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Archive: January, 2022

Posts in January, 2022

RBI: Cyber Frauds and a survey

January 20, 2022 1863 Views 0 comment Print

Any communication from Reserve Bank of India emits a strong interest from bank account holders exhibiting a strong faith in its study, reporting, and monitoring capabilities. Its latest emit of report on cyber frauds is no exception. Its reference is given at the end. Let me recall its reference of fraud as under: “‘A deliberate […]

15 Suggestions to Rationalize/Reform/Simplify Current Income Tax

January 20, 2022 15459 Views 2 comments Print

1. BASIC EXEMPTION LIMIT & REBATE Basic exemption limit for Individual and HUF should straight increase to 6.50 lac. No need of Rebate of 12500. So remove Rebate of 87A for Rs. 12500. Please Read 3rd Point for detailed suggestion for taxation of Individuals/ HUF 2. REMOVAL OF NEW REGIME U/S 115BAC Remove New regime […]

93 JCITs assigned jurisdiction for exercise of power under Income Tax & Benami Property Act

January 20, 2022 3678 Views 0 comment Print

In pursuance to the above and in exercise of the powers conferred by Explanation to sub-section (1) of section 120 of the Income-tax Act, 1961 as also section 59 of the Prohibition of Benami Property Transactions Act, 1988 (45 of 1988), it is hereby ordered that the officers referred to in column (3) of the table hereunder, in the grade of Joint Commissioners of Income-tax shall exercise the powers and perform the functions of the Income-tax Authority, referred to in columns (4) of the table hereunder in consequence to and from the date of the order no. 352 of 2021 dated 30.12.2021 issued from F.No.A-32012/3/2021—Ad.VI and until further orders.

CS Recognised under SEBI (ICDR) (Amendment) Regulations, 2022

January 20, 2022 8124 Views 0 comment Print

The Institute of Company Secretaries of India 17th January, 2022 Dear Professional Colleague, Subject: New Recognition to Company Secretary under the SEBI (Issue of Capital and Disclosure Requirements) (Amendment) Regulations, 2022 The Institute in furtherance of its continuous endeavours to provide new opportunities to its members has been sending suggestions on various draft rules, regulations, […]

Treat Mobile Retail & Service as Essential Category

January 20, 2022 612 Views 0 comment Print

For the benefit of all we as a responsible association request your kind intervention in helping convert the Mobile retailers into Essential Category or for the purpose of Lockdowns treat this trade as Essential and al­low to open retail for service during lockdown. This way our retailers shall be allowed to open shops during the lockdowns not only to serve the requirements of community, earn their livelihoods but also to contrib­ute in the building of economy.

BYJU’S – An Unlit Nutshell of Indian Tutelage

January 20, 2022 2502 Views 0 comment Print

On an average an Indian parent run through approx. rupees 1.50 lakh on a child’s education in india. The Indian ed tech industry is worth 2.8 billion. Byju’s is world’s 13th most valuable startup and world’s largest ed tech decacorn with its valuation standing around $21 billion. In preceding seven years it has acquired more […]

ICAI Campus Placement Programme for Newly Qualified CAs

January 20, 2022 51988 Views 2 comments Print

Registration for December, 2021 (November 2021 cycle) pass out candidates begins on 15th February’22 and will end on 21st February’. Candidates who passed out prior to December, 2021 (November 2021 cycle) but could not apply in regular campus due to certain reasons, specified below, are now eligible for February-March’22 campus and their online registration begins on 1st February’.

Dormant Companies

January 20, 2022 19146 Views 0 comment Print

SECTION 455 OF COMPANIES ACT 2013 DORMANT COMPANY:- Where a company is formed and registered under this Act for a future project or to hold an asset or intellectual property or if company is an inactive company, may make an application to the Registrar in such manner as may be prescribed for obtaining the status […]

Classification of GPON ONT (Gigabit Passive Optical Networks Optical Network Termination))

January 20, 2022 5352 Views 0 comment Print

In re Netlink ICT Private Limited (CAAR Mumbai) M/s. Netlink ICT Private Limited filed an application on 30.08.2021 seeking advance rulings on the classification of GPON ONT and applicability of Sr. No. 13P of the Notification No. 24/2005-Customs, dated 01.03.2005 or Sr. No. 421 of Notification No. 50/2017- Customs, dated 30.06.2017 on the said device. […]

Constitution of Committees to advise the authority for writing off of arrears of Excise Duty, Service Tax and Customs Duty

January 19, 2022 4656 Views 0 comment Print

Circular No-1080/01/2022-CX. No- 296/63/2020-CX.9 Government of India Department of Revenue Central Board of Indirect Taxes and Customs ********* Room No-267D, North Block, New Delhi, 19th January, 2022 All Principal Chief Commissioners/Chief Commissioners of ST & CX, All Principal Chief Commissioners/Chief Commissioners of Customs All Principal Director Generals/Director Generals, CBIC Sub: Writing-off of arrears of Central […]

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