Acceptance of Deposits by a private company: A private company has limited sources of funds available, unlike public and listed companies. Deposits are one of the major sources of liquidity for any private company because raising deposits is an easy, quick, and economical way of raising funds as compared to other sources of finances for [...
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Finance Bill 2023 has proposed various amendments in provisions related to charitable trusts and institutes. The proposed amendments and the background for those proposals are elaborated as under, 1. Due date of filing form 9A and 10: It is proposed that the due date for furnishing Form No. 9A and 10 would be 2 months […]...
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Haji Abdul Gani Khan Vs Union of India (Supreme Court of India) -
Supreme Court held that Article 3 of the Constitution of India provides that Parliament may by law form new States and alter the areas, boundaries or names of the existing States (which includes Union Territory)....
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Maharashtra State Financial Corporation Ex-Employees Association & Ors Vs State of Maharashtra & Ors (Supreme Court of India) -
Supreme Court held that employees who secured VRS benefits and left the service of MSFC voluntarily during this period, stand on a different footing. They cannot claim parity with those who worked continuously, discharged their functions, and thereafter superannuated....
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The FTDR Act contains the provision for appeal for obvious reason & I have been pursuing for long that the Foreign Trade Policy as well as the Handbook of Procedures contain specific details about the appeal but then the DGFT would avoid any accountability therefore the appeal is only specifically allowed in respect of RCMC […]...
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Lok Developers Vs DCIT (Bombay High Court) -
Notice Issued on Secondary E-Mail Id Despite Having Primary E-Mail Id and Email Id Mentioned in the Last Filed ITR is Liable to be Quashed- Bombay High Court...
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Compliance no 1: Generating Awareness on Availability of Dispute resolution mechanism at Stock Exchanges against Listed Companies/RTAs Applicability : Listed Entities. Action required by Listed Entities : Listed Companies are required to send the intimation in coordination with the RTA’s to all shareholders holding shares in phy...
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What is HRA- House Rent Allowance HRA is paid to Salary individuals by the employer. HRA exemption can be claimed only by Salaried Individuals residing in rented places hence any salaried individual not residing in a rented place cannot claim this exemption. An important point to note that the HRA exemption is available only if […]...
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Government of India to clear entire pending balance GST compensation of Rs. 16,982 crore for June’2022. GST Council adopts report of Group of Ministers (GoM) on GST Appellate Tribunal with certain modifications. GoM report on Capacity Based Taxation and Special Composition Scheme in certain Sectors on GST approved. Changes in GST rates ...
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Ajay Engineering and Agricultural Equipment Company Vs PCIT (ITAT Pune) -
Ajay Engineering and Agricultural Equipment Company Vs PCIT (ITAT Pune) ITAT Pune held that AO did not specifically discuss the five issues in the assessment order, however, assessment order does not satisfy the second condition of being prejudicial to the interest of the Revenue. Simply non-discussion of an issue in assessment order does...
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