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Archive: January, 2023

Posts in January, 2023

Is Trading In Vouchers Taxable In India under GST?

January 11, 2023 8889 Views 1 comment Print

Learn the answer to the question: Is Trading In Vouchers Taxable In India under GST? Get 50% off using vouchers and save money today!

Overview of Form INC-20A

January 11, 2023 30669 Views 2 comments Print

Get the scoop on Form INC-20A Learn all about the new Companies (Amendment) Ordinance and the requirements for obtaining a commencement of business certificate. Overview of Form INC-20A

IBBI penalised IP for not providing correct information to Board about ineligible resolution applicant

January 10, 2023 975 Views 0 comment Print

The DC notes that in the CIRP-4 filed by Mr. Subrata Monindranath Maity with the Board on 16.04.2021, he had stated that ‘Number of persons who were ineligible as per Section 29 (A) – 0’ whereas in the 15th CoC meeting held on 11.02.2021 (prior to submission of CIRP – 4 form), it is mentioned […]

MahaRERA: Introduction of real estate agent training and certification

January 10, 2023 4167 Views 0 comment Print

With effect from 01.05.2023, only those real estate agents who have a valid MahaRERA Real Estate Agent Certificate of Competency can apply for MahaRERA real estate agent registration / renewal of registration.

SOP to deal with Customs clearance of fresh fruit consignments

January 10, 2023 1542 Views 0 comment Print

Grievances have been received from Trade and Customs Brokers highlighting the issue of delay in examination and clearance of consignments of fresh fruits.. especially in view of the perishable nature of such fresh fruits, where verification or investigation is being done by SIIB (I) or CIU, JNCH,

Introduction of future contracts on Corporate Bond Indices

January 10, 2023 552 Views 0 comment Print

In order to enhance liquidity in the bond market and also to provide opportunity to the investors to hedge their positions, SEBI had constituted a working group of representatives of NSE, BSE and MSEI to make recommendations on the matter of ‘Derivatives on Bond Indices.’

Reopening of assessment for contingent nature of addition unsustainable

January 10, 2023 3996 Views 0 comment Print

ITAT Kolkata held that addition cannot be made on protective basis in the reopened assessment proceeding as the assessment cannot be reopened for a contingent nature of addition.

Commodity transactions in regular course of business are not speculative transaction

January 10, 2023 3504 Views 0 comment Print

ITAT Mumbai held that commodity transactions carried out as regular business transaction cannot be treated as speculative transaction. Accordingly, the loss incurred from the same is treated as normal business loss.

Revisional power unjustified as detailed inquiry conducted by AO

January 10, 2023 786 Views 0 comment Print

ITAT Chandigarh held that invocation of revisional power under section 263 of the Income Tax Act unjustified once detailed inquiry conducted by AO on the matter. 

Section 194J not apply to services not requiring specific professional skill/expertise

January 10, 2023 3606 Views 0 comment Print

ITAT Raipur held that service of tabulation, checking and preparation of marksheets and other computer assisted work doesn’t require any specific professional skill or expertise. Therefore, provisions of section 194J of the Income Tax Act are not attracted.

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