with an aim to collect tax from the very source of income. As per this concept, a person (deductor) who is liable to make payment of specified nature to any other person (deductee) shall deduct tax at source and remit the same into the account […]...

Read More

Legal Services under GST Law

1. Definitions a. Legal Service – As per S. No. 2(zm) of Notification No. 12/2017 – Central Tax (Rate), Legal Service means any service provided in relation to advice, consultancy or assistance in any branch of law, in any manner and includes representational services before any court, tribunal or authority. b. Advocate – As per [&h...

Read More
Posted Under: Corporate Law |

Overview of Transfer Pricing

Overview of Transfer Pricing Objective: – To understand the basic concept of Transfer pricing, Transfer Pricing Audit and adjustment along with key term used in Transfer Pricing. Transfer Pricing as describe in common parlance, where one business entity does business with other associate business entity. The sheer objective of Trans...

Read More
Posted Under: Corporate Law |

SEBI tightens norms pertaining to Related Party Transactions (RPTs)

SECURITIES AND EXCHANGE BOARD OF INDIA (LISTING OBLIGATIONS AND DISCLOSURE REQUIREMENTS) (SIXTH AMENDMENT) REGULATIONS, 2021 09/11/2021

SEBI has recently amended the existing provisions pertaining to ‘Related Party’ and ‘Related Party Transactions’ vide notification of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) (Sixth Amendment) Regulations, 2021 on 9th November, 2021 to strengthen the monitoring of Related Party T...

Read More
Posted Under: Corporate Law |

Educational and Training Services

ARA, Rajasthan has pronounced judgment on 25.10.2021, in the case of Rahul Goyal, (2021) 36 J.K.Jain’s GST & VR 419, that; ‘The Services provided by the applicant to Mentors Eduserv, Bihar on “Principal to Principal” basis per Clause 13 of the agreement dated 10.2.2020 does not constitute employee-employer relation. As suc...

Read More
Posted Under: Corporate Law |

No addition on account of capitalization of royalty expenses as same is revenue in nature

Honda Motorcycle and Scooter India Pvt. Ltd. Vs ACIT (ITAT Delhi)

Payment of royalty by assessee in lieu of granting license under the royalty and technical knowhow agreement was to be treated as revenue in nature as assessee was already engaged in the manufacturing of motorcycle and Scooter and payment of royalty expenses was not with respect to setting up of manufacturing facility....

Read More

Overview of Retail Direct scheme introduced by RBI

Earlier, it was very difficult for a retail investor to invest in Government Securities (G-Sec)/Treasury Bills (T-Bills)/Sovereign Gold Bond (SGB)/State Development Loan (SDL) due to lack of information about trading/dealings in these instruments, functioning of G-Sec market and more on....

Read More
Posted Under: Corporate Law |

Search Posts by Date

November 2021
M T W T F S S
1234567
891011121314
15161718192021
22232425262728
2930