Penalty provision for non-collection of upfront margin to be implemented w.e.f. Sept. 01, 2020: SEBI

In view of the representations received from investors, TMs / CMs, stock broker associations, in this regard, following has been decided that the penalty provision for short-collection / non-collection of…

Continue Reading Penalty provision for non-collection of upfront margin to be implemented w.e.f. Sept. 01, 2020: SEBI

Appointment of Independent Directors in Unlisted Public Cos. Which is a wholly owned subsidiary-An Overview

Independent Director is a Director other than a Managing Director or a Whole time Director or a Nominee Director who fulfills all criteria as given in Section 149(6) of the…

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HC directs RBI to enforce recovery package contained in its Circular giving relief to borrowers

FEMA, BANKING AND INSURANCE : Where in view of financial condition caused by N-Covid 19 to ease financial stress, RBI issued a Circular dated 27-3-2002 which contained detailed instructions as…

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Shareholders holding securities in physical form are allowed to tender shares in open offers and buy-backs

The SEBI has received representations from investors expressing concerns that they have not been able to participate in open offers, buybacks and delisting of securities of listed entities since the…

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Reassessment couldn’t be initiated on fact which was subject matter of consideration while passing assessment order

INCOME TAX: Where Assessing Officer sought to reopen assessment in case of assessee on ground that assessee had wrongly claimed deduction under section 80-IB(10) as completion certificate for project was…

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ITAT remanded matter to for re-adjudication as CIT(A) summarily dismissed matter ex parte

INCOME TAX : Where Assessing Officer disallowed deduction under section 80P(2)(a)(i) and on appeal, Commissioner (Appeals) summarily dismissed matter ex parte observing that appellant had neither attended nor filed any…

Continue Reading ITAT remanded matter to for re-adjudication as CIT(A) summarily dismissed matter ex parte

AOP was liable to tax at MMR if income of its members during relevant year exceeded basic exemption limit: ITAT

Income Tax : Where assessee society, registered under Societies Registration Act, 1860, was holding status of AOP, in view of fact that income of its members during relevant year exceeded…

Continue Reading AOP was liable to tax at MMR if income of its members during relevant year exceeded basic exemption limit: ITAT

MoF notifies provisions for regulating intermediaries in Special Economic Zones

The MoF has notified the Insurance Regulatory and Development Authority of India (Regulation of Insurance Business in Special Economic Zone) (Amendment) Rules, 2020 whereby provisions regarding regulation of Intermediaries or…

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