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Archive: 09 March 2023

Posts in 09 March 2023

Maharashtra Amnesty Scheme, 2023 for Goods and Services Tax Department

March 9, 2023 108672 Views 8 comments Print

HIGHLIGHTS OF THE MAHARASHTRA STATE BUDGET SPEECH DATED 9TH MARCH, 2023 BY HONOURABLE DEPUTY CHIEF MINISTER (FINANCE) SHRI DEVENDRA FADNAVIS PART-II (A) Amnesty Scheme, 2023 for Goods and Services Tax Department announced :— > This Amnesty Scheme will be called as ‘Maharashtra Settlement of Arrears of Tax, Interest, Penalty or Late Fee Act, 2023’. > […]

Doing Business in India – FDI Policy, Entry Routes, Permitted & Prohibited Sector

March 9, 2023 32235 Views 1 comment Print

Explore the Foreign Direct Investment (FDI) Policy in India: Entry Routes, Permitted & Prohibited Sectors, Eligible Investors, and Investee Entities.

Brief understanding of Article 1 ‘Persons Covered’ of UN Model

March 9, 2023 786 Views 0 comment Print

Article 1 of United Nations Model Convention on Income and Capital (the Model) provides scope and application of Convention. It outlines the persons and entities to which the Model applies, as well as the types of taxes to which it is applicable.

Sole Proprietorship Vs Company (For New business Entity)

March 9, 2023 3246 Views 0 comment Print

Deciding between Sole Proprietorship & Company for your new business entity? Learn the key differences & make an informed decision that suits your needs best.

Preference Share Capital And Preference Capital

March 9, 2023 2634 Views 0 comment Print

Learn the distinction between preference share capital and preference capital with detailed explanations and examples, exploring their rights and interrelation.

PAN to get Inoperative with Serious Consequences if not linked with Aadhaar till 31.03.2023

March 9, 2023 7218 Views 0 comment Print

It is extremely important now that if a taxpayer having PAN and who is eligible to obtain Aadhaar, links his PAN with Aadhaar on the Income Tax portal, within 31.03.2023 or else he/ she shall be liable to all the consequences under the Act for such failure as stated above, in addition to PAN remaining inoperative.

Process for Change of Name of a Company on V3 Portal (MCA)

March 9, 2023 7722 Views 3 comments Print

Section 13 deals with Alteration of MOA. As per section 13(2) read with rule 29 of the Companies (Incorporation) Rules, 2014 name change shall be approved by the Central Government (CG). The CG has delegated the power to ROC for the same. A Company Shall file Form INC-24 to seek ROC’s approval.

Deposit of employee’s contribution to PF after due date not allowable as deduction u/s 36(1)(va)

March 9, 2023 5766 Views 0 comment Print

ITAT Mumbai held that deposit of employee’s contribution to provident fund after the due date prescribed under the relevant statue is not allowable as deduction under section 36(1)(va) of the Income Tax Act.

Short accommodation for submissions granted in case of revocation of cancellation of GST registration

March 9, 2023 456 Views 0 comment Print

Madras High Court granted short accommodation to make further submissions in the case of revocation of cancellation of GST registration.

Benefit of conclusion of proceedings u/s. 73(1A) not available due to non-payment of 25% reduced penalty

March 9, 2023 1122 Views 0 comment Print

CESTAT Chennai held that benefit of CBEC Circular F. No. 137/167/2006-CX dated 3.10.2007 vis-à-vis provisions of section 73(1A) of the Finance Act, 1994, relating to conclusion of entire proceedings on payment of service tax along with interest not available, as assessee failed to pay reduced penalty as required.

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