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Archive: 10 January 2023

Posts in 10 January 2023

NRIs can link their NRE/NRO accounts with UPI using Foreign Mobile Phone: NPCI

January 10, 2023 2619 Views 0 comment Print

NATIONAL PAYMENTS CORPORATION OF INDIA Circular No. NPC1/UP1/0C/161/2022-23 Dated:10th, January 2023 To All Members participating in Unified Payment Interface (UPI) Madam/Sir, Sub: Extension to UPI circular NPCl/UPI/OC No.60/208-19 Crediting/Debiting Non-Resident (NR) accounts in UPI We invite reference to our circular NPCl/UPI/OC.No 60/2018-19 dated 15th October, 2018 on “Crediting/Debiting Non-Resident (NR) accounts in UPI and IMPS […]

Expense reduced from export turnover should also be reduced from total turnover for calculating deduction u/s 10AA

January 10, 2023 1215 Views 0 comment Print

Infosys Ltd Vs ACIT (ITAT Bangalore) ITAT Bangalore held that expenditure reduced from export turnover should also be reduced from total turnover while computing deduction under section 10AA of the Income Tax Act. Facts- During the relevant previous year, the assessee had incurred brand building expenses of Rs.81,79,53,112/-. The brand building expenditure were in the […]

CBI Arrests Income Tax Officer & CA on Allegations of Bribery of Rs. 2.25 Lakh

January 10, 2023 4980 Views 0 comment Print

CBI Arrests An Assistant Valuation Officer of Income Tax And An Auditor/CA on The Allegations of Bribery of Rs. 2.25 Lakh The Central Bureau of Investigation has arrested an Assistant Valuation Officer, Income Tax Valuation Cell, Chennai and an Auditor/Chartered Accountant in a bribery of Rs. 2.25 Lakh. A case was registered against a Superintending […]

Joint Ventures: An Overview

January 10, 2023 13689 Views 0 comment Print

Joint ventures are a combination of partners with a purpose to develop a profitable project with shared ownership, risks & returns. Understand a Joint Venture with this post by @author.

Form 10F – Information to be provided under Section 90(5) & 90A(5)

January 10, 2023 113304 Views 3 comments Print

Form 10F is an Income Tax form which reduces Non-resident Tax payer’s TDS rate in India. Learn what details are needed to file Form 10F & how to obtain Tax Residency Certificate.

Lower risk with Higher yield – Investing in SBI Infrastructure Bond

January 10, 2023 4581 Views 2 comments Print

Explore the benefits of lower risk with higher yield via investing in SBI Infrastructure Bond. Get insights into infrastructure projects from India’s premier bank – State Bank of India.

Online registration of units through MCA portal for ESI registration & inspection of units

January 10, 2023 3681 Views 0 comment Print

Register your unit for ESI registration & inspection on MCA portal quickly & easily. New Companies registered from Feb. 15th 2020 comply with the Act mandatorily, regardless of thresholds limits.

Reverse charge not applicable as supply of ISO tankers by foreign supplier amounts to deemed sale

January 10, 2023 927 Views 0 comment Print

CESTAT Delhi held that supply of ISO Tankers on lease/rental basis by foreign suppliers to the appellant would amount to a deemed sale and accordingly reverse charge not applicable on the same under ‘supply of tangible goods for use’.

ROC penalises eligible company for not appointing Internal Auditor

January 10, 2023 2985 Views 0 comment Print

During the course of Inquiry, it is observed that Company is eligible company to appoint Internal Auditor but failed to do so as per the requirement Section 138 of the Companies Act, 2013 read with Rule 13 of the Companies (Accounts) Rules, 2014. As the turnover of the Company Exceeded 200 crores during the financial […]

MCA imposes penalty for delay in submission of Form INC-22

January 10, 2023 5328 Views 0 comment Print

This Office has received communication from the 0/0 the Stamp and Registration Office, Government of Gujarat, Gandhinagar, Gujarat 382016 vide their letter dated 04.04.2022 informing that their office has issued letter to the company on 30.05.2020, 10.07.2020, 09.09.2020, 05.11.2020 and 10.12.2020 and Notice dated 05.08.2021, 13.09.2021, 07.10.2021 and 01.11.2021 and 01.01.2022 regarding payment of adequate […]

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