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SEBI relaxes timelines for regulatory compliance by TM/CM/SP/KRA

April 29, 2021 1032 Views 0 comment Print

Amid Covid-19 SEBI extend the timelines for compliance with the following regulatory requirements by the Trading Members (TM) / Clearing Members (CM) / Depository Participants (DP) / KYC Registration Agencies (KRA), Securities and Exchange Board of India CIRCULAR SEBI/HO/MIRSD/DOP/P/CIR/2021/559 April 29, 2021 To, 1. All Recognised Stock Exchanges and Clearing Corporations 2. All Depositories 3. […]

Decide on cashless treatment for COVID-19 in 60 Minutes: IRDAI

April 29, 2021 5070 Views 0 comment Print

IRDAI was directed to advise Insurers to communicate their cashless approvals to the concerned hospitals/establishments within a maximum time period of 30 to 60 minutes so that there shall not be any delay in discharge of patients and hospital beds do not remain unoccupied.

Best judgment assessment – Arbitrary adoption of percentage not admissible

April 28, 2021 2571 Views 0 comment Print

In best judgment assessment, AO had to bring on record certain material with regard to rate of profit admitted for estimation of profit with some comparable cases of similar nature or profit declared in similar industry

GST on Various Services provided by Tiruppur City Municipality

April 28, 2021 1809 Views 0 comment Print

In re Tiruppur City Municipal Corporation (GST AAR Tamilnadu) Q.1. Advance ruling is required in respect of Sl No 1 to 5, 7 to 9, as to whether the services rendered by us directly are covered under Twelfth Schedule to Article 243W of the Constitution and /or exempted under the Notfn. No mentioned against each Sl […]

Clarify FDI Policy to stop inventory control by foreign e-commerce companies

April 27, 2021 528 Views 0 comment Print

Urgent Need to bring a New Press Note to clarify the FDI Policy to stop inventory control by foreign e-commerce companies and also to take strong action against foreign e-commerce companies for using unfair means to gain market share at the cost of small merchants in the lockdown due to covid-19 pandemic.

Appointment of Directors & Constitution of Committees of Board in Banks

April 26, 2021 1719 Views 1 comment Print

The Chair of the board shall be an independent director. In the absence of the Chair of the board, the meetings of the board shall be chaired by an independent director. The quorum for the board meetings shall be one-third of the total strength of the board or three directors, whichever is higher. At least half of the directors attending the meetings of the board shall be independent directors.

MHA allows Few Industries For Use of Liquid Oxygen

April 26, 2021 465 Views 0 comment Print

MHA allowed following industries to use liquid oxygen 1. Ampules & vials; 2. Pharmaceutical; and 3. Defence forces. No. 40-3/2020-DM-I(A) Government of India Ministry of Home Affairs North Block, New Delhi-110001 Dated 26th April, 2021 ORDER In continuation of Ministry of Home Affair’s (MHA) Order of even no. dated 25th April 2021, relating to use […]

Offering of Portfolio Management Service & Investment Advisory Service by BUs – Guidelines

April 26, 2021 660 Views 0 comment Print

Banking Units (BUs) may please refer to the IFSC (Banking) (Amendment) Regulation, 2021 which was notified by the Authority on March 25,2021.The said regulation permits BUs to undertake the following additional activities:

ITAT deletes Section 68 Addition for Share Premium

April 26, 2021 1731 Views 0 comment Print

Renu Proptech Pvt Ltd. Vs ACIT (ITAT Delhi) Considering the plethora of documentary evidences, we find that not only the assessee has established the source of the creditor, but it has also furnished documentary evidences to show the’ source of source’. We find that the AO, while making addition, has made general observations relating to […]

Updated Harmonized Master List of Infrastructure Sub-sectors

April 26, 2021 44550 Views 0 comment Print

With the approval of the Competent Authority, an updated Harmonized Master List of Infrastructure Sub-sectors (Annexure-I) is hereby notified. The new list incorporates the following change to the notification dated 13th August, 2018:

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