Banks are advised to ensure that opening of bank accounts and seeding of Aadhaar numbers with existing or new accounts of eligible beneficiaries opened for the purpose of Direct Benefit Transfer (DBT) under social welfare schemes, is in conformity with the provisions listed under Section 16 of the Master Direction – Know Your Customer (KYC) Direction, 2016 (updated as on May 29, 2019) and extant provisions of the Prevention of Money Laundering (PML) Rules.
Shri Om Prakash Singh Vs ACIT (ITAT Agra) When we test the explanation of the assessee in the light of evidences available on records and the precedents governing the issue, we find that identity of the Company who has advanced money to the assessee is proved beyond doubt. There can be hardly any dispute regarding […]
The following are the important aspects of ESOPs in relation to the legal framework, procedure for its issuance, tax implications upon its exercise and on sale, its compliances and reporting:
In case of Startup Companies recognized by DPIIT which have filed Form No. 2 and whose cases are under limited scrutiny on the single issue of applicability of section 56(2)(viib),the contention of the assessee will be summarily accepted.
Shri Rupesh Rashmikant Shah Vs Union of India & Ors. (Bombay High Court) In the context of interest, there are three crucial dates. The date of the accident is a date in reference to which the entire compensation is calculated. The date of filing of the claim petition is the date from which the claimant […]
Government hereby appoints the 9th day of August, 2019, as the date on which the provisions of Part I, IV, VI & VII of Chapter VI of the Finance (No. 2) Act, 2019 (23 of 2019), shall come into force. PUBLISHED BY AUTHORITY MINISTRY OF FINANCE (Department of Financial Services) NOTIFICATION New Delhi, the 9th […]
AIFs incorporated in IFSC shall be permitted to make investments as per the provisions of the SEBI (Alternative Investment Fund) Regulations, 2012, and the guidelines and circulars issued thereunder, including the operating guidelines for AIFs in IFSC.
As you are aware, the recent floods, have caused immense loss to property in the state of Maharashtra and Karnataka. There is an urgent need for the insurance industry to take immediate steps to mitigate the hardships of the affected insured population by ensuring immediate registration and settlement of eligible claims.
Chandra Prakash Jhunjhunwala Vs DCIT (ITAT Kolkata) FULL TEXT OF THE ITAT JUDGEMENT The captioned appeal filed by the Assessee, pertaining to assessment year 2014-15, is directed against the order passed by the Commissioner of Income Tax (Appeal)-21, Kolkata, which in turn arises out of an assessment order passed by the Assessing Officer u/s 143(3) […]
(1) This Act may be called the Public Premises (Eviction of Unauthorised Occupants) Amendment Act, 2019. (2) It shall come into force on such date as the Central Government may, by notification in the Official Gazette, appoint.
