SC directs defreezing of bank account seized under PMLA to pay statutory dues due to non observance of procedure prescribed   ABCAUS Case Law CitationABCAUS 3446 (2021) (02) SC Important case law relied referred:Chandra Kishor Jha vs. Mahavir Prasad and Ors. (1999) 8 SCC 266Mohinder Singh Gill & …

Setting up of Limited Purpose Clearing Corporation (LPCC) by Asset Management Companies (AMCs) of Mutual Funds Securities and Exchange Board of India   CIRCULAR   SEBI/HO/IMD/DF2/CIR/P/2021/17   February 2, 2021   Asset Management Companies (AMCs)/ Trustee Companies/ Board of Trustees of Mutual Funds/ Association of Mutual Funds in …

Conversion of One Person Company into a Public / Private company – Companies (Incorporation) Second Amendment Rules, 2021   MINISTRY OF CORPORATE AFFAIRS   NOTIFICATION   New Delhi, the 1st February, 2021   G.S.R.91(E).—In exercise of the powers conferred by sub-sections (1) and (2) of section 469 of …

Extension of due date under Direct Tax Vivad se Vishwas Act, 2020 till 28th February 2021 – CBDT Notification MINISTRY OF FINANCE(Department of Revenue)CENTRAL BOARD OF DIRECT TAXES Notification No. 04/2021 New Delhi, the 31st January, 2021 S.O. 471(E).—In exercise of the powers conferred by section 3 of …

Highlights of GST Proposals under Budget 2021-22. GST Audit requirement abolished Amendments carried out in the Finance Bill, 2021 will come into effect from the date when the same will be notified, (A) Amendments to CGST Act 2017 A new clause (aa) in sub-section (1) of Section 7 …

Increase in exemption limit u/s 10(23C)(iiiad) and (iiiae) of Income tax Act to Rs. 5 crores Clause (23C) of section 10 of the Act provides for exemption of income received by any person on behalf of different funds or institutions etc. specified in different subclauses. Sub-clauses (iiiad) of …