It is a known fact that the global pandemic of COVID-19 has brought grave losses to humanity as well as the tax collections this year as per the Government reports. Since the introduction of GST in 2017, the Union Government had promised a certain amount of their revenues as GST compensation to the states till the year 2022 to compensate the […]
The Capital Market Regulator on 19th Sept 2020 has settled a case related to default in due diligence in the Britannia Industries and passed a final order to pay over Rs. 46 lakh towards settlement charge to markets regulator SEBI to resolve such alleged failure to carry out due diligence before giving effect to “Transmission of shares in the […]
The Ministry of Corporate Affairs (MCA) has announced an extension in the time period to hold the Annual General Meeting taking into account the difficulties created a pandemic situation in the country extended the due date for conducting the Annual General Meeting (AGM) under the provisions of Companies Act 2013. Under the provisions of section 96 of Companies […]
The Securities and Exchange Board of India (SEBI) has ordered mutual funds to apply the Net Asset Value (NAV) rules consistently across all schemes upon the realisation of funds. The Capital market regulator has also stiffened rules on the processes that fund managers will be required to follow by buying shares. Such rules shall be effective from Jan1, 2021. […]
The Central Board of Direct Taxes (CBDT) had earlier provided for the last day to file belated or revised returns for the assessment year 2019-20, and for the previous year (2018-19) which September 30, 2020. It has also been decided that the deadline to file taxes ends on September 30, 2020. On the other hand, for FY 2020, it is […]
Applicability of Section 50 of the NDPS Act in cases of Personal Search Only The Supreme Court of India has recently ruled a judgement under section 50 of the Narcotic Drugs and Psychotropic Substances Act 1985 holding the opinion that the section 50 of the abovementioned act shall be applicable only in cases of personal search and thereby affirmed the […]
In its recent ruling on September 9, 2020, the Andhra Pradesh High Court has reached a judgment out of a writ petition filed under Article 226 of the Constitution and ordering the respondent authority to permit acceptance of GST TRANS-1 to form either electronically or manually within a period of 30 days. Facts of the Case- The […]
It could be truly acknowledged that the year 2020 is a year of reformations and “Ease of Business” for the Indian masses. Starting from decriminalisation of various offences under Companies Act 2013 in Feb 2020 to new GST portal changes and the “Transparent Taxation and immunity from Prosecution” in August 2020. Similarly, most of the Government Departments are looking for […]
Supreme Court in a recent ruling has observed that in the Motor Accident Compensation Claims, that the children and family would also be authorized for compensation under ‘Loss of consortium’ in claims of Motor Accident under the Act.
Starting a company of your own may be a dream come true for you. However, most frequently, the persons intending to start a company are unaware of the important terms or compliances failing to comply which can lead them to expend hundreds or thousands in penalties. Apart from penalties, the company and its officers may also be required to […]
