The Reserve Bank of India has introduced an Ombudsman Scheme for Digital Transactions, 2019 (the Scheme). It is an expeditious and cost-free apex level mechanism for resolution of complaints regarding digital transactions undertaken by customers of the System Participants as defined in the Scheme. The Scheme is being introduced under Section 18 Payment and Settlement […]
Due date for furnishing of FORM GSTR – 7- TDS Return for the months of October, 2018 to December, 2018 Further extended till 28.02.2019. Form GSTR 7 (TDS Return Filing Under GST) Due Date extended to 28th February 2019 from earlier due date of 31st day of January, 2019 MINISTRY OF FINANCE (Department of Revenue) […]
RESERVE BANK OF INDIA Date : Jan 31, 2019 Prompt Corrective Action Framework On a review of the performance of Public Sector Banks (PSBs) currently under the Prompt Corrective Action Framework (PCAF), it was noted that a few banks are not in breach of the PCA parameters as per their published results for the quarter […]
Once the financial statements were ratified by the shareholders, assessee had no right to modify the profit declared as per Companies Act and adopt differently for the purpose of MAT provisions. Therefore, the profit adopted by the company in the AGM overlooking the qualification of auditor was the final book profit for the purpose of section 115JB, assessee could not alter the same by claiming that it had not followed certain Accounting Standards.
As you are aware that the Government has put in the public domain the Revised GST Law on 26th November 2016. In this regard, please find attached our e-book on Revised GST law containing:
YES Bank, founded by its current CEO Rana Kapoor, is the fifth largest private lender in the Indian Banking Sector. Rana Kapoor will be succeeded by Ravneet Gill, head of Deutsche Bank’s Indian operations. The transition is supposed to take place before 1st of March, 2019. Mr. Gill started his career by joining the erstwhile […]
As per section 149 of Companies Act 1956, every public company and other specified companies are required to get certificate for commencement of business to start its business after getting certificate of incorporation. However, this requirement was not applicable to a private company as per section 149(7)(a) of Companies Act 1956, they can start their […]
M/s Balaji Health Care Pvt. Ltd. Vs ITO (ITAT Jaipur) Conclusion: Reopening of assessment by AO on basis of report of Investigation Wing that assessee was beneficiary of accommodation entries in the form of share capital/premium/loan during the financial year was not justified as AO had not carried out any further examination and analysis in […]
Partners’ remuneration from firm should not be subject to the application of presumptive interest rate under section 44AD as the same could not be construed as gross receipts or turnover of a business independently carried on by a partner.
Fresh matters verified on Friday in the post lunch session, Saturday, Monday and Tuesday in the pre-lunch session i.e. upto 1.00 P.M. shall be listed on Friday in the same week and those verified on Tuesday in the post lunch session, Wednesday, Thursday and Friday in the pre-lunch session e. upto 1.00 P.M. be listed on Monday in the next week.
