On 18th August 2020, the Central Board of Direct Taxes has issued a list of guidelines that prescribe conditions for the pension funds in India to take the benefit of income tax exemptions vide Notification No. 67/2020-Income Tax/[G.S.R. 508(E)] dated-17/08/2020. The announcement comes after a July notification related to Draft Proposed Pension Fund Rules 2020 that intends […]
Since the inception of GST in the last three years, it’s been a tough journey for all the stakeholders in understanding and processing the system for compliance fulfilments. Though, there have been changes and flexibilities provided by the CBEC from time to time to ensure no default on taxes, still many areas seem to be inconsistent enough to give […]
Every Independence Day is a good way to assess how much social, economic and legal freedom have we achieved in the last one year as ‘true freedom lies only in breaking all old shackles of bondage’. Let’s take a look at some major events that happened since last year-
On 13th August 2020, Honourable Prime Minister Narendra Modi has enunciated a platform to tribute the honest taxpayers of the country and ensuring awareness about honest tax payment in India. The inauguration of the “Transparent Taxation” program happened at 11 am through video conferencing. The “Transparent Taxation” platform will work to create major reforms meant to establish more transparency in income […]
In a significant judgment on Tuesday, the Supreme Court of India ruled that a daughter will have a share in her ancestral property after the Hindu Succession (Amendment) Act, 2005 irrespective of the fact whether her father was alive or not at the time of the amendment.
In a recent ruling by the Maharashtra Authority for Advance Rulings (AAR) has maintained that the coaching centers are not eligible for exemption under GST and they will continue to pay GST @18% under the GST regime, even in cases where the educational services bear a ‘Nil’ tax for their educational services. The ruling came when a Mumbai based coaching […]
The Securities and Exchange Board of India notified on 3rd Aug 2020 that it shall be compulsory for the proxy advisors to share their report with its clients and the company at the same time. This is the first time the regulator has come out with guidelines for local proxy advisors after framing regulations in 2014. This notification shall […]
Passing a landmark judgment on 9 Aug 2020, the Kerala High Court has issued a judgment explaining the process mechanism as stated under section 57 of the TP Act 1882 relating to removing encumbrances created on immovable property. The judgment is exemplary because there was no prior case or precedent established in such cases in such matters and it gives an emphasis on the efficacious and substantive mechanism as provided under section 57 of the Transfer of Property Act 1882.
The Union Cabinet on July 29, 2020, officially proposed amendments in the traditional schooling National Education Policy. The policies are special since it is the first educational policy of the century in India and alters the traditional and outdated thirty- four years old national education policy since the year 1986. Highlights of the New National Education Policy 2020: 1. Prospective Aims: […]
1. Definition of a Stock Broker as per SEBI norms: By general definition, a stockbroker is an intermediary having the authority to trade in stocks and securities them on a stock exchange on the behalf of investors. As it is difficult for the investor to directly trade in the stock exchange, he takes the assistance […]
