1. The Insolvency and Bankruptcy Board of India (IBBI) issued the clarification on the requirement of seeking a No Objection Certificate or No Dues Certificate from the Income Tax Department during the Voluntary Liquidation Process under IBC. 2. Regulation 14 of the IBBI (Voluntary Liquidation Process) …
In a major setback to the HDFC Bank, the Delhi High Court refused to issue Form ‘F’ in respect of inter-state stock transfers due to default in paying Central Sales Tax. Facts of the case:- A petitioner that as a part of its business operation, from …
1. The Institute of Chartered Accountants of India (ICAI) has notified the Appointment of authorized representatives at Polling Booths. 2. As per rule 26 of the Chartered Accountants (Election to the Council) Rules, 2006 a candidate is entitled to be present at the polling booths in …
The Kerala High Court allowed the CA alleged of dishonestly preparing loan applications in the name of a non-existing company to file a Discharge Application. Facts of the case:- The accused, Thomas Cherian being a Chartered Accountant during 2002-2003 dishonestly prepared the loan application for Rs.200 …
1. The Director-General of Foreign Trade (DGFT) has notified the extension of the Date for Mandatory electronic filing of Non-Preferential Certificate of Origin (CoO) through the Common Digital Platform to 31st January 2022. 2. In continuation to the earlier Trade Notice 42/2020-2021 dated 19.02.2021, 48/2020-2021 dated …
1. The Securities and Exchange Board of India (SEBI) has notified the Securities and Exchange Board of India (Alternative Investment Funds) Fifth Amendment) Regulations, 2021 which is in relation to co-investment made by investors of Alternative Investment Funds. 2. After clause (f) of sub-regulation (1) of …
The Mumbai Bench of Income Tax Appellate Tribunal (ITAT) ruled that Income Tax Exemption cannot be denied to the Board of Control for Cricket in India (BCCI) merely because IPL is structured in a more profitable manner. Facts of the case:- The appellant, BCCI had approached …
The Customs, Excise, and Service Tax Appellate Tribunal (CESTAT), Kolkata Bench quashed penalty on Goods Imported from Bangladesh as no Customs duty was short paid due to collusion, willful misstatement, and the South East Asia Free Trade Agreement (SAFTA) Certificate was duly verified. Facts of the …
a) The Income Tax Department has announced the roll-out of a new statement namely Annual Information Statement (AIS) which would provide you with almost all details about your financial transactions during the year. The Income Tax Department has been issuing Form 26AS to provide information related …
1. The Securities and Exchange Board of India (SEBI) has notified the the Securities and Exchange Board of India (Portfolio Managers) (Fourth Amendment) Regulations, 2021 which seeks to amend Securities and Exchange Board of India (Portfolio Managers) Regulations, 2020. “Alternative Investment Fund” shall have the same …