No denial that the impacts of COVID-19 are far more severe and long lasting than initially estimated. Some of the effects and risks are related to Governance, Environmental and Social (GES) aspects and hence to be managed accordingly for GES and similar issues affecting the investment portfolios and traditional financial factors. COVID-19 started during March 2020 in India as a […]
In view of the situation emerging out of the outbreak of COVID-19, which requires adherence of social distancing norms, the stakeholders have pointed about various difficulties MCA after considering this fact granted certain relaxation few of them are briefed as under. The Ministry of Corporate Affairs (MCA) has notified the amendments to Schedule VII of the Companies Act, 2013. The amendment is […]
The government vide notification dated June 24 2020 has extended the time limits of various tax-compliances. This is aimed to provide further relief to the individuals due to ongoing corona virus pandemic. The benefits/extensions include:- For FY 18-19, ITR can be filed up to 31.7.20. For FY 19-20 Important Statutory developments Important Judicial Precedents
Abu Dhabi Investment Authority (ADIA), which invests money globally on behalf of UAE’s emirate, which invest money globally on behalf of UAE’s emirate is investing Rs 5,683.5 Cr ($752 million) in Jio Platforms. ADIA’s investment will translate into a 1.16% stake in Jio Platforms. Together, ADIA and Mubadala will own 3.01% stake in Jio. Here is some latest financial news […]
In the testing time the government has been supporting by deferring the compliance dates and capping Late fees. Clarification is offered by CBIC on the limitation of GSTR-2A mismatch would not apply on ITC from RCM, Imports and ISD and non exigibility of GST on Directors Remuneration to executive directors. Gujarat High Court, Ruling-1 Om Sai Trader– Issue Involved: Validity […]
CBDT has notified new Income Tax Return (ITR) forms for the Assessment Year 2020-21. New additional columns and schedules have been introduced by CBDT in the recently notified ITR Forms. These new data requirements are designed to capture new essential tax information. Some of these changes are a direct result of the Income tax act amendments made through the Finance […]
CSR (Corporate Social Responsibility) utilisation advisory As per section 135 of the Companies Act, 2013 certain companies are required to spent money in CSR Activities, company can spent money either In case where a company transfer the CSR fund to third party i.e. trust, Society, section 8 companies for public welfare, all such companies should obtain an independent practitioner’s report […]
Jio Platforms has raised Rs 78,562 Cr from leading technology investors within a month. Reliance industries Ltd (RIL) is now considering an overseas listing of Jio platforms. The enterprise value of Jio Platforms has reached Rs 5.15 Tn, within 6 months. RIL is also approaching the Indian capital market to raise Rs 53,000 Cr via its first right issue in […]
Delhi High Court, Ruling-1 Bharti Airtel Pvt. Ltd. – Issue Involved: Amendment of GSTR-3B filed Facts: With the introduction of GST Law, the telecom company got approximately 50 GST registrations all across the country. Due to significant difference in compliance in the implementation of new law, there were some technical changes for enabling GSTR-1/2/ and 3 which couldn’t be operationalized, […]
In view of the situation emerging out of the outbreak of COVID-19, which requires adherence of social distancing norms, the stakeholders have pointed about various difficulties MCA after considering this fact granted certain relaxation few of them are briefed as under. Clarification on holding of annual general meeting (AGM) through video conferencing (VC) or other audio visual means (OAVM) Further […]