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Archive: 17 October 2024

Posts in 17 October 2024

Understanding the Fundamentals: Key Drivers of International Markets

October 17, 2024 930 Views 0 comment Print

#AD Grasping the fundamentals of international markets is crucial for navigating the global investment landscape. Key drivers like economic indicators, geopolitical events, and market sentiment shape market dynamics and influence investment opportunities. By understanding these core elements, you equip yourself to make informed decisions and strategically position your portfolio to capitalize on global market trends. […]

Delay in filing of an appeal condoned as delay was not intentional or deliberate: ITAT Surat

October 17, 2024 891 Views 0 comment Print

ITAT Surat condoned the delay of 159 days in filing of an appeal as delay in filing appeal is not intentional nor deliberate and assessee was prevented by sufficient reason for not filing an appeal on time.

Liability of signatory in cheque dishonour not absolved because of resolution proceedings against company

October 17, 2024 768 Views 0 comment Print

Directors/ signatories cannot escape from their penal liability by citing its dissolution, only the accused company is dissolved and director/signatory cannot be permitted to go scot-free after the approval of resolution plan.

Rejection of claim of input tax credit based on web report without complying with circular no. 5/2021 untenable

October 17, 2024 984 Views 0 comment Print

Madras High Court held that order passed rejecting the claim of Input Tax Credit on the basis of the web report set aside for fresh consideration since order was passed without complying with procedure stipulated in circular no. 5/2021 dated 24.02.2021.

Interest on debit/ credit balances of supplier and contractors is taxable as business income: ITAT Ahmedabad

October 17, 2024 597 Views 0 comment Print

ITAT Ahmedabad held that interest on loans and advance to small advances on debit/ credit balances of suppliers and contractors are incidental to business hence taxable as business income and not as income from other sources.

MCA Imposes Penalty for Inadequate Office Setup, Lacking Operations, Staff & Documentation

October 17, 2024 1743 Views 0 comment Print

Rhino Finance Pvt Ltd faces penalties for failing to maintain a proper registered office as per the Companies Act, 2013.

Statutory Auditor Fails to Make Proper Audit Report Qualifications: MCA Imposes Penalty

October 17, 2024 2811 Views 0 comment Print

Ministry of Corporate Affairs penalizes a statutory auditor for failing to make appropriate qualifications in the audit report for Rhino Finance Pvt. Ltd.

Food Safety and Standards (Contaminants, toxins and Residues) First Amendment Regulations, 2024

October 17, 2024 2325 Views 0 comment Print

FSSAI amends regulations on contaminants, toxins, residues in food. New limits set for wheat, meat, milk, and more. Effective from April 2025.

Food Safety and Standards (Prohibition and Restrictions on Sales) first Amendment Regulations, 2024

October 17, 2024 1263 Views 0 comment Print

FSSAI amends sales regulations on Multi-Source Edible Oil, limiting package size and removing AGMARK certification requirements. Notification dated 17th Oct 2024.

Customs Digitization of Bonded Warehouse Procedures

October 17, 2024 1446 Views 0 comment Print

CBIC digitizes customs bonded warehouse procedures, enabling online warehouse licenses, bond transfers, and monthly return submissions via ICEGATE.

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