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Archive: May, 2023

Posts in May, 2023

Matter resorted to find out specification of term ‘every month’ in clause 38 of EPF scheme

May 25, 2023 2340 Views 0 comment Print

ITAT Mumbai resorted back the matter to AO with direction to find out from the relevant PF authorities about the term every month as mentioned in Clause 38 of the Employees Provident Fund Scheme (EPF Scheme).

IFSCA constitutes Precious Metals Advisory Committee (PMAC)

May 25, 2023 585 Views 0 comment Print

It was announced in the Union Budget 2018-19 that the Government would formulate a comprehensive Gold Policy to develop gold as an asset class and establish a consumer-friendly and trade-efficient system of regulated gold exchanges in the country.

TDS provisions not applicable on Year end Provisions in absence of ascertainable amount & identifiable payee,

May 25, 2023 20700 Views 0 comment Print

ITAT held that in the absence of an ascertainable amount and identifiable payee, the machinery provisions of recovering tax deducted at source falls flat

71 FAQs on Investigations by SFIO & Inspector under Companies Act, 2013

May 25, 2023 6847 Views 0 comment Print

Explore 71 FAQs on Investigations by SFIO & Inspector under Companies Act, 2013. Understand SFIO’s powers, duties, and the organizational structure for effective fraud detection and legal actions in India.

Emergence of Social Stock Exchange Concept in India

May 25, 2023 1764 Views 0 comment Print

A Social Stock Exchange (SSE) is a platform or marketplace where social enterprises and organizations that generate positive social and environmental impact can raise capital through the issuance of securities.

Budget 2023 Key Highlights Applicable From AY 2024-2025 (From Income Tax Perspective)

May 25, 2023 7890 Views 0 comment Print

Explore the key highlights of Budget 2023 applicable from AY 2024-2025, including the introduction of the definition of Joint Commissioner and provisions related to Electronic Gold Receipts and its conversion.

MGT-14 in respect of approval of Board Report not filed- MCA imposes penalty

May 25, 2023 17580 Views 0 comment Print

Penalty imposed by MCA on Yuva Nidhi Company Limited for non-compliance of MGT-14 filing regarding Board Report approval

Lessee being service receiver is liable to pay service tax to lessor

May 25, 2023 2586 Views 0 comment Print

Karnataka High Court held that lessor is merely obliged to collect the service tax and remit it to the department. A lessee being the person who avails of service is liable to pay service tax to the lessor.

GST: Turnover relating to different states needs to be assessed separately

May 25, 2023 1014 Views 0 comment Print

Andhra Pradesh High Court held that turnover of same assessee in different states cannot be assessed by department of one State. Accordingly, turnover relating to bus business for the States of Andhra Pradesh, Telangana, Tamilnadu and Puducherry needs to be assessed separately.

Clarification on the classification of product DHA Algal oil

May 25, 2023 2931 Views 0 comment Print

CBIC issued Instruction No. 18/2023-Customs regarding the classification of DHA Algal oil. The instruction aims to bring uniformity in the classification of imported products such as Algal Oil or Algal Oil powder, which contain varying concentrations of DHA (Docosa Hexaenoic Acid) extracted from marine algae. The product, along with impurities and stabilizing ingredients, is used […]

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