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Say Hi to stock trading & mutual fund investment with Geojit WhatsApp Channel

September 14, 2020 5148 Views 0 comment Print

While spending immeasurable time on WhatsApp everyday, people can now take care of their short-term or long-term financial needs using that popular messaging app. Geojit Financial Services Ltd., one of the leading investment services companies in India, has made it possible with the launch of their custom-made WhatsApp channel. Developed by Geojit Technologies, the unique WhatsApp channel has […]

Section 54/54F- Purchase of under construction flat from builder- Purchase or Construction?

September 14, 2020 36210 Views 1 comment Print

The issue under consideration is whether agreement for construction of house interpreted as agreement for purchase for availing benefits of deduction u/s 54F if construction completed within three years?

100% of Bogus Purchase cannot be disallowed as Sales are linked with Purchases

September 14, 2020 11616 Views 0 comment Print

The issue under consideration is whether the CIT is correct in restricting the disallowance u/s 69C against bogus purchase at rate of 12.5% of the bogus purchases?

Not to declare petitioner as NPA till Further Order: SC

September 14, 2020 7539 Views 0 comment Print

Gajendra Sharma Vs Union of India (Supreme Court ) The issue under consideration is whether the interest will be charged on loan during moratorium period which is declared by RBI due to COVID-19? As per RBI’s circular dated 27th March, 2020 the RBI has extended the moratorium period from June 01 to 31st August, 2020 […]

SC Sustains Imposition of Restrictions on Import of Peas & Pulses

September 14, 2020 1437 Views 0 comment Print

Union of India Vs Agricas LLP and Others etc. (Supreme Court) In the instant case, the Writ Petition is filed by challenging the imposition of restrictions on import of Peas and pulses. As per petitioner, the notifications issued by the DGFT had the effect of modifying or amending the EXIM policy as the specified items […]

ICAI – Clear Assessment if applying for membership after 3 years

September 14, 2020 54345 Views 6 comments Print

ICAI proposes following Draft Regulations which provides that A Chartered Accountants has to appear and pass the Assessment if applying for membership after 3 years of clearing CA Finals or Members who have not renewed their membership for 3 years.

Tenant is Deemed Owner in case of Long Term Lease & Rent Taxable as House Property Income

September 13, 2020 12522 Views 0 comment Print

whether assessee is considered as monthly tenant or deemed owner of the premises u/s.27(iiib) read with Section 269UA(f)(i) of the Act and accordingly whether rental income is taxable u/s.22 as ‘income from house property’ or not?

Depreciation charge must to Claim Section 80IB Deduction

September 13, 2020 855 Views 0 comment Print

whether depreciation is mandatory to be granted while determining the Appellant’s entitlement to the deduction under Section 80IB of the Act, even though the Appellant had not claimed such depreciation?

Clarification on Asset Allocation of Multi Cap Schemes of Mutual Funds

September 13, 2020 834 Views 0 comment Print

SEBI has issued a circular dated September 11,2020 on Multi Cap schemes of Mutual Funds, requiring them to invest a minimum of 25% each in Large, Mid and Small Cap stocks, with the balance 25% giving flexibility to the fund manager.

Extension of time for holding AGM for FY ended on 31.03.2020

September 13, 2020 1035 Views 0 comment Print

Ministry of Corporate Affairs for considering ICSI’s representations favorably and granting relaxations in timelines for holding of AGM for the Financial Year ended on March 31, 2020.

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