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Exit option to dissenting unit holders under SEBI (InvIT) Regulations

July 17, 2020 993 Views 0 comment Print

Manner and mechanism of providing exit option to dissenting unit holders pursuant to Regulation 22(5C) and Regulation 22(7) of SEBI Infrastructure Investment Trusts Regulations, 2014 (SEBI (InvIT) Regulations) Securities and Exchange Board of File CIRCULAR SEBI/HO/DDHS/DDHS/CIR/P/2020/122 July 17, 2020 To, All Infrastructure Investment Trusts (“InvITs”) All Parties to InvITs All Recognised Stock Exchanges All Merchant […]

Section 292BB is applicable to assessee & not to a legal representative

July 17, 2020 5709 Views 0 comment Print

In the absence of a statutory provision it is difficult to cast a duty upon the legal representatives to intimate the factum of death of an assessee to the income tax department. After all, there may be cases where the legal representatives are estranged from the deceased assessee or the deceased assessee may have bequeathed his entire wealth to a charity.

Section 10(46) exemption to Real Estate Regulatory Authority, Bihar

July 17, 2020 624 Views 0 comment Print

Notification No. 49/2020- Central Government notifies Real Estate Regulatory Authority, Bihar in respect of the specified income arising to the board under section 10(46) of Income Tax Act, 1961. MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF DIRECT TAXES) NOTIFICATION New Delhi, the 17th July, 2020 Notification No. 49/2020-Income Tax S.O. 2380(E).—In exercise of […]

SEBI (Prohibition of Insider Trading) (Amendment) Regulations, 2020

July 17, 2020 7095 Views 0 comment Print

1. These regulations may be called the Securities and Exchange Board of India (Prohibition of Insider Trading) (Amendment) Regulations, 2020. 2. They shall come into force on the date of their publication in the Official Gazette.

EPFO to Settle of death claims on priority basis in events of industrial accidents etc

July 17, 2020 1242 Views 0 comment Print

It is directed that in the events of any incidents of industrial accidents resulting in death of employees of a covered establishment, the concerned RPFC (in-charge of RO) is required to take immediate initiative to settle death claims of the concerned members.

Consumer Protection (Mediation) Rules, 2020

July 16, 2020 4185 Views 0 comment Print

Consumer Protection (Mediation) Rules, 2020 The parties shall not initiate any arbitral or judicial proceedings in respect of a matter which is the subject-matter of the mediation and also when such parties have expressly undertaken not to initiate any such proceeding.

Income from sale of shares is Business income or Capital gains

July 14, 2020 102043 Views 14 comments Print

This article is for better understanding of Treatment of Income from Sales of shares or other securities. Here I am explaining about the possibilities one can treat the income from sale of shares and what are the benefits of it. The article also comprises the corresponding guidelines from CBDT which are self explanatory and fiercest.

Money Laundering is an act of financial terrorism: HC

July 13, 2020 3078 Views 0 comment Print

High Court of Orissa held that The offence of Money Laundering is nothing but an act of financial terrorism that poses a serious threat not only to the financial system of the country but also to the integrity and sovereignty of a nation.

Section 2(22)(e) Deeming fiction cannot be applied on mere suspicion

July 13, 2020 13935 Views 0 comment Print

ACIT Vs Shri Gurdeep Singh (ITAT Chandigarh) The intention behind enacting provisions of section 2(22) (e) are that closely held companies (i.e. companies in which public are not substantially interested), which are controlled by a group of members, even though the company has accumulated profits would not distribute such profit as dividend because if so […]

IBBI guideline on online Education by IPAs & RVOs

July 12, 2020 738 Views 0 comment Print

Insolvency and Bankruptcy Board of India (Online Delivery of Educational Course and Continuing Professional Education by Insolvency Professional Agencies and Registered Valuers Organisations) Guidelines, 2020

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