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Archive: May, 2023

Posts in May, 2023

All about Indian Partnership Act, 1932

May 13, 2023 5517 Views 0 comment Print

Explore the intricacies of the Indian Partnership Act, 1932. Learn about the key elements, types of partnerships, duties of partners, rights and liabilities, property of the firm, and dissolution procedures. Dive into the legal nuances governing partnerships in India.

All about Indian Contract Act, 1872

May 13, 2023 4650 Views 0 comment Print

Explore the Indian Contract Act, 1872, its key provisions, and types of contracts. Understand the essentials of a valid contract, different offers, acceptance, and rules for communication. Delve into the principles of free consent, privity of contract, and rules governing agreements involving minors and persons of unsound mind. Gain insights into contract discharge, remedies for breach, and the nuances of contingent contracts and quasi contracts.

How to Incorporate Private Limited Company on V3 portal?

May 13, 2023 16272 Views 1 comment Print

Learn the steps to incorporate a Private Limited Company on the V3 portal with reduced documentation. Discover the major differences between V2 and V3, including digital authentication and real-time validation. Stay informed about changes in Part A and Part B of the incorporation forms.

Foreign insurance policy not declared in return- Bonafide mistake – Penalty deleted

May 13, 2023 1593 Views 0 comment Print

Addl. CIT Vs Tejal Ashish Mehta (ITAT Mumbai) The assessee has furnished a copy of Income Tax return for assessment year 2016-17. A perusal of the same shows that in Schedule – EI, wherein the assessee was required to declare exempt income, the assessee has duly reflected the maturity value of the insurance policy. The […]

Special All-India Drive against Fake Registrations under GST

May 13, 2023 48870 Views 0 comment Print

Discover the details of the Special All-India Drive against Fake Registrations under GST initiated by CBIC. Get insights into the guidelines outlined in the instruction dated 04.05.2023, covering the period, identification of fraudulent GSTINs, information sharing mechanism, action by field formations, feedback reporting, and the National Coordination Committee’s role. Stay informed about the measures to combat fake registrations and protect government revenue. Learn about the weekly reporting format and essential precautions for registered persons.

NCLT cannot refuse admission of section CIRP application if default occurred: SC

May 13, 2023 2481 Views 0 comment Print

SC held that once NCLT is satisfied that default occurred, no discretion left with NCLT to refuse admission of Section 7 CIRP application

SC limits CIRP to only one project of Supertech – Upheld NCLT direction

May 13, 2023 2094 Views 0 comment Print

SC upheld NCLT interim directions, including constitution of CoC for Eco Village Project-II only; the said project to be completed with assistance of ex-management whereas other projects, apart from Eco Village-II, were ordered to be continued as ongoing projects.

Big Relief – Strike off of Company without Annual Filing

May 13, 2023 22119 Views 0 comment Print

As per Section 560, a company desirous of getting its name struck off has to apply to Registrar of companies in e-form 61. All pending statutory returns are required to be filed along with e-form 61.

Recent Updates In GST till 12th May 2023

May 13, 2023 43467 Views 0 comment Print

Stay informed with the latest updates in GST as of May 12, 2023. Explore economic reviews, rating agency insights, Calcutta High Court rulings, CBIC guidelines on fake registrations, e-invoice timeline deferment, and more. Get comprehensive information on amnesty schemes, advisory on timely filing of GSTN returns, and the CBIC drive to detect fake registrations. Access details on the Internship Scheme in CBIC and the process for obtaining Digital Signature Certificates (DSC). Keep your knowledge up-to-date with the most recent developments in the GST landscape.

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

May 12, 2023 2037 Views 0 comment Print

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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