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Archive: 26 April 2024

Posts in 26 April 2024

NFRA Imposes ₹60 Lakh Penalty on CMIL Auditor & Debars Auditor for 2 Years

April 26, 2024 14940 Views 1 comment Print

NFRA issues Order against Krishna Neeraj & Associates and CA Krishna Kr Neeraj for professional misconduct in CMIL’s audit, imposing penalties and sanctions.

NFRA imposes ₹1.60 Crore Penalty on RHFL Auditors & Audit Firm

April 26, 2024 35802 Views 2 comments Print

National Financial Reporting Authority’s order penalizes M/s Dhiraj & Dheeraj and auditors for misconduct in the audit of Reliance Home Finance Limited.

वित्तीय वर्ष 2023- 24 के लिए GSTR-4 में आ रही परेशानी के संबंध में

April 26, 2024 2349 Views 1 comment Print

जीएसटीR 4 में इनवर्ड सप्लाई के संबंध में परेशानी के कारण और समाधानों के बारे में जानें। कंपोजिशन डीलरों को धारा 73 या 74 में नोटिस भेजा जा सकता है।

RBI Circular: Limits for investment in debt & sale of Credit Default Swaps by FPIs

April 26, 2024 357 Views 0 comment Print

Get insights on RBI Circular 03/2024 detailing FPI investment limits for 2024-25 and guidelines for Credit Default Swaps. Stay informed with the latest regulations.

Small Finance Banks Transitioning to Universal Banks: Guidelines & Process

April 26, 2024 426 Views 0 comment Print

Learn about RBI guidelines for Small Finance Banks transitioning to Universal Banks voluntarily. Know eligibility, process, and implications

Income from Subsequent Development Grant: Long-Term Capital Gains, Not Other Sources

April 26, 2024 585 Views 0 comment Print

Sunil Pran Sikand Vs ACIT (Bombay High Court) In the recent case of Sunil Pran Sikand Vs ACIT before the Bombay High Court, a crucial question arose regarding the tax treatment of income derived from subsequent development grants. This case sheds light on the intricate balance between categorizing such income as long-term capital gains or […]

No Section 43B(a) disallowance for Delayed Statutory liability/MVAT Discharge

April 26, 2024 948 Views 1 comment Print

Royal Drinks Pvt Ltd Vs ITO (ITAT Nagpur) Interest liability incurred against delayed discharge of statutory liability/MVAT is entitled for deduction u/s 37(1) without subjecting it to disallowance u/s 43B(a)

Redevelopment of Co-operative Societies: Tax implications

April 26, 2024 30036 Views 1 comment Print

Understanding the intricacies of co-operative society redevelopment: What assets are involved, what constitutes transfer, tax implications for members and societies.

Addition for excessive shortage not sustainable if trading account accepted to be correct

April 26, 2024 495 Views 0 comment Print

Addition for excessive shortage not sustainable if trading account of assessee are accepted to be correct and complete and AO Cannot make addition of profit under Section 41(2) on assumptions and presumptions

Valuation of Securities under Income Tax Act and challenges

April 26, 2024 2790 Views 0 comment Print

Explore the complexities of securities valuation under the Income Tax Act. Understand the rules, challenges, and practical insights with expert analysis

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