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Archive: December, 2024

Posts in December, 2024

Denial of registration u/s. 12A and 80G without considering reply not tenable: ITAT Delhi

December 27, 2024 1746 Views 0 comment Print

ITAT Delhi held that cancellation of provisional registration u/s. 12A and 80G of the Income Tax Act as well as denial of final registration by CIT(E) without considering reply furnished by the assessee is violative of principles of natural justice.

Property purchased before commission of offence cannot be attached u/s. 5(1) of PML Act

December 27, 2024 1134 Views 0 comment Print

Kerala High Court held that provisional attachment of properties purchased before commission of offence under section 5(1) of Prevention of Money-Laundering Act, 2002 [PML Act] is ex-facie null and void. Accordingly, order attaching property quashed.

A Comprehensive Guide: Change in Capital Contribution of an LLP

December 26, 2024 17028 Views 4 comments Print

Learn the legal and procedural steps to amend capital contribution in an LLP, including partner consent, agreement updates, and MCA filings. Stay compliant with LLP Act.

Understanding OCI under IND AS/IFRS: Items and Recycling Logic

December 26, 2024 6522 Views 0 comment Print

Learn about OCI under IND AS/IFRS, its components, classifications, and the logic behind recycling. Understand its impact on financial reporting and performance.

Step by-step process for converting a private company into an LLP

December 26, 2024 4344 Views 0 comment Print

Learn the process and conditions for converting a private company to an LLP, including tax exemptions, filing forms, and regulatory approvals.

Why Timely FSSAI Certificate Download is Important for Your Food Business

December 26, 2024 987 Views 0 comment Print

Ensure your food business complies with safety regulations by timely downloading the FSSAI certificate to avoid penalties and build consumer trust.

2024 FEMA NDI Rules Amendment: Cross-Border Share Swaps

December 26, 2024 3675 Views 0 comment Print

India amends FEMA NDI Rules, simplifying cross-border share swaps for startups, enhancing global expansion opportunities and access to capital.

RBI Forms Committee for Ethical AI in Financial Sector

December 26, 2024 1578 Views 0 comment Print

RBI sets up a committee to create a framework for responsible AI use in the financial sector, focusing on governance, risks, and adoption.

Customs Notification Extends Deadline to February 28, 2025

December 26, 2024 1059 Views 0 comment Print

Ministry of Finance amends Customs Notification No. 64/2023, extending the compliance deadline from December 31, 2024, to February 28, 2025

Quantitative Restrictions on Low Ash Metallurgical Coke Imports

December 26, 2024 1671 Views 0 comment Print

Government imposes country-wise quantitative restrictions on Low Ash Metallurgical Coke imports from Jan 1, 2025, to June 30, 2025, with specific quotas.

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