IT : System of processing TDS statements gives an option to assessee-deductor to correct invalid/No PAN entries in TDS statement through a correction statement without any restriction of correcting particular PAN with regard to number of characters
Saturday, 2 January 2016
Sec. 292B couldn't be invoked to cure a mistake where penalty order was passed under a different sec
IT: Where notice for initiation of penalty proceedings against assessee had not been issued under section 221 and penalty order had also not been passed under section 221 but under section 140A(3), this mistake was not covered under umbrella of provisions of section 292B
SEBI provides an option to avoid penalty on private placement of upto 200 investors for cases prior
SEBI : PROCEDURE TO DEAL WITH CASES PRIOR TO 1-4-2014 INVOLVING OFFER/ALLOTMENT OF SECURITIES TO MORE THAN 49 UP TO 200 INVESTORS IN A FINANCIAL YEAR
SEBI revises Application-Cum-Bidding Form
SEBI : REVISED CONTENTS OF APPLICATION-CUM-BIDDING FORM AND MANNER OF DISCLOSURE
RBI revises criteria to extend credit facilities to step-down subsidiaries of Indian Companies
BANKING : EXTENSION OF CREDIT FACILITIES TO OVERSEAS STEP-DOWN SUBSIDIARIES OF INDIAN CORPORATES
Assessee can't claim lower depreciation due to under-utilization of asset for working out PLI under
IT/ILT : Where comparables had debtors, inventories and creditors, while assessee was not having any debtors and was entirely funded by advance received from AE against supplies, then in order to bring parity between results of selected comparables and that of assessee, it was essential that adjustment for working capital was made on results of such comparables
SEBI issues procedure to ensure compliance with securities contract regulations, 2012 by Listed Stoc
SEBI : PROCEDURE FOR ENSURING COMPLIANCE WITH SECURITIES CONTRACTS (REGULATION) (STOCK EXCHANGES AND CLEARING CORPORATIONS) REGULATIONS, 2012 (SECC REGULATIONS) BY LISTED STOCK EXCHANGES
Now 'Gold Exchange Traded Funds' can invest in Gold Monetisation Scheme
SEBI : INVESTMENT BY GOLD ETFs IN GOLD MONETISATION SCHEME OF BANKS
IRDA enables online system for registration or renewal of broking licenses
INSURANCE : ONLINE SYSTEM FOR REGISTRATION/RENEWAL OF BROKING LICENSES
Regional directors to receive report from ROC on violation of offences with imprisonment below 2 yea
COMPANIES ACT, 2013 : SECTION 458, READ WITH SECTION 208, OF THE COMPANIES ACT, 2013 - DELEGATION BY CENTRAL GOVERNMENT OF ITS POWERS AND FUNCTIONS - DELEGATION OF POWERS TO SPECIFIED REGIONAL DIRECTORS UNDER SECTION 208
HC slams revenue for filing condonation application signed by clerk of counsel
Excise & Customs: In case of delay in filing of appeal by department, condonation of delay application must be signed by department's officials and signing of said application/affidavit by clerk of department's counsel is highly condemnable
Seized docs containing only name of parties and amount can't be said to be maintained in normal cour
IT: Where document said to be maintained by assessee for invoking section 158BA(3) was very vague, without having details of dates and proof of transaction with parties except parties names and amount, this document would not be considered as 'other documents' maintained in normal course to exclude relevant amount from block period
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