LODR Regulations take precedence over suggestions by the Institute of Company Secretaries of India (ICSI) and other authorities regarding related party transactions (RPTs).
ITAT Kolkata ruled in Mahendra Kumar Parakh vs. ITO that cash deposit during demonetization was from past savings, directing AO to delete the addition of Rs. 2,50,000.
Ministry of Corporate Affairs (MCA) in India has issued an adjudication order imposing penalties on auditors for their failure to comply with the provisions of Section 143 of the Companies Act, 2013. The penalties are imposed on the auditors of Strong Infracon Private Limited for non-disclosure of various key financial information in the company’s audit reports.
Delve into the intricacies of the case Smt. Sekar Jayalakshmi Vs ITO (ITAT Chennai), analyzing the discrepancy between Section 68 and Section 69A of the Income Tax Act.
Government issued a trade notice announcing an amendment to the Interest Equalisation Scheme (IES). The IES has been extended until March 31, 2024, as per the notification from the Reserve Bank of India. The amendment, which is effective immediately, introduces a cap of Rs. 10 crore per Importer Exporter Code (IEC) on the annual net […]
MCA imposed penalties on Yuva Nidhi Company Limited for failing to file balance sheet in violation of Section 137 of the Companies Act, 2013.
Whether the applicant is required to pay GST on ‘initial advance’ of 5% and ‘interim’” advance of 7.5% on Ex works value of goods supplied
A coin with a denomination of Seventy Five Rupees will be minted at the Mint under the authority of the Central Government to mark the occasion of the Inauguration of New Parliament Building.
CBDT has issued Notification No. 31/2023-Income-Tax and Increased limit for tax exemption on leave encashment for non-government salaried employees The Income-tax Act, 1961, previously allowed a tax exemption on leave encashment for non-government salaried employees. This exemption was applicable to the period of earned leave they had accrued at the time of retirement, whether through superannuation […]
SEBI Consultation paper on proposed amendment to SEBI (Alternative Investment Funds) Regulations, 2012 to strengthen governance mechanisms of Alternative Investment Funds Summary: The Securities and Exchange Board of India (SEBI) has released a consultation paper seeking public comments on proposed amendments to the SEBI (Alternative Investment Funds) Regulations, 2012. The objective of the proposed amendments […]
