AGREEMENT OR CONTRACT? The phrases ‘agreement’ and ‘contract’ are sometimes used interchangeably. However, not all agreements are contracts, and not all contracts are agreements. Take master services agreements, for example, which, despite their name, are frequently enforceable contracts. Confused? Don’t be concerned. We’re here to help you decipher contract lingo so you don’t get them […]
WHEN IEPF-2 IS REQUIRED? The IEPF stands for Investor Education and Protection Fund, and it is used to safeguard investors, as the name suggests. We attempted to write an essay on the IEPF-2 form, as well as its criteria and timelines, in the hopes that you will find it informative and relevant. Let’s take a closer […]
Starline Organics Pvt. Ltd. Vs PCIT (ITAT Ahmedabad) On perusal of the details filed by the assessee, we note that the assessee has incurred VAT expenses on the deemed import which are eligible to be set off against the VAT output. Thus the finding of the learned principal CIT that there was no VAT input […]
Jagmohan Singh Vs DCIT (ITAT Chandigarh) In the instant case, it is not in dispute that employees’ contribution to ESI and PF collected by the assessee from its employees had been deposited well before the due date of filing of return of income u/s 139(1) of the Act. We find that the issue is squarely […]
Stirred Creative Advertising Pvt. Ltd. Vs DCIT (ITAT Bangalore) We find no merit in the argument of the ld.DR since the explanation as provided in Finance Act, 2021 prescribes that the amendment in both sec.36(va) as well as 43B by inserting corresponding explanation that although impugned PF comes in the form of provision and the […]
Section 7 Scope of supply Nature of Amendment Harsh as retrospective Impact Association, Club, Housing Society Commentary Supply of activities or transactions inter se between a person & its members or constituents shall be deemed to take place from one such person to another – hence shall be treated as a supply. Paragraph 7 of […]
As per newly inserted regulation 17(1C) the listed entity shall ensure that approval of shareholders for appointment of a person on the Board of Directors is taken at the next general meeting or within a time period of three months from the date of appointment, whichever is earlier.
Cabinet approves Memorandum of Understanding between Competition Commission of India and Competition Commission of Mauritius The Union Cabinet chaired by the Prime Minister Shri Narendra Modi has approved the signing of Memorandum of Understanding (MoU) between Competition Commission of India (CCI) and Competition Commission of Mauritius (CCM) for promotion and strengthening of co-operation in competition […]
Cabinet approves Memorandum of Understanding between Institute of Chartered Accountants of India (ICAI) and The Polish Chamber of Statutory Auditors (PIBR) The Union Cabinet, chaired by the Prime Minister Shri Narendra Modi, today has approved the signing of Memorandum of Understanding (MoU) between the Institute of Chartered Accountants of India(ICAI) and the Polish Chamber of […]
Finance Minister Smt. Nirmala Sitharaman concludes pre-Budget meetings for forthcoming Union Budget 2022-23 More than 120 invitees representing 7 stakeholder groups participated in 8 virtual meetings Union Minister for Finance & Corporate Affairs Smt. Nirmala Sitharaman chaired the pre-budget consultation meetings for Budget 2022-23 held in virtual mode from 15th to 22nd December, 2021. More […]
