"26 August 2022" Archive

Penalty u/s 271(1)(c) not leviable on committing bona fide mistake

Deco Mica Limited Vs JCIT (ITAT Ahmedabad)

Held that the mistake in not adding back the loss on sale of fixed assets in computation of income was a bona fide mistake inadvertently. Accordingly, penalty u/s 271(1)(c) not imposed....

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Amendments to guidelines for preferential issue and institutional placement of units by a listed REIT

Circular No. SEBI/HO/DDHS/DDHS_Div3/P/CIR/2022/0116 26/08/2022

Post allotment, the REIT shall make an application for listing of the units to the stock exchange(s) and the units shall be listed within two working days from the date of allotment...

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SEBI amends Guidelines for preferential issue & institutional placement of units by listed InvITs

Circular No. SEBI/HO/DDHS/DDHS_Div3/P/CIR/2022/0115 26/08/2022

Post allotment, the InvIT shall make an application for listing of the units to the stock exchange(s) and the units shall be listed within two working days from the date of allotment...

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Late fee u/s 234E for delay filing of TDS return not leviable prior to 01.06.2015

Thomas Abraham Vs ITO (ITAT Bangalore)

Held that late fee u/s 234E for delayed filing of return of TDS not leviable while processing a return of TDS for the assessment years prior to 1.6.2015....

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In depth study on RCM Liability for Guarantee given by Directors to Company

Personal guarantee executed by director for term loan or cash credit facilities enjoyed by the Company shall not be chargeable to GST, if it is in the nature of a service provided by an employee to an employer in the course of or in relation to employment. Therefore, in this case there is no tax payable under Reverse Charge Mechanism by c...

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Posted Under: Income Tax |

Working as CRC Executive at Central Registration Centre, MCA – FAQs

The Institute of Companies Secretaries of India offers the position of CRC Executive to Young Company Secretaries as per its MOU with CRC, Ministry of Corporate Affairs (MCA). FAQ based upon the above post for which vacancies are released from time to time. 1. Who is eligible to be appointed as a CRC Executive? Member […]...

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Posted Under: Income Tax |

Edible Oil producers to declare net quantity volume without temperature in addition to declaring in weight

Edible Oil producers to declare net quantity in Volume without temperature in addition to declaring the same in weight The Department of Consumer Affairs vide its press Release dated 25 August 2022 notified amend the Legal Metrology (Packaged Commodities) Rules 2011. It is advised by Centre that the Edible Oil Manufacturers/ Packers/ Impo...

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Posted Under: Income Tax |

Analysis of Legal Metrology (Packaged Commodities) (Third Amendment) Rules, 2022

The Department of Consumer Affairs vide its press Release dated 25 August 2022 notified Legal Metrology (Packaged Commodities) (Third Amendment) Rules, 2022 to amend the Legal Metrology (Packaged Commodities) Rules 2011. The objective behind the amendment is promoting ease of doing business and reducing the compliance burden for the garme...

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Posted Under: Income Tax |

Maharashtra Goods and Services Tax (Amendment) Act, 2022

Maharashtra Act No. XXXIX of 2022. 26/08/2022

In pursuance of clause (3) of article 348 of the Constitution of India, the following translation in English of the Maharashtra Goods and Services Tax (Amendment) Act, 2022 (Mah. Act No. XXXIX of 2022), is hereby published under the authority of the Governor. By order and in the name of the Governor of Maharashtra, SATISH […]...

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All About Trademark Opposition

After the registrar has accepted the trademark application on the basis of distinctiveness and published the third-party opposition's trademark in the journal, trademark opposition in India occurs at a later stage....

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Posted Under: Income Tax |