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CBDT notifies ‘Uttar Pradesh Electricity Regulatory Commission’ – Section 10(46)

July 6, 2022 405 Views 0 comment Print

CBDT notifies ‘Uttar Pradesh Electricity Regulatory Commission’ under Section 10(46) of Income-tax Act, 1961 vide Notification No. 79/2022- Income Tax | Dated: 6th July, 2022. MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF DIRECT TAXES) New Delhi Notification No. 79/2022- Income Tax | Dated: 6th July, 2022 S.O. 3105(E).—In exercise of the powers conferred […]

Service tax cannot be levied on Chit Funds prior to 15.06.2015

July 5, 2022 999 Views 0 comment Print

Chit funds are liable to pay service tax only after amendment to definition of word ‘service’ brought in i.e., wef 15-6-2015 as held by SC in UOI v. Margadarshi Chit Funds (P.) Ltd.

SEBI modifies Cyber Security/resilience framework of KYC Registration Agencies

July 5, 2022 768 Views 0 comment Print

All Cyber-attacks, threats, cyber-incidents and breaches experienced by KRAs shall be reported to SEBI within 6 hours of noticing / detecting such incidents or being brought to notice about such incidents.

PFRDA (Form of Annual Statement of Accounts and Records) Amendment Rules, 2022

July 5, 2022 477 Views 0 comment Print

Pension Fund Regulatory and Development Authority (Form of Annual Statement of Accounts and Records) Amendment Rules, 2022.

IRDAI permits three new add-ons in Motor Insurance

July 5, 2022 924 Views 0 comment Print

IRDAI permits general insurers to introduce the following concepts for the Motor Own Damage (OD) cover through the filing of appropriate add-ons to the basic OD policy on an annual basis:1. Pay As You Drive 2. Pay How You Drive 3. Floater policy for vehicles belonging to the same individual owner for two wheelers and private cars

IBBI directs IP to undergo pre-registration educational course

July 5, 2022 693 Views 0 comment Print

IBBI held that in view of the submission made by Mr. Sunil Kumar Agarwal, and materials available on record, DC notes that Mr. Sunil Kumar Agarwal has erred on all counts as detailed above. Be it related to filling of avoidance application; appointment of valuers or related to publication announcements, the responses are not as […]

ICAI notifies Panel for scrutiny of nominations for bye-election

July 5, 2022 729 Views 0 comment Print

ICAI hereby notifies that Panel for scrutiny of nominations for bye-election to Twenty Fifth Council from Western India Regional Constituency to be held in September, 2022

IBBI (Insolvency Professionals) (Amendment) Regulations, 2022

July 4, 2022 1314 Views 0 comment Print

These regulations may be called the Insolvency and Bankruptcy Board of India (Insolvency Professionals) (Amendment) Regulations, 2022.

GST: Not furnishing certified copy of order appealed against within 7 days of filing of appeal is a mere technical defect

July 3, 2022 11328 Views 0 comment Print

Atlas Pvc Pipes Limited Vs State of Odisha (Orissa High Court) It is ex facie clear from the copy of Memo of Appeal in Form GST APL-01 vide Annexure-2 series to the writ petition that having received the Order passed under Section 74 of the OGST Act on 20.01.2021, the Petitioner filed the appeal invoking […]

Cost perceived by donor of Gift cannot be considered as Cost of acquisition

July 3, 2022 3129 Views 0 comment Print

Saireddy Pruthviraj Reddy Vs ITO (ITAT Hyderabad) It is pleaded by the assessee before us that while receiving the flat No. 914, the mother of the assessee valued the same at Rs. 27,23,000/-and offered to tax the capital gains arising therefrom. On this premise the assessee insists that the cost of acquisition of plot No. […]

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