This is not the first time wherein GUJ RERA has given an opportunity to the defaulting promoter to opt for the VCS scheme. Various VCS scheme has been notified by GUJ RERA giving remedy to the Promoters. All the defaulting promoter shall take note of the VCS scheme as various suo-moto order has been passed GUJ RERA for non-compliance of Quarterly return and a penalty as high as Rs 1,25,000/- has been charged.
Intellectual Property Rights (IPR) is the need of hour. Almost all the businesses have this Intangible Property in Form of IPR. The topic of the Article signifies when is the right time to take the IPR and Why we should take the IPR? Without wasting more time, let’s get into it. What is IPRs? IPR […]
COVID -19, lead to Supply-Chain Disruptions & Blockages that has a Significant Economic Effect, Health, Safety and Social Impacts Globally – like Delivery Delays, Increased Costs, Shortage of Labor, Shortage of Inputs, Shut down of Operations, Health Issues of People, Job Loss, Income for Survival, Increased Inflation etc… etc…. and created a lot many uncertainties. […]
Checklist for Incorporation of Foreign Subsidiary / Wholly Owned Subsidiary in India Following details are required for WOS (to be incorporated) 1. Authorized Share Capital 2. Paid- up Capital 3. Per share value (Face value) 4. Number of Shareholders 5. Registered Office Address 6. Phone No. & Mail id of the Company 7. Copy of […]
Foreign Currency – transfer of shares (FC-TRS) FCTRS : 1. The Form FC-TRS shall be file within 60 days from the date of receipt/date of payment of the amount of consideration. 2. There will be no official fee for filing of form FC-TRS, if the form is filed within 60 days . 3. Form shall […]
In order to promote transparency and simplifying the tax return filing process, CBDT vide Notification dated May 28, 2020 has amended Form 26AS vide Sec 285BB of Income Tax Act, 1961 r.w.r.114-I of Income Tax Rules, 1962 w.e.f. 01.06.2020. The new Form 26AS is an Annual Information Statement or AIS which will provide a complete […]
SCN Quashed – Denial of ‘transitional credit’ of cesses on basis that Explanation 3 to Section 140 – Godrej & Boyce Mfg. Ltd. (Bombay High Court) Ruling delivered recently by the Bombay High Court in case of Godrej & Boyce Mfg. Co. Ltd. (‘Petitioner’/’Godrej’). Background of the Case: The Petitioner had sought relief from the […]
In the Budget for FY 2021-2022, Finance Minister Mrs. Nirmala Sitharaman announced that an Asset Reconstruction Company Limited (ARC) and Asset Management Company (AMC) will be set up to deal with the stressed assets of the public sector banks. In this background, Finance Minister announced the establishment of National Asset Reconstruction Company Ltd (NARCL) a government backed Bad Bank along with IDRCL (India Debt Resolution Company Ltd)
Held that explanation 5 to section 43B has prospective effect. Hence, learned NFAC is not justified in disallowing the belated remittance of employees contribution to PF/ESI but paid within the due date of filing the return of income under the normal provisions of the I.T. Act.
Brief facts: Some employees (management as well as non-management cadre) who are in the payroll of group companies are working for Parent company. Group companies recover cost of such employees from Parent company by raising debit note on actual cost basis. Issue: Whether reimbursement of salary paid by Parent company to group companies would be […]
