2 Archive - 16 September 2022

"16 September 2022" Archive - Page 4

Revised Form DPT-3 for exempted deposits

The revised part of Form DPT-3 mainly deals with Deposit accepted from Public. One significant change in respect of exempted deposits has also been made in the Form....

Read More
Posted Under: Company Law |

The Beginning of a New Era for Insolvency Arbitration in India

Though at first glance insolvency and arbitration appear opposed, there are some circumstances when the two intersect sufficiently to warrant either legislative action or, failing that, judicial reflection....

Read More
Posted Under: Company Law |

No Section 194C TDS on payments to agents of foreign shipping companies

DCIT Vs Expeditors International [I] Pvt. Ltd. (ITAT Delhi)

Circular No. 723 dated 19.09.1995 - Section 172 applies to payments made to agents of foreign shipping companies so, section 194C not applies...

Read More

Startup India Guide 2022: Registration, Recognition & Benefits

The ‘Startup India Initiative’ was launched by the Department for Promotion of Industry and Internal Trade [DIPP], Ministry of Commerce and Industry in the year 2015, to foster the entrepreneurship spirit among the Indians and simplify the process of formation of businesses, allocating funding support and to further provide a ...

Read More
Posted Under: Company Law |

ITAT deletes section 271(1)(b) penalty for inadequate time to reply & disputes between Partners

Vinars Enterprise Vs ITO (ITAT Rajkot)

Non-response to notice is because of disputes between Partners & Inadequate time to reply, so levy of penalty u/s. 271(1)(b) deleted....

Read More

Refund allowed in Inverted Duty Structure when Goods are supplied to Govt at Concessional Rates

Telangana HC held that Refund is allowed in Inverted Duty Structure when Goods are supplied to Government at Concessional Rates (same HSN but Input at full rate)...

Read More
Posted Under: Company Law |

Operational Guidelines for DTH Broadcasting Services in India

Order No. 8/7/2020-BP&L 16/09/2022

Operational guidelines in respect of ‘License Fee’, ‘Platform Services’ and ‘Sharing of Infrastructure’ for DTH services in India. In furtherance of the amended DTH Guidelines issued on 30th December, 2020; this Ministry has issued the operational guidelines for Direct To Home (DTH) services in India. These Guidelines provide...

Read More

Case study on RCM on Renting of Residential Dwelling Unit

Facts of the case: Mr. Krsna is registered in GST in Delhi dealing in the supply of consultancy services. He takes one residential property on rent in Gurugram, Haryana. Mr. Krsna uses the property partially for residential and partially for official purposes. He provides consultancy sitting at his Gurugram residence also. The following q...

Read More
Posted Under: Company Law |

Assessment order passed against dead assessee is invalid: HC

Late Shobha Mehta Vs ACIT (Rajasthan High Court)

No notice whatsoever was issued to the legal representative/s of the assessee before undertaking the re­assessment proceedings. Thus, the impugned re-assessment and the assessment order having been passed against the dead assessee, is invalid and the same cannot be sustained in the eyes of law....

Read More

Analysis of New Clarifications on TDS under section 194R

In this Video Author discussed about the matter of TDS u/s 194R: Analysis of New Clarifications dated 13th Sept. 2022 vide Circular No. 18 of 2022-Income Tax The topic discussed on the video are listed below. Provisions under section 194R of Income Tax Act, 1961 TDS u/s 194R on Business Promotion Expenses shall be applicable […]...

Read More
Posted Under: Company Law |