Understand the intricacies of RERA Section 4(2)(l)(D) requiring real estate promoters to deposit 70% of funds in a separate account. Explore the purpose, compliance process, and the role of professionals like architects, engineers, and CAs. Learn about the regulations, rules, and directions issued by RERA authorities, ensuring transparency and protecting the interests of real estate consumers.
CESTAT Chennai held that claim of wrong availment of abatement via ST-3 returns doesn’t amount to mis-declaration. Hence, extended period of limitation cannot be invoked and demand for normal period sustained.
ITAT Mumbai held that disallowance of delayed payment of employee’s contribution to PF and ESIC in terms of section 36(1)(va) is incorrect claim apparent from any information in the return. Accordingly, adjustment is permissible under the scope of section 143(1).
CESTAT Chennai held that duty burden is shifted to the appellant unit only because facility under rule 12BB is opted. Also, penalty under section 11AC of the Central Excise Act, 1944 unwarranted when duty liability is paid with interest.
SEBI has issued a master circular for Credit Rating Agencies (CRAs) encompassing guidelines, obligations, and code of conduct. This article provides an overview of the circular, its purpose, and its applicability to registered CRAs, debenture trustees, and issuers of various securities. Stay informed about the regulatory framework in place for CRAs in India.
Andhra Pradesh High Court held that motor vehicles deployed to Central Deposit Yard Premises are not subject to Motor Vehicle Tax and are entitled to get exemption as contemplated in Motor Vehicles Act.
RBI provides an update on the withdrawal of ₹2000 denomination banknotes. As of June 30, 2023, 76% of the ₹2000 banknotes in circulation have been returned. Learn more about the current status and the next steps for depositing or exchanging these banknotes.
Gujarat High Court held that if the company has ceased to exist as a result of the approved scheme of amalgamation then in that case, the jurisdictional notice issued in its name would be fundamentally illegal and without jurisdiction.
Ministry of Finance has issued a notification amending the National Savings (Monthly Income Account) Scheme, 2019 by National Savings (Monthly Income Account) (Fourth Amendment) Scheme, 2023. Learn about the changes made, including revised maximum investment limits. Stay updated with the latest amendments to this savings scheme.
Ministry of Finance has issued a notification amending the Post Office Savings Account Scheme, 2019. Learn about the changes introduced, including an increase in the number of adults allowed for joint accounts and new provisions for withdrawals. Stay updated with the latest amendments to the savings account scheme.
