Grievance Redressal Mechanism under Chapter XII-D or XVII-B section 276B of Income Tax Act 1961 Failure to pay tax to the credit of Central Government is an offence under chapter XII-D or XVII-B section 276B of Income Tax Act, 1961. It is a serious offence in India and can subject a taxpayer to prosecution. The […]...
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India has become a hub for startups due to its supportive policies and fast-growing economy. To encourage entrepreneurship, the Indian government has introduced several initiatives, including the Startup India program, to make it easier for startups to incorporate and operate in the country....
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A Non-Banking Financial Company (NBFC) is a company registered under the Companies Act, Engaged in – Business of loans and advances Acquisition of shares/stocks/bonds/debentures/securities issued by the government or local authority or other marketable securities of a like nature Leasing Hire-purchase Insurance business Chit business Bu...
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COMPANY LAW 1. MCA circular on 21st February 2023 for further extension of time for filing of E forms without additional fee. Additional time till 31st March 2023 has been provided for filing of 45 revamped E forms without any additional fees whose due dates are between 07.02.2023 and 02.2023. Clarification has been given by […]...
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We’re smack dab in the middle of a revolution. Its name? Artificial Intelligence From creating artwork to writing code, AI models do things that were previously thought impossible. Among these models, one of the most popular is ChatGPT. An AI language model that engages in conversations, answers questions, and writes essays. Microsoft a...
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Brief highlights of the Recent Key Amendments which will become effective from April 01, 2023, and actions to be taken by the respective Companies for the same. Reg. no Provision Actionable 2(1)(zb)(b)(ii) – Definition of “related party” Provision: any person or any entity, holding equity shares of ten percent or more, with effect f...
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Section 194S imposes TDS on transfer of crypto currency, NFT and other VDAs (Virtual Digital Assets) w.e.f. 1st July 2022...
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Financial trading companies are mainly brokerage firms who are offering clients the ability to trade on multiple markets including Forex, stocks, crypto, CFDs, and more....
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Rochem India Pvt. Ltd. Vs Union of India (Bombay High Court) -
Bombay High Court held that as per Circular No. 132/2/2020-GST dated 18 March 2020 dealing with non-constitution of Appellate Tribunal. It is clarified that the appeal to tribunal can be made within three months (six months in case of appeals by the Government) from the date of communication of order or date on which the President or the ...
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DCIT Vs Cairn Energy Hydrocarbon Ltd (ITAT Delhi) -
ITAT Delhi held that investment done from the surplus funds in FDs has nothing to do with the business connection. Accordingly, interest received from the same is to be treated under separate head i.e. Income from other sources and not as business income....
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