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SEBI (Issue and Listing of Debt Securities) (Amendment) Regulations, 2019

May 7, 2019 2583 Views 0 comment Print

Securities and Exchange Board of India (Issue and Listing of Debt Securities) (Amendment) Regulations, 2019 shall come into force on the date of their publication in the Official Gazette.

Declare PAN /Aadhaar while paying membership fees/applying Fellowship: ICSI

May 7, 2019 1335 Views 1 comment Print

Members would henceforth be required to declare their PAN (mandatory) and Aadhaar / UID Number (optional) at the time of making online payment of annual membership fees and while applying for Fellow membership of the Institute in Form-B.

RBI eMandate: A Welcome Step to Facilitate Auto-debits by Fintech Firms

May 6, 2019 1743 Views 0 comment Print

The Reserve Bank of India (RBI) has provided its much-awaited nod for electronic mandates (both through net banking and credit/debit cards), instead of the prevailing Adhar based authentication. This is a welcome approval for fintech companies as they will be able to auto-debit recurring payments related to mutual funds, home loans and so on, as per e-mandates provided by the users.

GST on establishment of Solar Power Plant- AAR allows withdrawal of Application

May 6, 2019 4368 Views 0 comment Print

In re M/s. Vikram Solar (GST AAR  Andhra Pradesh) 1. Whether following three separate contracts  awarded to a contractor for establishment of a Solar Power Plant namely: a) Contract for supply of Goods. b) Contract for supply of Erection and Installation Services c) Contract for supply of Operation and Maintenance Service for a period of […]

ICAI postpones 2 papers of CA Final and 1 of CA Foundation

May 3, 2019 1566 Views 0 comment Print

it is notified for general information that due to certain unavoidable circumstances, Paper – 3 of Foundation Examination and Paper 4 & 5 of Final Examination {Old as well as New Scheme} stand postponed and the examination in the said paper(s) shall now be held as detailed below.

Home Loan Aspirants: It’s time to Smile!

May 3, 2019 5250 Views 0 comment Print

SBI Home Loans are cheaper effective from this May 1st. Cheer up! Now you can enjoy cheaper interest rate on SBI home loan. The RBI (Reserve Bank of India) reduced repo rate by 0.25% (repo rate is the interest charged by the RBI from commercial banks for lending money) for the financial year of 2019.

Requirement of issuance of notice within prescribed time U/s. 143(2)

May 3, 2019 1347 Views 0 comment Print

ITO Vs Globsyn Technologies Ltd. (ITAT Kolkata)  is the contention of the ld. AR is that no notice u/s 143(2) of the Act was served within the stipulated time prescribed in the Act and the reassessment order was without jurisdiction and prayed to dismiss the appeal filed by the revenue. Further he submitted that the […]

Revisionary power U/s. 263 cannot be exercised on ground not covered in Re-Opening

May 3, 2019 4098 Views 0 comment Print

Gulab Badgujar (HUF) Vs CIT (Central) (ITAT Pune) The question which arises is the exercise of revisionary jurisdiction by the Commissioner of Income Tax under section 263 of the Act against the order passed under section 143(3) r.w.s. 147 of the Act, wherein the assessment proceedings were re-opened on specific reasons recorded for re-opening. We […]

Anti-dumping duty on ‘Saccharin’ originating in or exported from Indonesia

May 3, 2019 654 Views 0 comment Print

NOTIFICATION No. 20 /2019-Customs (ADD) Seeks to impose anti-dumping duty on Saccharin, originating in or exported from Indonesia, in pursuance with anti-dumping investigation final findings issued by the DGTR. GOVERNMENT OF INDIA MINISTRY OF FINANCE (DEPARTMENT OF REVENUE) NOTIFICATION No. 20/2019-Customs (ADD) New Delhi, the 3rd May, 2019 G.S.R…. (E). – Whereas, in the matter of […]

Addition for deemed rent of unsold flats cannot be made to Builder

May 3, 2019 7707 Views 0 comment Print

M/s. Kolte Patil Developers Limited Vs DCIT (ITAT Pune) The issue in the present case is with respect to addition under the head ‘income from house property’ on the 32 unsold flats/shops by the assessee. It is an undisputed fact that assessee is in the business of Civil Engineers, Builders and Developers and had in […]

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