Why do countries want to host the Olympics?

Hosting the Olympics is considered to be prestigious for developed nations. The Olympics create a high constrain on the economy, So the question arises...

Cabinet approves various amendments in LLP Act ,2008

With the motive of facilitating greater ease of business in India, the government on Wednesday i.e. 28.07.2021 approved certain amendments in the LLP Act,...

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Supreme Court Ruling on applicability of PF on allowances

Background The Supreme Court verdict dated 28 February 2019 in the case of Regional Provident Fund Commissioner West Bengal v. Vivekananda Vidayamandir and others reiterated...

Salient features of Banning of Unregulated Deposit Scheme Ordinance, 2019 restricting acceptance of loans & deposits from any person other than relatives

Ministry of Law and Justice notified The Banning of Unregulated Deposit Schemes Ordinance 2019 vide notification published in official Gazette on 21st February 2019. It...

KYC for Companies to be filed with Registrar latest by 25th April, 2019 as notified by MCA

Ministry of Corporate Affairs (MCA) has introduced KYC of Companies by inserting Rule 25A under Companies (Incorporation) Rules, 2014. This has been notified by MCA vide notification dated...

GST Update – Circulars issued by CBIC related to returns & invoices

GST Policy Wing, CBIC has issued three circulars on 18th February, 2019 as listed below in brief. Circular No. 90/09/2019 – GST dated 18-02-19:  All registered...

Norms for Angel tax relaxed; no tax on issuance of shares up to Rs. 25 crore

The Department for Promotion of Industry and Internal Trade (DPIIT) has issued a new notification in supersession of its earlier notification no. GSR 364(E),...

Penalty u/s 271I – Non furnishing of Form 15CA and Form 15CB

Notice u/s 271I states that if the assessee has failed to furnish information or has furnished inaccurate information u/s 195(6) in form of filing of...

Representation against contention of GST Department for interest liability u/s. 50 on ITC component

A recent “Standing Order” No.01/2019  issued by the Principal Commissioner of Central Tax, Hyderabad on 04-02-2019, instructs GST Tax Officials and field formation Officers to inquire into...

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