Violation of provisions of Company Law by Companies and action taken by MCA. Today, Union Minister of State for Finance & Corporate Affairs, in response to a written question in the Lok Sabha informed about the action taken by the MCA on companies that have violated the provisions …

Enabling on e-invoice GST portal. Taxpayers required to prepare invoice in terms of Rule 48(4) of CGST Rules may request for enablement. Enabling on e-invoice GST portal – GSTN Advisory Certain taxpayers are required to prepare gst e-invoice in terms of Rule 48(4) of CGST Rules (e-invoicing). As …

Banks to automate Income Recognition, Asset Classification & Provisioning processes Reserve Bank of India (RBI), in order to ensure the completeness and integrity of the automated Asset Classification (classification of advances/ investments as NPA/NPI and their upgradation), Provisioning calculation and Income Recognition processes, has advised banks to put …

Asset Allocation of Multi Cap Schemes of Mutual Funds-SEBI Clarification   Securities and Exchange Board of India   PR No. 46/2020   Clarification pursuant to Circular dated September 11, 2020- Regarding Asset Allocation of Multi Cap Schemes of Mutual Funds   SEBI’s 2017 circular on scheme categorization sought …

Separate agreement towards rent of property and hiring charges for equipment and services allowable. Revenue cannot prevent it merely for loss to Revenue. ABCAUS Case Law CitationABCAUS 3395 (2020) (09) ITAT Important case law relied upon by the parties:Ranbaxy laboratories vs. CIT (2011) 336 ITR 136 (del)CIT vs. …

Reassessment made by issue of notice 143(2) before filing of return of income is invalid and not sustainable in the eyes of law ABCAUS Case Law CitationABCAUS 3394 (2020) (09) ITAT Important case law relied upon by the parties:Singhad Technical Society 397 ITR 344.Fast Booking (I) Pvt. Ltd. …