Income Tax : Explore key court rulings on reassessment under Section 148 post-2021 amendments, covering procedural changes, taxpayer rights, an...
Finance : Explore the complexities of India's central-state taxation conflicts, fiscal policies, and solutions to improve tax allocation and...
Income Tax : The Supreme Court upholds TOLA, validating extended income tax reassessment timelines despite previous High Court rulings on Secti...
Corporate Law : Explore the complexities of moonlighting under Indian labor laws, its implications, and the perspectives of various sectors on dua...
SEBI : Explore how aligning ESG compliance with SDGs can bridge gaps in corporate sustainability, ensuring a holistic approach to environ...
Income Tax : Explore Income Tax Day 2024s history, significance, and key updates from Budget 2024-25, including enhanced deductions and revised...
CA, CS, CMA : Explore the challenges faced by Charitable Trusts due to delays or errors in submitting applications under Section 12A(1)(ac) of t...
Finance : Interim Budget Session 2024 sees high productivity with 12 Bills passed, Lok Sabha and Rajya Sabha exceeding performance targets....
Corporate Law : Stay vigilant against COVID-19 surge! Centre issues advisory to states, emphasizing vigilance, district-wise monitoring, and incre...
CA, CS, CMA : Join free BoS Live Learning Classes by ICAI for CA Final & Intermediate courses appearing in May 2024 exams. Get expert guidance a...
Income Tax : ITAT Pune cancels penalty imposed on Balbir Kaur Birdie for non-compliance with tax notices, citing reasonable cause due to COVID-...
Income Tax : ITAT Rajkot allows a 107-day delay in filing an appeal due to the assessee’s health issues and Covid-19, remanding the case to t...
Income Tax : ITAT Lucknow directs CIT(A) to reconsider limitation issue in Bharat Shetty’s case, factoring in COVID-19 period for a fresh dec...
Income Tax : ITAT Ahmedabad held that provisions of Sick Industrial Companies Act [SICA] would override the provisions of Income Tax Act. Thus,...
Goods and Services Tax : Patna High Court rules on extension of limitation for GST assessment orders in Barhonia Engicon Pvt Ltd case, addressing pandemic-...
Income Tax : For claiming exemption Section 54 to 54 GB of the Act, for which last date falls between 01st April. 2021 to 28th February, 2022 m...
Company Law : After the Covid-19 pandemic no Company Secretary from far of places shown interest to come and join in a hospital business as the ...
Income Tax : CBDT specifies conditions for exemption to money received from employer or other person in Covid cases by family of deceased ide N...
Income Tax : Clause (XII) of the first proviso of clause (x) of sub-section (2) of section 56 of the Income-tax Act, 1961 provides that any sum...
Income Tax : CBDT specifies Document to be submitted by employee to claim exemption on sum received for COVID-19 treatment vide Notification No...
1. Management of the entity should assess the impact of COVID-19 and the measures taken on its ability to continue as a going concern. 2. The impact of COVID- 19 after the reporting date should also be considered and if, management after the reporting date either intends to liquidate the entity or to cease trading, or has no realistic alternative but to do so, the financial statements should not be prepared on going concern basis.
Frequently Asked Questions : RBI Allowed Banks to Declare Moratorium on Term Loans Last week, the Reserve Bank of India has allowed Banks to declare a three-month moratorium on all term loans outstanding as on March 1, 2020, as well as on working capital facilities. The Indian Banks Association has answered a list of Frequently […]
Ministry of Corporate Affairs in view of COVID-19 have taken the following measures to reduce the compliance burden and other risks: UPDATE NO.1 Non-compliance of minimum residency in India for a period of at least 182 days by at least one director of every company, under Section 149 of the Companies Act, 2013 shall not […]
Office of Principal Scientific Adviser issues manual on homemade masks: Masks for Curbing the Spread of SARS-CoV-2 Coronavirus An office memorandum allowing institutes under DST, DBT, CSIR, DAE, DRDO and Indian Institute of Science (IISc) to self assess and prepare their labs for research and testing through the standard and rigorous protocol Testing will be […]
COVID-19 has hit almost all sectors of the economy. PM Modi has also announced a 21-day complete lockdown till 14th April 2020 to check the spread of COVID-19. On the other hand, the Union FM Smt Nirmala Sitharaman has announced some reliefs for businesses to cope up with the difficult times of COVID-19. Amendments in […]
Finance Ministry issues Taxation and other Laws (Relaxation of Certain Provisions) Ordinance, 2020 today In order to give effect to the announcements made by the Union Finance Minister vide Press Release dated 24.03.2020, regarding several relief measures relating to statutory and regulatory compliance matters across sectors in view of COVID-19 outbreak, the govt has brought […]
Govt notified Taxation and Other Laws (Relaxation of Certain Provisions) Ordinance, 2020 on 31st March 2020 to give effect to Various Direct/Indirect Tax and Statutory Compliance relaxation announced on announced on 24th March 2020. Also Read- FM Press Release Dated 24.03.2020 FM Press Release Dated 26.03.2020 FM Press Release Dated 31.03.2020 TEXT OF THE Taxation […]
Foreign Trade Policy 2015-2020 extended for one year; Other immediate relief measures also announced The Union Commerce and Industry Ministry today announced changes in the Foreign Trade Policy (FTP) of Government of India. The present Policy which came into force on 1st April, 2015, is for 5 years and has validity upto 31st March, 2020. […]
वित्तीय वर्ष 1 अप्रैल 2019 से 31 मार्च 2020 ही रहेगा – – झूठी अफवाहों ने बताया की वित्तीय वर्ष में हुआ परिवर्तन वित्त मंत्रालय के राजस्व विभाग द्वारा 30 मार्च को एक अधिसूचना जारी की गई जो इंडियन स्टांप एक्ट के कुछ खास संशोधनों से संबंधित है। इसका उद्देश्य स्टॉक एक्सचेंजों के जरिये सिक्योरिटी […]
No Shortage of Medicines to combat Covid-19 outbreak; Department of Pharmaceuticals is regularly monitoring distribution and addressing issues of availability, supply & local issues with the help of other Departments and States/UTs
