Govt. constitutes advisory board u/s 8 of COFEPOSA for proceedings related to detention orders  MINISTRY OF FINANCE(Department of Revenue)(CENTRAL ECONOMIC INTELLIGENCE BUREAU) NOTIFICATION New Delhi, the 26th November, 2020 G.S.R. 737(E).—In exercise of the powers conferred by clause (a) of Section 8 of the Conservation of Foreign Exchange …

CBDT to validate Unique Document Identification Number (UDIN) generated from ICAI portal at the time of upload of Tax Audit Reports The Institute of Chartered Accountants of India, in its gazette notification dated 2nd August, 2019, had made generation of UDIN from ICAI website mandatory for every kind of …

Cash deposits out of sale of opening stock not unexplained income. High Court upheld ITAT order which followed rule of consistency  ABCAUS Case Law CitationABCAUS 3424 (2020) (11) HC In the instant case, the Revenue had challenged the order passed by the ITAT in deleting the addition on …

ICSI requests for extension of time for Annual filing of One Person Companies due to Covid-19 ICSI has requested the Ministry of Corporate Affairs (MCA) for extension of time for Annual filing of One Person Companies  (OPC) due to Covid-19 upto 31st December 2020 to ease the difficulties …

Govt. notifies scheme of merges of LVB with DBS Bank. Read how depositors and creditors shall be treated   Due to the rapidly deteriorating financial position of the Lakshmi Vilas Bank Limited, the Reserve Bank had placed the bank under moratorium.   In the interest of the public …

Banks not to grant approval to any branch office, project office, liaison office to foreign Law firms for practicing in India The Hon’ble Supreme Court in 2018 held that advocates enrolled under the Advocates Act, 1961 alone are entitled to practice law in India and that foreign law …