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Govt appoints Shri Injeti Srinivas as Chairman of IFSCA

July 7, 2020 837 Views 0 comment Print

Central Government hereby appoints Shri Injeti Srinivas, IAS (Retd.) (OR: 1983) as the Chairman of International Financial Services Centres Authority (IFSCA) for a period of three years from the date of assuming charge of the post or until further orders, whichever is earlier.

Infrastructure sub-sectors business – section 10(23FE) exemption

July 6, 2020 4704 Views 0 comment Print

CBDT specifies business, for the purposes of section 10(23FE)(iii)(b), to be the business which is engaged in the infrastructure sub-sectors mentioned in Updated Harmonised Master List of Infrastructure Sub-sectors vide Notification No. 44/2020- Income Tax dated 6th July, 2020. Section 10 (23FE) provides for exemption to specified income of certain entities including notified SWF & […]

FAQs On Voluntary Winding Up

July 6, 2020 23829 Views 5 comments Print

Q 1. Which notification makes the voluntary winding up effective? The following notifications make the voluntary winding up effective: Ans: The Ministry of Corporate Affairs vide notification dated 30th March 2017 notified Section 59 of the Insolvency and Bankruptcy Code, 2016 which is relating to Voluntary Liquidation of Corporate persons.

RBI extends timeline for finalization of audited accounts by NBFC

July 6, 2020 4107 Views 4 comments Print

RBI decided that every applicable NBFC shall finalise its balance sheet within a period of 3 months from the date to which it pertains or any date as notified by SEBI for submission of financial results by listed entities.

Remove Vulnerability of CESTAT Website: Govt

July 6, 2020 936 Views 0 comment Print

In case of any likely delay the CESTAT websites should be temporarily deactivated so that it does not become a target for hackers/cyber attack, causing public concern.

Custom duty on imports of Phthalic Anhydride from Korea increased

July 6, 2020 1155 Views 0 comment Print

Notification No. 29/2020-Customs Dated- 6th July, 2020.- Seeks to further amend notification no. 152/2009 dated 31.12.2009, to increase the rate of duty of customs on imports of Phthalic Anhydride originating in Korea RP and imported under the India-Korea Comprehensive Economic Partnership Agreement, on recommendation of preliminary findings of Directorate General of Trade Remedies under India-Korea […]

Neeva Food guilty of Profiteering, Not passed GST Benefit to Customer: NAA

July 6, 2020 729 Views 0 comment Print

Director General of Anti-Profiteering Vs M/s Neeva Foods Pvt, Ltd. (National Anti-Profiteering Authority) 1. The present Report dated 27.12.2019 has been furnished by the Director General of Anti-Profiteering (DGAP), under Rule 129 (6) of the Central Goods & Services Tax (CGST) Rules, 2017, The briefzs facts of the case are that a reference was received […]

Turnover in respect of speculative transactions & section 271B Penalty

July 3, 2020 11517 Views 0 comment Print

Santosh Kumar Vs ITO (ITAT Jaipur) Tribunal has considered the guidance note of ICAI in respect of the tax audit U/s 44AB of the Act wherein the turnover or gross receipt in respect of speculative transactions has been considered as some total of positive and negative outcome of the speculative transactions. This Tribunal in a […]

SEBI (Investment Advisers) (Amendment) Regulations, 2020

July 3, 2020 11577 Views 1 comment Print

1. These Regulations may be called the Securities and Exchange Board of India (Investment Advisers) (Amendment) Regulations, 2020. 2. They shall come into force on the ninetieth day from the date of their publication in the Official Gazette.

Details of Visas Granted By India

July 3, 2020 972 Views 0 comment Print

e-Visa is granted to a foreigner whose sole objective of visiting India is recreation, sight seeing, casual visit to meet friends or relatives, attending a short term yoga programme, medical treatment including treatment under Indian systems of medicine and business purpose and no other purpose/ activity.

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