1. NOTIFICATION [No.09/2023/F.No.300196/39/2021-ITA-I] dated 01.03.2023 Vide this notification the Central Board of Direct Taxes (CBDT) has notified ‘Insolvency and Bankruptcy Board of India’ for the purposes of the clause (46) of section 10 of the Income-tax Act, 1961. The exemption shall be available in respect of Grants-in-aid, fees & fines collected under IBC and interest income accrues on them. 2. […]
In this edition we have tried to bring you notice the latest amendment that followed in the month of February, 2023 issued by MCA, RBI, SEBI others. MCA MCA drops RoC approval for most corporate actions The Ministry of Corporate Affairs has simplified the process for corporate reporting, eliminating the need for approval by Registrars of Companies (RoCs)in most cases […]
I Squared Capital Buys Controlling Stake in Gram Power for $100 Mn I Squared Capital, a multinational private equity firm, has invested $100 million for a controlling stake in the Jaipur-based smart metering business Gram Power (around Rs 826.55 crore). Gram Power is entirely owned by Singapore-based Polaris Smart Metering Pte Ltd. However, the enterprise value of the deal could […]
Vide this circular the Central Board of Direct Taxes (CBDT) has further extended the time limit to 31st March, 2023 for compliance to be made for claiming any exemption under section 54 to 54GB of the Income Tax Act, 1961 (“the Act”) in view of the Covid-19 Pandemic. The period of investment for capital gain exemption which was earlier extended […]
GST Calendar –Compliances for the month of January’2023 Nature of Compliances Due Date GSTR-7 (Tax Deducted at Source ‘TDS’) February 10, 2023 GSTR-8 (Tax Collected at Source ‘TCS’) February 10, 2023 GSTR-1 February 11, 2023 IFF- Invoice furnishing facility (Availing QRMP) February 13, 2023 GSTR-6 Input Service Distributor February 13, 2023 GSTR-2B (Auto Generated Statement) February 14, 2023 GSTR-3B February […]
In this edition we have tried to bring you notice the latest amendment that followed in the month of January, 2023 issued by MCA, RBI and SEBI others. RBI Update Changes in Bank KYC Norms In the latest guideline, the RBI said that Bank account holders who have already submitted valid documents and haven’t changed their addresses are no longer […]
GEF Capital Invests Rs. 500 Cr In E-Mobility Firms The e-mobility businesses Electra EV and Hero Motors Ltd. have received investments from the private equity fund GEF Capital Partners totaling more than 500 crore rupees. This is a component of the investor’s plan to increase their stake in India’s climate and sustainability potential. With this, GEF has invested eight times […]
In this edition we have tried to bring you notice the latest amendmentCirculars that followed in the month of December, 2022 issued by MCA, RBI, SEBI, DIPP and others. Introduction of Investor Risk Reduction Access (IRRA) platform in case of disruption of trading services provided by the Trading Member (TM) . Capital markets regulator has introduced an Investor Risk […]
CBDT exempts Non-Residents (NR) not having PAN from mandatory e-filing of Form 10F till 31-03-2023. Partial Relaxation With Respect To Electronic Submission of Form 10F by Select Category of Taxpayers In Accordance With DGIT (Systems) Clarification for the purpose of clause (c) of Section 269ST of Income Tax Act, 1961 in respect of dealership/distributorship contract in case of Co-operative Societies- […]
GST Calendar –Compliances for the month of December’2022. Nature of Compliances Due Date GSTR-7 (Tax Deducted at Source ‘TDS’) January 10, 2022 GSTR-8 (Tax Collected at Source ‘TCS’) January 10, 2022 GSTR-1 January 11, 2022 IFF- Invoice furnishing facility (Availing QRMP) January 13, 2022 GSTR-6 Input Service Distributor January 13, 2022 GSTR-2B (Auto Generated Statement) January 14, 2022 GSTR-3B January […]