It has been further decided that no additional fees shall be levied upto 15.03.2022 for the filing of e-forms AOC-4, AOC-4 (CFS), AOC-4 XBRL, AOC-4 Non-XBRL and upto 31.03.2022 for filing of e-forms MGT-7/MGT-7A in respect of the financial year ended on 31.03.2021 respectively. During the said period, only normal fees shall be payable for the filing of the aforementioned e-forms.
Trading in EGR segment shall be permitted from Monday to Friday. Stock exchanges can set their trading hours within the time limit of 9:00AM to 11:30PM / 11:55PM (as per US day light savings in Spring/ Fall Season).
Prakash Corporates Vs Dee Vee Projects Limited (Supreme Court of India) Leave granted. 2. By way of this appeal, the appellant has challenged the order dated 09.07.2021, as passed by the High Court of Chhattisgarh at Bilaspur in WP No. 312 of 2021, whereby the High Court has upheld the order dated 22.06.2021, as passed […]
Scheme for taxation of virtual digital assets Virtual Digital Assets, especially cryptocurrencies & Non-Fungible Tokens (NFTs), have gained tremendous popularity in recent times and the volumes of cryptocurrency trading has increased substantially. With a view to bring clarity for taxation of such assets, provisions to define such assets, provide for the taxation from income arising […]
सीबीआई द्वारा कराया गया फारेंसिक आडिट वर्ष 2012-17 ने साबित कर दिया कि एक बड़े स्तर पर कंपनी और उनके निदेशकों द्वारा अवैध लेनदेन, धन का दुरूपयोग, आपराधिक मिलीभगत, साजिश, विश्वासघात, धोखाधड़ी और भ्रष्टाचार अंजाम दिया गया था. तो फिर बैंकों के समूह जो आईसीआईसीआई बैंक द्वारा लीड किया जा रहा था और जिसमें आडीबीआई […]
Micro Finance sector consisting of a verity of players that includes Non-governmental organisations ,cooperatives, self help groups , Non-Banking Finance Institutions ,some depending on donor funds and external borrowings and some other operating with savings, donor resources and external debts. These micro finance institutions are on driving seat in development of Indian economy. The Government […]
Advance Ruling was a concept roughed on in early 1970s recommended by Wanchoo committee introduced through Chapter XIXB Income Tax act via finance act,199 and from sections 245N to section 245V. The concept of advance ruling is a common institution in Europe and western countries, and the primary objectives for AAR was firstly to reduce […]
What is SME Exchange ? SME exchange is a stock exchange for trading the shares of small and medium enterprises who otherwise would find it difficult and costly to get listed in the main board of a recognized stock exchange as per SEBI (ICDR) Regulations, 2018. Stock Exchange for SME ? There are currently 2 […]
Taxation of individuals by a state works on a deeply embedded principle of giving back to the state for the services provided by the state such as good governance, welfare schemes, defense and others which are required for a state for maintenance and expansion. This principle although looks simple and efficient, requires the state to answer the basic question : How to Decide WHO to tax ? And providing theoretically and morally reasons to support taxing such individuals. One such answer given by the United States, Eritrea and Philippines is citizenship-based income tax rules.
It is amply clear that the additions under sections 68 and 69C of the Act can be made provided the transaction takes place during the previous year / financial year. Further, for making addition under section 68 of the Act, the assessee must fail to offer explanation and for making addition under section 69C of the Act, the source of the expenditure must remain unproved. In the present case, the assessee had duly explained the sources of the credit and the expenditure, respectively.
