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IBBI debars insolvency professional for 10 years for Professional Misconduct

February 21, 2019 1719 Views 0 comment Print

On verification of the record, it appears that this Petition has been filed by the professional namely, Mr. Sanjay Kumar Ruia. It appears that the professional who accepted to work as Interim Resolution professional is none other than the wife of the Chartered Accountant who filed this Company Petition.

Result analysis of Dec 2018 exam of Institute of Cost Accountants of India

February 21, 2019 4668 Views 0 comment Print

PRESS RELEASE Result declared for DECEMBER – 2018 term of examination Kolkata: The Institute conducts Foundation / Intermediate / Final Examination twice in a year i.e. in June and December. The results of December 2018 term of Examination of The Institute of Cost Accountants of India have been declared on 21/02/2019. Result Analysis of The […]

Extension of last date of filing initial return in MSME Form I

February 21, 2019 36801 Views 2 comments Print

Thirty days period for filing initial return in MSME Form 1 as specified in  Specified Companies (Furnishing of information about payment to micro and small enterprise suppliers) Order, 2019 dated 22.01.2019  shall be reckoned from the date the said e-form is deployed on MCA 21 portal instead of thirty days from the date of publication […]

President promulgates four Ordinances on 21.02.2019

February 21, 2019 1290 Views 0 comment Print

President of India on the 21st February, 2019 has promulgated the following four Ordinances, namely:––1. The Muslim Women (Protection of Rights on Marriage) Second Ordinance, 2019 (Ord. 4 of 2019). 2. The Indian Medical Council (Amendment) Second Ordinance, 2019 (Ord. 5 of 2019). 3. The Companies (Amendment) Second Ordinance, 2019 (Ord. 6 of 2019). 4. The Banning of Unregulated Deposit Schemes Ordinance, 2019 (Ord. 7 of 2019).

Revised Haircut on Central Govt Securities accepted as Collateral

February 21, 2019 1161 Views 0 comment Print

It has been decided to revise the minimum haircuts applicable to the Central Government securities deposited by clearing members. Accordingly, Para 2 of Annexure – I to the Circular stands modified as far as it relates to the haircut on Central Government Securities, as under:

Exemption U/s. 54F cannot be denied for Purchase of Plot in HUF name

February 20, 2019 2022 Views 0 comment Print

Kanaiyalal Muljibhai Patel Vs ITO (ITAT Ahmedabad) The issue before us is, whether the house constructed by the assessee on a plot purchased in the name of HUF, exemption under section 54F, is available to the assessee or not ? The Revenue is of the opinion that for claiming exemption under section 54F, the investment ought […]

HC disposes petition as same was appealable under Punjab GST Act, 2017

February 20, 2019 552 Views 0 comment Print

It was stated by learned counsel for the State that the goods have been released and the amount of tax and penalty has been deposited  by the petitioner. It was further stated that the impugned order is appealable under Section 107 of Punjab General Goods and Service Tax Act, 2017.

Companies (Prospectus and Allotment of Securities) Second Amendment Rules, 2019

February 19, 2019 5214 Views 0 comment Print

These rules may be called the Companies (Prospectus and Allotment of Securities) Second Amendment Rules, 2019. (2) They shall come into force on the date of their publication in the Official Gazette.

BSE Circular on Deficiencies in disclosures related to Pledge of Shares

February 19, 2019 876 Views 0 comment Print

Bombay Stock Exchange Circulars to Listed Companies LIST/COMP/43/2018-19 February 19, 2019 Dear Sir/Madam, Subject: Deficiencies in disclosures related to Pledge of Shares Regulation 31 of SEBI (Substantial Acquisition of shares and takeovers) Regulation, 2011 requires the promoter of every company to disclose the details of shares in that company, when the shares held by these promoters […]

Long term vis-a-vis short term: Tenancy right after converting into ownership

February 19, 2019 2130 Views 0 comment Print

Where assessee had tenancy right in property, which was converted into ownership before sale of shop, then period of holding would be determined from the date the assessee acquired ownership of the asset because on purchase of the property the tenancy right was converted into ownership and assessee had sold shop not tenancy right.

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