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No modifications or withdrawals of CoC-approved Resolution Plans at behest of successful Resolution Applicant once plan submitted to Adjudicating Authority- Supreme Court In a recent judgment the Hon’ble Supreme Court have held that under the existing insolvency framework in India there is no scope for further modifications or …
CBDT prescribes Income Tax Authority other than Assessing Officer who can also issue notice u/s 142(1) CBDT has notified the Income-tax (29th Amendment) Rules, 2021. They shall come into force from the date of its publication in the Official Gazette. The amendment has inserted Rule 12F in the …
Formula for Refund of ITC u/s 89(5) is not ultra vires. Supreme Court urges GST Council to reconsider formula and take a policy decision ABCAUS Case Law CitationABCAUS 3550 (2021) (09) SC Important case law relied referred:VKC Footsteps India Pvt. LtdTvl. Transtonnelstroy Afcons Joint Venture Section 54 of …
CBDT issues clarification regarding carry forward of losses in case of change in shareholding due to strategic disinvestment CBDT clarification on carry forward of losses for shareholding change due to strategic disinvestment Finance Act, 2021 has amended section 72A of the Income-tax Act, 1961 (the Act) to inter alia provide …
Know all about Account Aggregator Network- FAQs on Account Aggregator Network , a financial data-sharing system Last week India unveiled the Account Aggregator (AA) network, a financial data-sharing system that could revolutionize investing and credit, giving millions of consumers greater access and control over their financial records and …
Income Tax e-Filing portal – Technical issues are progressively addressed and there has been a positive trend in the statistics of filings on the portal. The e-Filing portal of the Income Tax Department was launched on 7th June, 2021. Taxpayers and professionals have reported glitches and difficulties in …
SEBI Listing Obligations & Disclosure Requirements 5th Amendment Regulations 2021 SEBI has amended the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 by notifying the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) (Fifth Amendment) Regulations, 2021. The Amendments come …
MoU signed between ICAI & The Chamber of Auditors of the Republic of Azerbaijan (CAAR) Cabinet approves Memorandum of Understanding between The Institute of Chartered Accountants of India (ICAI) and The Chamber of Auditors of the Republic of Azerbaijan (CAAR) The Union Cabinet has approved the for signing …
Eligibility to appear in Old/New scheme in November, 2021 CA examination – ICAI Announcement As per ICAI Announcement, students converted from earlier scheme to revised scheme from July 21, 2021 to August 20, 2021 allowed to appear in Old/ New scheme in November, 2021 examination The ICAI vide …
SEBI mandates certification for principal officer/employees of Portfolio Managers having decision making authority related to fund management As per the notification No. SEBI/LAD-NRO/GN/2021/49 issued the following is prescribed: Certification requirement for Portfolio Managers 1. The associated persons functioning as principal officer of a Portfolio Manager or employee(s) of …
