💡💡MCA extends due date of filing DPT-3 to 30 days from deployment of Form on MCA portal and information to given for details upto 31.3.2019 and not 22.1.2019 - Rule to be amended shortly - http://lunawat.com/Uploaded_Files/Attachments/F_4280.pdf
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High Court-Delhi in PCIT vs. Make My Trip India Pvt Ltd Section 194H TDS:Payment gateway charges paid to a bank for swiping credit cards are in the nature of fees for banking services and not "commission" or "brokerage". Accordingly, no TDS is deductible from the said charges u/s 194H and no disallowance u/s 40(a) (ia) can be made.
Last date for filing Gstr1 of March for the dealer above 1.5 crore extended to 13th April from 11th April, 2019.
CBIC and Customs clarifies that applicability of Notification No. 02/2019-Central Tax (Rate) dated March 07,2019 which prescribes the rate of central tax of 3% on firstsupplies of goods or services or both upto an aggregate turnover of fifty lakhrupees made on or after the 1st day of April in any financial year
The MPC expects low levels of inflation to continue for a long period In line with market expectations, the monetary policy committee (MPC) decided to reduce the benchmark repo rate by 25 basis points last week, to 6 per cent. Though the core CPI inflation rate dropped but remained high at 5.3 per cent in February, headline CPI inflation remained low—rising a bit—to 2.6%.
Government has managed to meet the revised fiscal deficit target of 3.4% of the GDP after it cut last minute expenditure and rolled over fuel subsidies to make up for the shortfall in tax collection. The interim Budget presented in February revised upward the fiscal deficit target to 3.4% from 3.3% of GDP estimated earlier for 2018-19.
ICAI has issued a FAQs on Valuation. The role of the valuation professionals has become dynamic and they are required to sharpen their skills and perform their duties with due diligence and to abide by the Code of Conduct prescribed by ICAI Registered Valuers Organisation.
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Analysis of NCLT Judgement in Global Rural Netco Ltd. vs. Evershine Advisory Services Private Ltd.
By not replying to the letters of the Financial Creditor, and by not filing an affidavit in reply to the petition for contesting its liability, the Corporate Debtor has admitted its liability.
Read full case analysis at : https://dasgovernance.com/2019/04/11/analysis-of-nclt-judgement-in-global-rural-netco-ltd-vs-evershine-advisory-services-private-ltd/
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👉CBIC extends due dates for Form GSTR-1 and GSTR-7 to April 13 and April 12, 2019, respectively.
👉The Income Tax (I-T) Department issues Notices to a Few Mid-Sized Multinational Corporations (MNCs) for Escaping Tax Assessments for over 7 years. Most of these Foreign Companies do not have a presence in India, and have revenues ranging from Rs 500 crore to Rs 1,500 crore, generated from sale of technology or digital services.
👉The Government is planning a major overhaul of the definition of State-Run Companies where an entity will continue to qualify as public Sector Enterprise (PSE) even if the Govt holding falls below 51%.
👉SEBI revises charges related to Basic Services Demat Account (BSDA) w.e.f. 1st June. The move is expected to further boost participation of retail investors in the debt market. Basic Services Demat Account (BSDA) offers limited services at a lower cost for retail investors.
👉BSE asks Stock Brokers to make Quarterly Disclosures & Compliance Report on AI tools, about compliance with the SEBI’s Cyber Security Framework by April 15. It asks stock brokers who are using applications based on artificial intelligence and machine learning to submit compliance report for January-March 2019 quarter in the format given by SEBI.
👉MCA extends last date of filing e-from for Appointment of Cost Auditor by the company
👉Wipro’s Largest Buyback worth Rs. 12,000.00 Crore gets approval of SEBI. This would be Wipro’s third buyback. It did a buyback of Rs 2,500 Crore worth of shares in 2016 and Rs 11,000 Crore worth of shares in 2017.
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Analysis of Supreme Court Judgement in Basalingappa vs. Mudibasappa
Having noticed the ratio laid down by this Court in various cited cases on Sections 118(a) and 139 of the Negotiable Instruments, 1881, the Court hereby summarise the principles by this Court in following manner:
(i)...
(ii)...
(iii)...
(iv)..
(v)...
Read full case analysis at : https://dasgovernance.com/2019/04/12/analysis-of-supreme-court-judgement-in-basalingappa-vs-mudibasappa/
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Income Tax Deptt With increasing computerisation and the collection of data, based on PAN, have been moving to a system of verification of such information, and taking action if such verification shows that the relevant income has not been offered to tax. The verification seems to have been carried out in many cases for financial year (FY) 2011-12.
CBDT extends due date for filing of report in respect of International group of subsidiaries of USA residents to April 30, 2019.
Karnataka High Court in the matter of Kongovi Private Limited vs. Union of India allowed revision of GST TRAN-1, due to which the eligible credit under the earlier indirect tax law could not be transferred to the electronic credit ledger of the petitioner under the GST regime.
SEBI Revises Charges Related to Basic Services Demat Account from June 1. The move is expected to further boost participation of retail investors in the debt market.
ICAI Announcement regarding extending the last date of comments on revised Guidance Note on, 'Accounting of Political Parties till 10-06-2019.
