"18 August 2022" Archive

What Are Bonds and Different Types of Bonds

Bond is a financial instrument which is offered as a security to loans offered to an investor that are issued by a government or corporate entity....

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Posted Under: Finance |

Fixed Deposits: Best Investment or Not

Fixed deposits basically mean putting a certain amount of money for a fixed period. You can earn interest on the principal sum throughout the tenure on a cumulative basis. The interest earned gets added to the principal amount after every specific interval. The investor will get interest up to 6% of simple interest at the […]...

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Mutual Fund is a great investment option

A trust that gathers funds from various investors with a shared investing goal. The money is then invested in stocks, bonds, money market instruments, and other securities....

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Posted Under: Finance |

Representation to scrap Clause No. 44 of Tax Audit Report (Form 3CD)

Representation requesting to scrap  Clause No. 44 of  Tax Audit Report (Form 3CD) under the Income Tax Act, 1961...

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Robinson and purity Barley taxable under residual entry at 12%

Reckitt Benckiser (India) Ltd. Vs State of Odisha (Orissa High Court)

Held that distinct commercial product Robinson Barley and Purity Barley cannot be classified as cereal. Hence taxable under residual entry @12% under Orissa Sales Tax Act, 1947....

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Online account opening & closure for NSC (VIII Issue) & Kisan Vikas Patra

SB Order No. 13/2022 18/08/2022

Online account opening & closure through DOP Internet Banking for National Savings Certificates (VIII Issue) & Kisan Vikas Patra...

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Qualified Suppliers’ for supply of bullion on India International Bullion Exchange

415/IFSCA/Consolidated Operating Guidelines/2021-22 18/08/2022

QS-LPTM shall comply with the ‘fit and proper criteria’ specified under regulation 52(2) of the International Financial Services Centres Authority (Bullion Exchange) Regulations, 2020, at all times....

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Arbitration award passed rejecting the duly filed counter claim is set aside

Chennai Water Desalination Ltd Vs Chennai Metropolitan Water Supply and Sewerage Board (Madras High Court)

Held that impugned award set aside as the same was passed rejecting the counter claim, which was duly filed within the time limit, as being time barred....

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Section 60(5) vests residuary jurisdiction on NCLT to intervene in certain circumstances

Hemant Mehta Vs Asst. Commissioner of State Tax (NCLAT Delhi)

Held that the residuary jurisdiction of the NCLT under Section 60(5) (c) of the IBC provides it a wide jurisdiction and can be exercised as long as the matter is not dehors the insolvency proceedings....

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Section 80P deduction allowable If delay in ITR filing condoned by PCIT

Amasebail Vyvasaya Seva Sahakari Sangha Ltd. Vs DCIT (ITAT Bangalore)

Amasebail Vyvasaya Seva Sahakari Sangha Ltd. Vs DCIT (ITAT Bangalore) In this case, the main plea of the assessee is that assessee filed an application for condonation of delay in filing the income tax return for the assessment year 2018-19 and on this basis, exemption u/s 80P of the Act to be granted. In my […]...

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September 2022