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Archive: 07 May 2022

Posts in 07 May 2022

CBDT inserts new Rule 2DCA Computation of minimum investment & exempt income for Section 10(23FE)

May 7, 2022 8037 Views 0 comment Print

CBDT inserts new Rule 2DCA Computation of minimum investment & exempt income for Section 10(23FE) vide Notification No. 50/2022-Income Tax Dated 6th May, 2022 and also – -Substituted Form No. 10BBB [See rule 2DB] – Intimation by Pension Fund of investment under clause (23FE) of section 10 of the Income-tax Act, 1961 -Substituted Form No 10BBC […]

SEBI constitutes advisory committee on Environmental, Social & Governance matters

May 7, 2022 1755 Views 0 comment Print

Securities and Exchange Board of India Press Releases No. 15/2022 SEBI constitutes advisory committee on Environmental, Social and Governance (ESG) matters 1. SEBI has constituted a committee for advising on ESG-related matters in the securities market. The members of the committee are: S. No. Name Designation 1. Chair of Committee – Mr. Navneet Munot CEO, HDFC […]

India@100 – Insurance for all 

May 7, 2022 1539 Views 0 comment Print

Insurance Regulatory and Development Authority of India (IRDAI) is continuously engaging with the stakeholders of the insurance industry in order to set out a reforms agenda for increasing insurance penetration and facilitating sustainable growth of the industry.

Relax time period for Resubmission of forms in LLP V3 modules – ICSI requests

May 7, 2022 10848 Views 2 comments Print

ICSI request MCA to grant relaxation of time period for resubmission of Forms for easing the stakeholders in this transition period to the new V3 Module, to allow one time opportunity for resubmission of forms which are NOT TAKEN ON RECORD and to allow waiver of additional fees for various LLP Forms upto 30.05.2022; and […]

Absolute confiscation not permissible for gold jewellery carried by an eligible passenger

May 7, 2022 5589 Views 0 comment Print

The appellant falls into the criteria of an eligible passenger. He is thus allowed to import gold jewellery upto 10 kilograms by paying appropriate customs duty. The currencies seized from him are sufficient to pay the customs duty for the gold carried by him.

Section148 Notices not become invalid merely for issue under old law: SC

May 7, 2022 3771 Views 0 comment Print

SC rules that Section148 Notices issued under old law remain valid. Taxpayers cannot use change in law as an excuse to escape proceedings.

Monthly GST Updates for the Month of May 2022

May 7, 2022 3222 Views 0 comment Print

Stay up to date with the latest GST updates for the month of May 2022. Learn about changes in GSTR-1 and Annual Aggregate Turnover computation.

Bagasse/Press Mud Generated during Sugar Manufacture not exempt from Excise Duty

May 7, 2022 597 Views 0 comment Print

Apex Court in the case of Balarampur Chini Ltd. (supra) and DSCL Sugar Ltd. (supra) has enunciated the principal that Bagasse/ Press mud produced during the course of manufacture of sugar cannot be treated as exempted products and the provision of Rule 6 of Central Excise Rule, 2004 cannot be applied

Employee cannot claim condonation of interruption of services to enhance their pension: SC

May 7, 2022 3288 Views 0 comment Print

Having regard to the term of service of the petitioners, they had qualifying service, making them eligible for pension as per the Pension Rules. Petitioners are thus not entitled to claim the condonation of the interruption in their services to enhance their pension.

Section 188- Related Parties- Bar of Voting Operates Only At the Time of Entering Into Contract Or Arrangement

May 7, 2022 1677 Views 0 comment Print

Bar of voting as per Section 188 of the Companies Act, 2013 on related parties operated only at the time of entering into a contract or arrangement,

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