"22 September 2022" Archive

Representation to extend due date of filing of Income Tax Audit reports

Representation to extend the due date of filing of Audit reports under Income Tax Act, 1961, from 30th September, 2022 to 31st October, 2022.  ALL INDIA FEDERATION OF TAX PRACTITIONERS Dated: September 19,2022 To, 1. Smt. Nirmala Sitharaman Ji, The Honorable Union Finance Minister, Ministry of Finance, Govt of India, North Block, New Del...

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Posted Under: Income Tax | ,

Issue and listing of Commercial Paper by listed InvITs

Circular No. SEBI/HO/DDHS/DDHS_Div3/P/CIR/2022/123 22/09/2022

It has been decided that, InvITs may issue listed commercial papers subject to the following: InvITs shall abide by the guidelines prescribed by Reserve Bank of India for issuances of commercial papers....

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Issue and listing of Commercial Paper by listed REITs

Circular No. SEBI/HO/DDHS/DDHS_Div3/P/CIR/2022/ 122 22/09/2022

n terms of Reserve Bank Commercial Paper Directions, 2017 dated August 10,2022 Real Estate Investment Trust (REIT) having net worth of INR 100 Crore or higher are eligible to issue commercial paper....

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Technical Guide on Audit of Charitable Institutions under Section 12A of Income-tax Act, 1961

Technical Guide on Audit of Charitable Institutions under Section 12A of Income-tax Act, 1961 provides guidance on audit of Public Charitable Institutions ...

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Posted Under: Income Tax |

Introduction To Appeal and Revision Related Case Law under GST

CHAPTER XVIII APPEALS AND REVISION INTRODUCTION What do you understand by Appeal? An Appeal is a continuation of proceedings/orders wherein the entire proceedings/orders are again left open for consideration by the Appellate Authorities. Brief understanding of Revision and Review? Revision: The act of Examining again to remove any defect ...

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Posted Under: Income Tax |

5 ways to maximize your portfolio’s value in 2022

There is always a narrative going on, a trend. Even in financial markets, there is a pattern that goes on for a time duration. Based on that pattern, the narration is taken into technical aspects and presented in different formats like charts and candlesticks....

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Posted Under: Income Tax |

75% deposit as pre-condition for admission of appeal under MSMED Act not complied- Writ Not Maintainable

Chemflo Industries Pvt. Ltd. Vs KMC Construction Ltd. and another (Orissa High Court)

Chemflo Industries Pvt. Ltd. Vs KMC Construction Ltd. and another (Orissa High Court) Petitioner submits, impugned is order dated 13th March, 2015 passed on the interlocutory application of his client made in arbitration petition (ARBP no. 122 of 2013), of purported challenge of opposite parties to award dated 29th January, 2011. He submi...

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Conversion of proprietary concern into a Pvt. Ltd. Company – No Capital Gains on Transfer of Goodwill acquired by incurring cost

DCIT Vs Univercell Telecommunications India-Pvt. Ltd. (ITAT Chennai)

ITAT held that even if you invoke provisions of Sec.47A(3) of the Act, to withdraw exemption granted u/s.47(xiv)(b) of the Act, but, in principle there cannot be any capital gains on transfer of goodwill, because, said goodwill is not self-generated or created on account of conversion of proprietary concern into a Pvt. Ltd. Co., but acqui...

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Company IPO – Pricing of Shares

One of the major roles of Investment banks in IPO Management is Underwriting of IPO. Underwriters not only manage the public issue, It take the risk of buying a company’s remaining unsubscribed shares to avoid the failure of IPO process charging nominal fees. If size of the issue is too big and one Investment bank […]...

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Posted Under: Income Tax |

CARO Checklist 2022

Article contains Checklist for Matters to be included in auditor’s report under Companies (Auditor’s Report) Order (CARO) as applicable for financial statement of Financial year 2021-22....

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Posted Under: Income Tax |

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