Loss from one Virtual Digital Asset (VDA) cannot be set off against income from another VDA. In our February month’s tax alert we mentioned the new scheme of taxation on virtual digital assets and also brought up the issue regarding the set-off of loss from one VDA with income of another VDA. Relevant extracts of the February tax alert: “Whether […]
Axis Bank to acquire Citi’s consumer business in India for $1.6 bn: One of the leading private sector banks in India, Axis Bank has agreed to acquire Citibank’s consumer business in India. The deal will be undertaken for INR 12,325 crore ($1.62 billion), in an all-cash deal, which includes Citi’s credit cards, retail banking, wealth management, and consumer loan business. Presently, Citibank […]
GST Calendar –Compliances for the month of March’2022 Nature of Compliances Due Date GSTR-7 (Tax Deducted at Source ‘TDS’) April 10,2022 GSTR-8 (Tax Collected at Source ‘TCS’) April 10,2022 GSTR-1 April 11,2022 IFF- Invoice furnishing facility (Availing QRMP) April 13,2022 GSTR-6 Input Service Distributor April 13,2022 GSTR-2B (Auto Generated Statement) April 14,2022 GSTR-3B April 20,2022 GSTR-5 (Non-Resident Taxable Person) April […]
In this edition, we have tried to bring you to notice of the latest amendment that followed in the month of March 2022 issued by MCA, RBI, SEBI, DIPP and others. Amendments issued by SEBI SEBI has issued a Notification regarding Change in control of the Sponsor and/or Manager of the Alternative Investment Fund involving the scheme of arrangement under the […]
In February 2020, MCA notified the new CARO 2020, thereby, replacing the erstwhile CARO 2016. The new CARO 2020 has introduced a number of new or modified reporting requirements to be fulfilled by the auditors such as revaluation of property, plant, and equipment (including the right of use assets) or intangible assets, Benami property, working capital limits on basis of […]