Explore ICAIs Union Budget 2023 highlights on indirect taxes. Delve into proposed amendments in CGST, IGST Acts, and Customs Act. Stay informed on changes effective after Finance Bill enactment.
Direct Tax Collections for F.Y. 2022-23 at ₹15.67 lakh crore – 24.09% higher than gross collections for corresponding period of last year as on 10.02.2023 Direct Tax collection, net of refunds, stands at ₹12.98 lakh crore – 18.40% higher than net collections for corresponding period of last year The provisional figures of Direct Tax collections […]
For an exemption from the minimum subscription requirement under regulation 86 of SEBI ICDR Regulations 2018, the twin conditions of the proviso to the aforesaid regulation are required to be met. However, for a professionally managed listed company without identifiable promoters/promoter group, compliance with the second condition to the proviso to regulation 86 (1) of […]
SEBI had noticed that clauses relating to fees and charges in the portfolio manager-client agreement did not always clearly reflect the fees and charges payable by the client and the manner of computation of the same. To bring about greater uniformity, clarity and transparency with regard to fees and charges, SEBI issued circular dated October […]
Webinar on Union Budget Analysis 2023 will cover following changes proposed by Union Budget 2023 by CA Darshak Shah on 11th of February 2023 at 11.00AM. 1. U/s 35D, preliminary expenses incurred before incorporation for the purpose of feasibility report, project report, etc, shall be allowed for deduction only after submission of statement to income […]
Sh. Balwinder Kumar Vs ITO (ITAT Amritsar) Ld. A.O cannot blow hot and cold at the same time by partly rejecting the books of accounts and partly accepted the books of accounts, which is bad-in-law. If the AO rejected the books of accounts, then he can’t rely on the same books of accounts for opening […]
Requirement to allow TDS credit on Salary is only of amount of tax deducted at source & not getting deposited with Government after deduction.
Release of new module for filing of information required under Regulation 46 and 62 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 on BSE Listing Center
Auditor has reported that company has not complied with Accounting Standard 15 specified under section 133 of Act read with Rule 7 of Companies(Accounts) Rules, 2014, where no actuarial valuation is done for gratuity and leave encashment for the financial years 2017-18, 2018-19 and 2019-20. Hence the company has not complied with section 134(3)(f) of the Companies Act, 2013. Therefore, the company and every officer who is in default are liable for penal action under Section 134(8) of the Companies Act, 2013.
On the plain reading of Rule 11 (3) (i) (ii), it is clear that as per sub-clause (2), the credit shall be lapsed only if the exemption under the Notification is absolute that means in case of conditional Notification the provision of lapsing of credit will not apply.
