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Archive: February, 2022

Posts in February, 2022

Whether Financial Creditor of Holding Company Considered as Financial Creditor of Subsidiary in Case Loan to Holding Company Is Secured by Subsidiary

February 25, 2022 4158 Views 0 comment Print

Whether Financial Creditor of Holding Company Considered as Financial Creditor of Subsidiary in Case Loan to Holding Company Is Secured by Subsidiary Anuj Jain Interim Resolution Professional for Jaypee Infratech Limited Vs Axis Bank Limited Etc. (Supreme Court), Appeal Number : Civil Appeal Nos. 8512-8527 Of 2019, Date of Judgement/Order : 26/02/2020 Sub: The case essentially […]

दवा कंपनियों और डाक्टरों की मिलीभगत पर सुप्रीम कोर्ट ने कसी लगाम

February 25, 2022 2508 Views 0 comment Print

बजट में इस बार प्रस्तावित किया गया कि दवाई कंपनियां डाक्टरों को जो भी गिफ्ट फ्रिबीज़ देंगी, वह न केवल डाक्टर की आय में जोड़ा जाएगा, साथ ही इसका खर्च कंपनियों को आयकर के अन्तर्गत मान्य नहीं होगा. इंडियन मेडिकल काउंसिल के विनियमन, 2002 के उपनियम के मुताबिक डॉक्टरों को फार्मा कंपनियां का फ्रीबी देना […]

How Will ‘Russia’s Invasion of Ukraine’ Affect Taxes & Trade in India?

February 25, 2022 3279 Views 1 comment Print

As I am penning down this piece, the market capitalisation worth Rs. 13.4 lakhs crores have already been eroded with BSE index plunging by 2700 points and NSE index tanking by 815 points, on account of Russia’s launching of a special military operation cum all-out invasion by land, air and sea of Ukraine on 24.2.2022. […]

ITAT allows Section 80IC Deduction on Interest on Electricity Deposit, Recovery from Transporters & Sundry Balances of Vendors written off

February 25, 2022 1242 Views 0 comment Print

ACIT Vs Gujarat Ambuja Exports Ltd. (ITAT Ahmedabad) The ld.counsel for the assessee at the very outset submitted that as far as amounts mentioned under the head interest on NSC and interest on staff loan is concerned they are not in dispute. The deduction claimed under section 80IC with regard to both these items have […]

Relaxation in adherence to prescribed timelines issued by SEBI due to Covid 19

February 25, 2022 1521 Views 0 comment Print

Relaxation is hereby being given to intermediaries / market participants w.r.t. compliance with the prescribed timelines which has been extended to June 30, 2022 in view of the Covid-19 situation. The aforesaid relaxation shall be applicable for items No. 1-7 mentioned at para no. 2 above.

ICAI seek exemption from levy of late fee on GSTR 9 & 9C

February 25, 2022 23709 Views 1 comment Print

 CA. Rajendra Kumar P has informed on twitter that In the interest of Trade and Industry Representation has been made by Institute of Chartered Accountants of India seeking exemption from levy of late fee on GSTR 9 and 9C filed on or before March 31, 2022. Currently due Due date of GSTR-9 and GSTR-9C for […]

Mandatory filing/issuance of RCMC/RC via DGFT platform from 01.04.2022

February 24, 2022 3915 Views 0 comment Print

Mandatory filing/issuance of Registration Cum Membership Certificate (RCMC)/ Registration Certificate (RC) through the DGFT common digital platform from 01.04.2022

Import policy of ITC (HS) 8524 & ITC (HS) 85258900 revised

February 24, 2022 8205 Views 0 comment Print

Import policy of ITC (HS) 8524 and ITC (HS) 8525 89 00 is revised from ‘Restricted’ to ‘Free’ with immediate effect. Notification No. 55 /2015-2020 Dated: 24th February, 2022

Nomination for Eligible Trading & Demat Accounts – Extension of timelines & relaxations for existing account holders

February 24, 2022 3618 Views 0 comment Print

SEBI mandated submission of nomination details/declaration for opting out of nomination for investors opening new trading and or demat account(s) on or after October 01, 2021. The circular also prescribed mandatory furnishing of the aforesaid information for all existing eligible trading and demat account holders.

Segregation & Monitoring of Collateral at Client Level – Extension of timeline to May 02, 2022

February 24, 2022 2559 Views 0 comment Print

SEBI has received requests from various stakeholders to further extend the aforesaid timeline. After consideration of the same, it has been decided that provisions of the said circular dated July 20, 2021 (apart from provisions of Paragraphs 4 and 5) shall come into force with effect from May 02, 2022.

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