"22 September 2023" Archive

NPS Tier II Default Scheme: Enhanced Options for Government Subscribers

Circular No. PFRDA/2023/27/Sup-CRA/08 22/09/2023

PFRDA introduces NPS Tier II Default Scheme exclusively for Government Sector Subscribers, offering flexibility, easy withdrawals, and seamless transfers. Learn more....

MCA imposes Rs. 10 Lakh Penalty for Violation of Section 42(2) & 42(7) of Companies Act 2013

Order No. ROC/D/ADJ/SECTION 42/SOLARGRIDX/3646-3650 22/09/2023

MCA imposes a Rs. 10 Lakh penalty on Solargridx Ventures Private Limited and its Directors for violating Sections 42(2) and 42(7) of Companies Act 2013....

CBDT notifies Interest on Loan to NBFCs under Section 43B(da) of Income Tax Act

Notification No. 80/2023-Income Tax [S.O. 4193(E).] 22/09/2023

Central Board of Direct Taxes (CBDT) has recently issued a crucial notification concerning the payment of interest on loans to Non-Banking Financial Companies (NBFCs) under Section 43B(da) of the Income Tax Act. This notification, dated September 22, 2023, brings forth significant implications for both NBFCs and borrowers. Ministry of Fin...

CBDT’s Notification No. 79/2023 on NBFC Classification for Income Tax

Notification No. 79/2023-Income Tax [S.O. 4192(E).] 22/09/2023

Explore recent notification (No. 79/2023) from Ministry of Finance regarding classification of non-banking financial companies (NBFCs) for income tax purposes....

Atomic Minerals Concession (Amendment) Rules, 2023

G.S.R. 682(E). 22/09/2023

Ministry of Mines introduced amendments to Atomic Minerals Concession Rules, 2016. Learn about changes, penalties for non-compliance, and their impact on mining activities....

MHA Amends Foreign Contribution Rules & Forms: NGOs Must Disclose Assets

Notification No. G.S.R. 683(E). 22/09/2023

Ministry of Home Affairs (MHA) has updated the Foreign Contribution (Regulation) Rules. NGOs must now report details of movable and immovable assets created from foreign contributions. Learn more about these changes....

Excise Duty Payable Under Section 4(i)(a) on Pro Rata Value of Physician Samples Sold to Distributor

Sun Pharmaceuticals Industries Limited Vs C.C.E. & S.T.-Vadodara-ii (CESTAT Ahmedabad)

CESTAT Ahmedabad's ruling on excise duty for physician samples sold to dealers for free distribution to doctors. Analysis of Sun Pharmaceuticals vs. C.C.E. & S.T.-Vadodara-ii case....

Section 10A(5) deduction eligible if audit report is filed before framing of assessment

CIT Vs Axis Computers (India) Pvt. Ltd (Delhi High Court)

Delhi High Court's interpretation of Section 10A(5) of the Income Tax Act regarding eligibility for deduction when audit report is filed before assessment....

HC Quashes Order Denying Delay Condonation for ITR Filing After 20 Years

Sri Kailash Chand Agarwal Vs Principal Commissioner And Another (Allahabad High Court)

Allahabad High Court's ruling on ITR filing delay after 20 years. Analysis of Sri Kailash Chand Agarwal vs. Principal Commissioner case....

Collection, Cleaning, Segregation & Stacking of Blasted Raw Magnesite is ‘Mining Services

KRSS Manpower Service Vs Commissioner of GST & Central Excise (CESTAT Chennai)

CESTAT Chennai ruling on classifying magnesite collection as mining services. Analysis of KRSS Manpower Service vs. Commissioner of GST & Central Excise....

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