Section 9A of the Income-tax Act, 1961 (the Act) provides for a special taxation regime in respect of certain offshore funds in context of their fund managers being located in India. It is provided that in case of an eligible investment fund, the fund management activity carried out through an eligible fund manager acting on behalf of such fund shall not constitute business connection in India of the said fund.
Date : Dec 05, 2019 RBI releases “Guidelines for ‘on tap’ Licensing of Small Finance Banks in the Private Sector” The Reserve Bank of India today released on its website, “Guidelines for ‘on tap’ Licensing of Small Finance Banks in the Private Sector”. Major changes from the earlier Guidelines on Small Finance Banks dated November 27, 2014, […]
T. R. Ravichandran, RP Vs The Asst. Commissioner (ST) (NCLT) Section 238 of the Insolvency and Bankruptcy Code having categorically mentioned that IBC will have over riding effect on all other laws which are in contravention to the provisions of the IBC, RI cannot raise an objection saying since no provision has been made in […]
Non-Performing Assets i.e. ‘NPAs’ are those assets which are not earning adequate returns to the lending institutions. These are generally the bad loans in the books of the lenders, which may occur due to failure to meet the debt obligation on time/default by the borrowers of such loans. Generally the assets i.e. the loans provided […]
Ministry of Finance MOS Finance: DRI must employ new-age technology to fight smuggling networks Posted On: 04 DEC 2019 Shri Anurag Thakur, Minister of State for Finance & Corporate Affairs, said that sharing information, using data analytics and usage of non-intrusive technologies should be harnessed to effectively battle the modus operandi of new-age smuggling networks. […]
Government hereby specifies the following enactments to which the Sabka Vishwas (Legacy Dispute Resolution) Scheme, 2019 shall be applicable, namely:-
Additional Agencies arc notified as PSIAs, validity of existing PSIAs has been extended, additional area of operation and instruments have been added Rif the existing PSIA
Commissioner of State Tax, Maharashtra State is hereby pleased to delegate the powers and duties conferred or imposed upon the Commissioner and assign the functions and duties as proper officer, to all the State Tax Officers, for carrying out the purposes under various sections under the said Act
Blocking/ Unblocking of EWB generation facility The taxpayers who have not filed GSTR 3B return for two consecutive tax periods, will now be blocked for EWB generation facility on EWB Portal. Thus taxpayers who have not filed their GSTR-3B return for the months of September, 2019 and for October, 2019, will be blocked for EWB […]
The Ministry of Corporate Affairs, with the objective of strengthening the institution of Independent Directors under the Companies Act, launched today the Independent Director’s Databank in accordance with the provisions of the Companies Act, 2013 and the rules made thereunder.
