On account of huge accumulated debt of Air India, Government followed Enterprise Value (EV) bidding approach for strategic disinvestment of Air India and its identified subsidiaries/JVs (100% shareholding in AIXL and 50% shareholding in AISATS). This was stated by Union Minister of State for Finance Dr Bhagwat Kisanrao Karad in written reply to a question […]
1,42,73,910 new accounts opened under Sukanya Samriddhi Account (SSA) between 2018 and 2021 The number of new accounts opened under Sukanya Samriddhi Account (SSA) from 01.04.2018 to 31.10.2021 is 1,42,73,910. This was stated by Union Minister of State for Finance Shri Pankaj Chaudhary in written reply to a question in Lok Sabha today. The Minister […]
PCIT Vs Servants of People Society (Delhi High Court) A perusal of the paper book reveals that the assessee/society is running a printing press and publishing a newspaper. The profit so generated is used for charitable purposes and apparently there is no profit motive in the activities of the assessee. As such it cannot be […]
In re Tianyin Worldtech India Private Limited (GST AAR Uttar Pradesh) Q-1 The Applicant has approached the authority of Advance ruling to determine the admissibility of input Tax Credit of Tax paid on cost proposed to be incurred in relation to Activity mentioned ? Ans-1 The input Tax Credit of Tax paid on cost Proposed to […]
Application for initiation of Corporate Insolvency Resolution Process (CIRP) against Reliance Capital Ltd. filed under the Insolvency and Bankruptcy Code, 2016
With a view to have correct interpretation and implementation of the NDPS Act, it was decided to rectify the anomaly in section 27A of the Act by substituting ‘clause (viiib)’ in place of ‘clause (viiia)’ in section 27A.
Applications are invited from lawyers of substantial standing and repute and with good academic credentials for the empanelment of Senior and Junior Standing Counsels for representing the Income Tax Department in the High Court of Delhi and other judicial fora in its tax related matters/litigation.
CBIC notifies Rate of Exchange of Foreign Currencies against Indian Rupees with effect from 3rd December, 2021 vide Notification No. 96/2021- Customs (N.T.) | Dated: 2nd December, 2021. Government of India Ministry of Finance Department of Revenue Central Board of Indirect Taxes and Customs ***** Notification No. 96/2021 – Customs (N.T.) New Delhi, dated the […]
Measures taken by MCA to ameliorate difficulties faced due to COVID-19 pandemic The Ministry of Corporate Affairs (MCA) administers the provisions of the Companies Act, 2013 (the Act), The Limited Liability Partnership Act, 2008 and The Insolvency and Bankruptcy Code, 2016. MCA does not maintain data on event base. This was stated by the Union […]
BCAS representation in regard to the conditions set out in various orders of registration granted to Charitable institutions in response to applications preferred under section 12A(1)(ac) and the first proviso to section 10(23C) of the Income Tax Act 1961. Bombay Chartered Accountants Society Harnessing Talent and Providing Quality Service 7, Jolly Bhavan 2, Ground Floor, […]
