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Section 115BBE not attracted to Income voluntarily surrendered during Search & survey

May 24, 2021 6126 Views 0 comment Print

Bajaj Sons Ltd. Vs DCIT (ITAT Chandigarh) We find that a separate surrender of Rs. 97.11 lacs has been made by Shri SB Bajaj Director of the assessee company on account of unexplained cash found during the search action. However, so far as the surrender of Rs. 15 lac to cover any discrepancy is concerned, […]

List of ICSI Officials for Covid 19 Support to Members

May 19, 2021 1098 Views 0 comment Print

THE INSTITUTE OF Company Secretaries of India IN PURSULT OF PROFESSINAOL EXCELLENCE Statutory body under an Ad of Parliament (Under the jurisdiction of Ministry of Corporate Affairs) May 19, 2021 Dear Members, Further to the measures taken during this current pandemic period, the Institute has constituted a task force comprising of the following officials for […]

Guidelines for functioning of MahaRERA Conciliation & Dispute Resolution Forum

May 18, 2021 6345 Views 1 comment Print

Following procedure is prescribed for hearing to be conducted by the MahaRERA Conciliation and Disputes Resolution Forum in referred conciliation matters (online complaints) transferred by MahaRERA:

ICSI Special Covid-19 Assistance Corpus

May 18, 2021 588 Views 0 comment Print

ICSI Special Covid-19 Assistance Corpus for non-CSBF members & CSBF members of age 60 years and above – ICSI has created a dedicated Corpus Fund of Rs.10,00,00,000/- (Rupees Ten Crore only) for benevolence by providing financial assistance to the declared dependent (s) / legal heir(s) of deceased members of ICSI in case of Covid-19 related unfortunate demises, who were not members of CSBF or were CSBF members of age 60 years and above.

Rajasthan High Court Restrains Bureau of Indian Standard from interfering use of Trade Mark by Cement Company

May 18, 2021 1128 Views 0 comment Print

A writ petition is filed before Hon’ble Rajasthan High Court, Jodhpur while challenging the Circular dated 28.08.2020 being issued by the Bureau of Indian Standards(BIS). By virtue of the impugned circular, BIS has strictly directed the Cement Companies across the nation to not to use Registered TradeMarks which contains claims like ‘super’, ‘weather shield’ and […]

Should Covid-19 vaccine be taxed? Here’s what may advocate for its tax applicability & exemptions

May 17, 2021 13242 Views 0 comment Print

Vaccines are life-saving drugs, just like medicines, classified as goods under GST. The supply of vaccines for business purposes with consideration is taxable under Section 7 of the CGST Act. However, the manufacturer will not be eligible to claim the input tax credit on the raw materials or services used in the supply of vaccines obtained without any charge.

Revision in import policy of Tur/Pigeon Peas, Moong & Urad – regarding

May 16, 2021 1287 Views 0 comment Print

Vide the said notification, the import policy for goods falling under HS Code 0713 with item description as Tur/Pigeon Peas (Cajanus Cajan); Moong [Beans of the SPP Vigna Radiata (L.) Wilczek] and Urad [Beans of the SPP Vigna Mungo (L.) Hepper] is revised from Restricted to Free with immediate effect and for the period upto 31st October 2021.

Relaxation in procurement rules for containment of COVID-19 pandemic

May 14, 2021 609 Views 0 comment Print

The Government of India has exempted the public procurement of supplies required for containment of COVID-19 global pandemic from the applicability of Public Procurement (Preference to Make in India) Order, 2017.

Extension of due date of filing Revocation application of Cancellation

May 14, 2021 3462 Views 0 comment Print

Extension of the due date of filing Revocation application of Cancellation In view of Notification No. 14/2021 dt. 01.05.2021, the timeline for filing the ‘Application for Revocation of Cancellation’ has been extended to 180 days from 90 days which will be valid up to 15th June 2021 Thanking You, Team GSTN | 14/05/2021

Exercise of ESOPs by CEO/MD/WTDs of Insurance company

May 11, 2021 1377 Views 0 comment Print

In case the shares of the insurance company are offered as ESOPs to Managing Director / Chief Executive Officer / Whole Time Directors, then: i. If the CEO/MD/WTDs is one of the promoters / investors or directly related to the promoters, then the same will be governed by the provisions of SEBI (Issue of Sweat Equity) Regulations, 2002 as amended from time to time except those relating to pricing of shares. The manner of pricing of shares shall be disclosed upfront to the Authority. ii. In other cases, the same will be governed by the SEBI’s ESOP guidelines

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