"12 May 2023" Archive

Investment in units of Mutual Funds in the name of minor through guardian

Circular No. SEBI/HO/IMD/POD-II/CIR/P/2023/0069 12/05/2023

Payment for investment by any mode shall be accepted from the  the bank account of the minor, parent or legal guardian of the minor, or from a joint account of the minor with parent or legal guardian. For existing folios, the AMCs shall insist upon a Change of Pay-out Bank mandate before redemption is processed”...

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IBC: IBBI directs IP to undergo pre-registration educational course

Order No. IBBI/DC/166/2023 12/05/2023

DC warns Mr. S. Shivshanker to be more careful in handling pending assignments and he is further directed to undergo pre-registration educational course specified under regulation 5(b) of the IP Regulations from the IPA where he is registered....

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Source of cash deposit not satisfactorily explained hence addition u/s 69 sustained

Eswara Reddy Kolli Vs DCIT (ITAT Chennai)

ITAT Chennai held that addition u/s 69 towards unexplained money sustained on failure to explain the source of the cash deposits with necessary evidences....

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Process and Documents Required for Obtaining Digital Signature Certificate (DSC)

What is DSC? Digital Signature Certificate (DSC) is the most popular and convenient mode of signing any document. DSC is the digital method to sign the document. Use of DSC has been very common in the recent times. Even various regulatory authorities have made DSC a valid source for signing documents. Recently BSE has also […]...

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Posted Under: SEBI |

Amnesty Scheme for one-time settlement of default in export obligation by Advance & EPCG authorization holder

Amnesty Scheme for one-time settlement of default in export obligation by Advance & EPCG authorization holder New Foreign Trade Policy 2023 made applicable by Ministry of Commerce and Industry unwinds a New Amnesty Scheme for one-time settlement of defaults in exports obligation by Advance and EPCG authorization holder. Directorate Ge...

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Posted Under: SEBI |

Section 54F exemption eligible even if construction of new house starts before sale of original asset

Kapil Kumar Agarwal Vs DCIT (ITAT Delhi)

Kapil Kumar Agarwal Vs DCIT (ITAT Delhi) ITAT held that assessee has purchased a house property i.e. a new asset and is entitled to exemption u/s 54F of the act despite the fact that construction activities of the purchase of the new house has started before the date of sale of the original asset which […]...

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SC on clarification filed by Revenue in matter of Abhisar Buildwell P Ltd

PCIT Vs Abhisar Buildwell P. LTD. (Supreme Court of India)

PCIT Vs Abhisar Buildwell P. LTD. (Supreme Court of India) Clarification application file by Revenue on issue of permitting 148 notice dismissed by Supreme Court with liberty  to Revenue to file Review application. Further in case such review application is filed it will be heard in open court . We observe that as we have […]...

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What is Jurisprudence?

WHAT IS JURISPRUDENCE? The word Jurisprudence has been derived from the Latin term JURIS PRUDENTIA, which means ‘the study, knowledge or science of law’. Jurisprudence is the study on law. It is different from any other branches of law. It is not which is derived from the practical situations but it is finding and studying [&h...

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Posted Under: SEBI |

How to handle GST Return Scrutiny Notice-ASMT-10?

As a registered person under GST, you are required to file GST returns in accordance with the rules and regulations of GST law. However, there may be instances when you may receive a GST return scrutiny notice in ASMT-10. The given notice is issued by the department to verify the accuracy and completeness of your […]...

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Posted Under: SEBI |

Balance sheet and Profit/loss account requirement for loan purpose

In this article, we will explore the significance of balance sheets and profit/loss accounts in loan applications, examining their purpose, key components, and why lenders rely on them to assess borrowers' eligibility....

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Posted Under: SEBI |

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