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Archive: 02 April 2024

Posts in 02 April 2024

Master Circular 2024- Income Recognition, Asset Classification, Provisioning and Other Related Matters – UCBs

April 2, 2024 5787 Views 0 comment Print

Explore RBIs updated Master Circular for Urban Co-operative Banks (UCBs) on income recognition, asset classification, provisioning, and related matters till March 31, 2024.

Exigency of Cross Border Insolvency Regime in India

April 2, 2024 1299 Views 0 comment Print

Explore necessity of uniform cross-border insolvency laws in India, analyzing proposed frameworks and key recommendations from regulatory bodies for a more effective financial landscape.

Master Circular 2024- Prudential norms on Income Recognition, Asset Classification & Provisioning pertaining to Advances

April 2, 2024 18174 Views 0 comment Print

Stay informed about RBI’s latest master circular on income recognition, asset classification, and provisioning for advances issued to commercial banks.

Income tax return filing for A.Y. 2024-25 started from 1st April 2024

April 2, 2024 4983 Views 1 comment Print

Filing for A.Y. 2024-25 has begun! Understand the process, forms, and steps needed for seamless income tax return filing in India. Start filing today!

DGFT Promotion 2023: New Senior Private Secretaries Appointed

April 2, 2024 795 Views 0 comment Print

Ministry of Commerce announces promotions against vacancy year 2023. Learn about the new Senior Private Secretaries appointed in DGFT.

ROC Compliance Calendar (2024-25)

April 2, 2024 95538 Views 1 comment Print

Stay compliant with the ROC Compliance Calendar for 2024-25. Ensure timely filing of forms like MBP-1, DPT-3, FLA, KYC, and more to meet statutory obligations.

Section 71 Inapplicable if Goods Unloaded Outside notified Area with Superintendent Permission: SC

April 2, 2024 834 Views 0 comment Print

Supreme Court held that provisions of section 71 of the Customs Act doesn’t apply when goods were not warehoused inside the notified public bonded warehouse but were unloaded outside the notified area but within factory premises and kept under a shed on permission granted by Superintended.

Sale of Online Advertisement Space Not Taxable as Royalty or FTS in India: ITAT Bangalore

April 2, 2024 1593 Views 0 comment Print

ITAT Bangalore held that payment made by Google India Pvt. Ltd. to Google Ireland Limited (assessee) for sale of online advertisement space is not taxable in India as the same cannot be regarded as royalty or FTS.

Filing Appeal Shortly Before Section 153C Assessment deadline Unjustified: Delhi HC

April 2, 2024 1182 Views 0 comment Print

Delhi High Court held that petitioner has approach the court only a few days before the time for completion of assessment u/s. 153C of the Income Tax Act would expire.

GST Registration: No Retrospective Cancellation Without Valid Reasons

April 2, 2024 1461 Views 0 comment Print

Explore the detailed analysis of the Delhi High Court ruling on GST registration cancellation, emphasizing the importance of sufficient reasons and proper procedure. Learn why retrospective cancellation must be justified.

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