Author: shivangiverma10

1. The Securities Exchange Board of India (SEBI) has issued circular extending relaxations relating to procedural matter-Issues and Listing. 2. SEBI had granted one-time relaxations from strict enforcement of certain regulations of SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018, pertaining to Rights Issue opening …

1. The Institute of Company Secretaries of India (ICSI) notified that Company Secretaries Benevolent Fund (CSBF) is reimbursing the medical expenses, in deserving cases, incurred by the CSBF Life Members towards Covid-19 treatment up to Rs.75,000/- (limited to Rs.50,000/- till completion of 3 years of subscription). …

The Income Tax Appellate Tribunal (ITAT), Kolkata Bench ruled that the revisional Power exercised by CIT(A) based on ‘cut & paste’ reasoning is invalid. Facts of the case:- The assessee, Satish Kumar Lakhmani has raised a legal issue wherein he has challenged the assumption of jurisdiction …

1. The Institute of Chartered Accountants of India (ICAI) today released an Exposure Draft of Lack of Exchangeability. 2. Indian Accounting Standards (Ind AS) are based on the IFRS Standards issued by the International Accounting Standards Board (IASB) of IFRS Foundation. The IASB, before issuing the …

1. The Reserve Bank of India(RBI) on Tuesday issued guidelines for the appointment of statutory auditors of banks and non-banking finance companies (NBFCs), including housing finance companies. ‘Guidelines for Appointment of Statutory Central Auditors (SCAs)/ Statutory Auditors (SAs) of Commercial Banks (excluding RRBs), UCBs, and NBFCs …

1. The Central Board of Direct Taxes (CBDT) notified the conditions for the pension fund for exemption under section 10(23FE) and substituted Form No. 10BBA. 2. The Board notified the Income-tax (11th Amendment) Rules, 2021 which seeks to further amend the Income-tax Rules, 1962. 3. In …

Judgment:- The Income Tax Appellate Tribunal (ITAT), Hyderabad Bench held that no TDS applicable if the threshold limit of Rs.20,000 is not satisfied. The revenue has raised the issue of whether the CIT(A) is right in deleting the addition of Rs.3,94,38,302/- made by the AO under …