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Archive: 20 December 2023

Posts in 20 December 2023

MCA Penalizes CS for Digitally Signing MGT-7 without Completed Statutory Audit

December 20, 2023 1005 Views 0 comment Print

MCA Penalizes CS for digitally signing MGT-7 Completed Statutory Audit. Read the Adjudication Order for Penalty u/s 454(3) of the Companies Act to find out more!

Non-Resident’s Salary Receipt in NRE Account for Overseas Services Not Taxable in India

December 20, 2023 3534 Views 0 comment Print

The key issue is whether the salary, directly remitted from a foreign company to the assessee’s Non-Resident External (NRE) account in India, is taxable in India.

NFRA debars S. Kumars Nationwide Limited auditor for 5 years & imposes penalty

December 20, 2023 5772 Views 0 comment Print

NFRA has debarred auditor of S. Kumars Nationwide Limited (SKNL) for a period of five years. This decision comes as a result of investigations conducted under Section 132(4) (c) of Companies Act, 2013.

All About Leave Cash Encashment: Rules and Tax Implications

December 20, 2023 6813 Views 2 comments Print

Explore the meaning of leave encashment, types of leaves, tax calculations, and exemption rules. Learn how to maximize benefits at retirement. Practical example included.

Section 80D of Income Tax | Deduction related to Medical Insurance

December 20, 2023 5739 Views 0 comment Print

Discover the benefits of Section 80D of the Income Tax Act, providing deductions for health insurance premiums and preventive healthcare expenses. Learn who is eligible, covered expenses, and essential points for claiming deductions. Prioritize your well-being while reducing your tax burden

CBDT Notifies new Safe Harbour Rules for Intra Group Loans

December 20, 2023 3450 Views 0 comment Print

CBDT issued Notification No. 104/2023-Income Tax, introducing significant amendments to the Safe Harbour Rules for Intra Group Loans.

Salary Receipt in NRE Account by Employee on International Routes Not Taxable in India

December 20, 2023 1725 Views 0 comment Print

ITAT) Agra delivered a significant judgment in the case of Arvind Singh Chauhan Vs ITO, challenging the taxability of salary received by an employee working on international routes.

SC Ruling on Canon India Pvt Ltd: Section 96 of Finance Act, 2022 & subsequent Madras HC’s Decision

December 20, 2023 13776 Views 0 comment Print

Explore the SC ruling on Canon India Pvt Ltd, dissecting Section 96 of Finance Act, 2022, and the subsequent Madras High Court decision. Unravel the background, impact of the Finance Act, and insightful analysis, shedding light on the ongoing legal intricacies

House Arrest Period Counts in Custody Calculation for PMLA Accused Bail: Bombay HC

December 20, 2023 627 Views 0 comment Print

Bombay High Court grants bail to PMLA accused, considering house arrest period. Detailed analysis of the judgment and its impact on custody calculations.

Subway Finance & Investment Co Ltd. Penalized for late-filing of annual return

December 20, 2023 528 Views 0 comment Print

Explore the penalty order under Section 454 of the Companies Act, 2013 against Subway Finance & Investment Co Ltd for violation of Section 92. Details on the adjudication process, findings, and consequences.

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