Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for Personal Guarantors to Corporate Debtors) Regulations, 2019 issued by IBBI on 20th November, 2019. Also Read-IBBI notifies Regulations for Insolvency Resolution and Bankruptcy Proceedings of Personal Guarantors to Corporate Debtors INSOLVENCY AND BANKRUPTCY BOARD OF INDIA NOTIFICATION New Delhi, 20th November, 2019 INSOLVENCY AND BANKRUPTCY […]
Audit and scrutiny of financial documents and statements forms an integral part of the work conducted by the tax departments and many of the officers of the tax department whether it is state administration or central administration does not have specialization in finance or accounting
Consequent upon notification of Indian Insurance Companies (Foreign Investment) Amendment Rules, 2019 and IRDAI (Insurance Intermediaries) (Amendment) Regulations, 2019, it is observed that the circular no. IRDA/ INT/ CIR/ ORD/ 208 11/ 2015 dt 20.11.2015 has become redundant.
The CBDT has notified that any sum deducted under section 194M shall be paid to the credit of the Central Government within a period of thirty days from the end of the month in which the deduction is made and shall be accompanied by a challan-cum-statement in Form No. 26QD. Every person responsible for deduction […]
The insolvency resolution and liquidation proceedings of the following categories of financial service providers shall be undertaken in accordance with the provisions of the Insolvency and Bankruptcy Code, 2016 read with the Insolvency and Bankruptcy (Insolvency and Liquidation Proceedings of Financial Service Providers and Application to Adjudicating Authority) Rules, 2019 (in this notification referred to as the ‘Rules’) and the applicable Regulations:
It has been held that GST is a new progressive levy. One of the progressive ideal of GST is to avoid cascading taxes. GST Laws contemplate seamless flow of tax credits on all eligible inputs.
Young Indian Vs CIT (Exemption) (ITAT Delhi) ITAT Delhi has dismissed Congress leader Rahul Gandhi’s plea to make Young Indian a charitable trust. Rejecting the application, the ITAT Delhi said that it is a commercial organization. With the rejection of the application, the income tax case of 100 crore rupees against him will open again. […]
The Income Tax Department conducted search action in Mumbai and Surat on 06.11.2019 on entry providers and beneficiaries who have been engaged in execution of civil contracts mainly in Brihanmumbai Municipal Corporation (BMC). A total of 37 premises were covered under search action and 7 premises were covered under survey.
Amendment to All Industry Rates of duty drawback effective from 16.11.2019 vide Notification No. 82/2019-CUSTOMS (N.T.) Dated 15th November, 2019. GOVERNMENT OF INDIA MINISTRY OF FINANCE (DEPARTMENT OF REVENUE) Notification No. 82/2019-CUSTOMS (N.T.) New Delhi, the 15th November, 2019 G.S.R. 851(E). – In exercise of the powers conferred by sub-section (2) of section 75 of […]
In this regard, board has issued an instruction related to the verification checklist in the cash deposit cases during the demonetization period for providing the assistance to the AOs for verification of cash deposits and framing of assessment in the demonetisation related cases.
