"24 January 2022" Archive

Interest on Compensation payable from accident Date and Not Date of Adjudication of Claim: SC

Ajaya Kumar Das Vs Divisional Manager (Supreme Court of India)

Ajaya Kumar Das Vs Divisional Manager (Supreme Court of India) Section 4A of the Workmen’s Compensation Act 1923 stipulates that the Commissioner shall direct the employer to pay interest of 12% or at a higher rate, not exceeding the lending rates of any scheduled banks specified, if the employer does not pay the compensation within [&h...

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Position sizing for successful investing – A tool you can’t afford to overlook

Investing or trading is not just about what to buy or sell, position sizing, risk management, money management, time management, etc. are also equally required to become a successful trader and investor. In this article, I will cover one of the most important and yet overlooked ingredient of successful investing/trading and that is positi...

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Posted Under: Corporate Law |

HC granted interim relief from payment of GST for grant of mining lease/royalty 

Ratan Black Stone Vs Union of India (Jharkhand High Court)

Ratan Black Stone Vs Union of India (Jharkhand High Court) Learned counsel for the Respondents submits that earlier, this Court have been pleased to grant stay of recovery of service tax for grant of mining lease / royalty from the petitioners covered under the interim order dated 02.03.2021 passed in the batch of writ petitions […...

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Decoding Amendments To Schedule III of Companies Act,2013

The Ministry of Corporate Affairs has issued notification dated 24th March 2021( Amendment to Schedule III of Companies Act 2013 wef 01.04.2021) to enhance the disclosures required to be made by the Company in its Financial Statements, Board’s report and Auditor’s report with an objective to increase transparency and provide additiona...

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Posted Under: Corporate Law |

Decoding Income Tax on Compensation from Compulsory acquisition

Section 96 mandates that no income-tax shall be levied on any award made under the Act except under Section 46. Section 46 deals with the purchase of land by a person other than a specified person through private negotiations. The benefit of Section 96 is not available when a land is purchased through private negotiations […]...

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Posted Under: Corporate Law |

Availability of Audit Reports and Process Flow Steps In E-Filing 2.0

Article contains Process Flow Steps In E-Filing 2.0 on New Income Tax Portal For all Audit Forms including Form 15CB and Form 10CCB and it also contains List of 22 Audit Reports and mode of Submission. A. PROCESS FLOW – For all Audit Forms except Form 15CB and Form 10CCB Steps Action by Action Description Step […]...

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Posted Under: Corporate Law |

Income Tax Statutory Forms & related Services – FAQs

Article contains FAQs on Tax Audit Report (Form 3CA-CB/ Form 3CB-CD), Form 10 B, Form 29B, Form 10DA, Form 56F, Form 10E, Form 10-IE, Form 67, Form 10BA, Form 35, Form 10-IC, Form 10-IB & Form 10-ID. Tax Audit Report (Form 3CA-CB/ Form 3CB-CD) FAQ 1: While submitting Form 3CB-3CD, “Unique Document Identification Number (UDIN)” [&h...

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Posted Under: Corporate Law |

Businessman arrested for running fake ITC network

The officers of Bhiwandi Commissionerate of CGST Mumbai Zone have arrested a businessman was running a Fake GST Input Tax Credit racket. Acting on an intelligence from Central Intelligence Unit of Mumbai CGST Zone, the officers initiated coordinated action at different locations in Thane, Bhiwandi, Raigad and Mumbai and detected GST evasi...

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Posted Under: Corporate Law | ,

SC guidelines for payment of ex gratia of Rs 50000 to families of those who died due to Covid-19

Gaurav Kumar Bansal Vs Union of India and others (Supreme Court of India)

Hon’ble Supreme Court has made clear that irrespective of the cause of death mentioned in the death certificate, if a family member satisfies the eligibility criteria mentioned in paragraphs 11(i) to 11(iv) as above shall also be entitled to the ex-gratia payment of Rs. 50,000/- on production of requisite documents as observed hereinabo...

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Everything you need to know about credit score

A credit score is basically a numerical expression resulting from the level analysis of an individual’s credit files. It signifies the creditworthiness of the respective individual. In short, a credit score is a measure of an individual’s capability to pay back the debt. The credit score is more useful to the lenders like banks, credi...

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Posted Under: Corporate Law |

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