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Archive: 20 October 2022

Posts in 20 October 2022

Postmortem of Union Budget 2024: A Comprehensive Webinar

July 16, 2024 3840 Views 3 comments Print

Join our webinar on July 24-25 for an in-depth analysis of Union Budget 2024. Learn about tax proposals, sector impacts, and investment insights. Register now!

Live Course on 360 degree Analysis of Input Tax Credit from a Litigation Perspective

July 14, 2024 3483 Views 0 comment Print

Join CA Sachin Jain for a live course on Input Tax Credit from a litigation perspective. Gain practical insights and master ITC complexities. Register now!

SEBI allows brokers to place bids on RFQ platform

October 20, 2022 687 Views 0 comment Print

SEBI has allowed stock brokers registered under the debt segment of the Stock Exchange(s) to place/seek bids on the Request for Quote (RFQ) platform on behalf of client(s), in addition to the existing option of placing bids in a proprietary capacity.

Processing Death Claims where Nomination is changed post death of NPS Subscribers

October 20, 2022 561 Views 0 comment Print

Nomination can be made only by the subscriber. However, there are special provisions enabled as per exit regulations for treating the nomination as made in the service records to protect the interest of the subscribers who were employed and covered under NPS through their employers.

Option to allocate 75% of NPS subscriber’s contribution in Asset Class E (Equity) in Tier-I – Reg.

October 20, 2022 645 Views 0 comment Print

PFRDA to allow option to allocate 75% of subscriber’s contribution in Asset Class E (Equity) in Tier-I under active choice without any conditions of tapering from the age of 51 years.

Non-Accrual of interest on borrowings by companies in violation of Ind AS

October 20, 2022 7014 Views 1 comment Print

NFRA Circular on Non-Accrual of interest on borrowings by the companies in violation of Indian Accounting Standards (Ind AS) It has come to the attention of the NFRA during  a disciplinary action under section 132(4) of the Act for professional misconduct of the statutory auditor (CA Som Prakash Aggarwal) of a listed company (Vikas WSP […]

Charges of clandestine removal needs to be substantiated by evidence

October 20, 2022 1254 Views 0 comment Print

CESTAT Allahabad held that clandestine removal is a serious charge and requires to be substantiated by evidence. Here, as department has not adduced any additional evidence to substantiate the allegation of clandestine removal not sustained.

Appeal challenging taxability of service against order of CESTAT lies before Apex Court

October 20, 2022 633 Views 0 comment Print

Madhya Pradesh High Court held that appeal challenging the taxability of service, against the order of CESTAT, lies before Apex Court u/s 35L of the Finance Act, 1944 and not High Court.

CBIC notifies Customs Exchange rate for Import & Export wef 21.10.2022

October 20, 2022 1458 Views 0 comment Print

CBIC notifies Customs Exchange rate for Import & Export wef 21st October, 2022 vide Exchange rate Notification No. 90/2022 – Customs (N.T.) | dated the 20th October, 2022. GOVERNMENT OF INDIA MINISTRY OF FINANCE DEPARTMENT OF REVENUE CENTRAL BOARD OF INDIRECT TAXES AND CUSTOMS New Delhi ***** Notification No. 90/2022 – Customs (N.T.) | dated the […]

Incidental benefit to AE doesn’t prove existence of international transaction

October 20, 2022 504 Views 0 comment Print

ITAT Delhi held that the main purpose of incurring of huge AMP expenses has largely benefited assessee in India, with an incidental benefit arising to foreign AE. Hence, it is very difficult to accept existence of an international transaction.

Clarification on operation of SB Pension & Joint Accounts opened by 3 adults jointly opened before 18.12.2019

October 20, 2022 420 Views 0 comment Print

If any depositor is already having one SB Pension Single Account and one normal SB Single Account opened before 18.12.2019, both the accounts can be continued in operation and they shall be treated as normal savings accounts for operation.

Draft Master Direction on Information Technology Governance, Risk, Controls and Assurance Practices

October 20, 2022 5550 Views 0 comment Print

RBI proposes to prescribe a Master Direction on Information Technology Governance, Risk, Controls and Assurance Practices, to be implemented by Regulated Entities (REs)

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