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December 8, 2021

Central Board of Direct Taxes gave the Guidelines under Section 194Q of Income Tax Act, 1961. The CBDT Circular also covers the linkage between Sections 194Q, 194-O and 206C(1H).

E-auction services carried out through electronic portal, where the final price and payments are settled by seller/ buyer independently; Adjustment of various state levies and taxes other than GST; Applicability of section 194Q in the cases where exemption has been provided u/s 206C(1A); and Applicability of the provisions of section 194Q in the case of Government Departments (not a PSU). […]

Direct Tax
December 8, 2021

Dream Sports raises $840 mn at $8 bn valuation led by Falcon Edge, DST, others:

Dream Sports, the owner of fantasy sports platform Dream11, has announced that it has raised USD 840 million from Falcon Edge, DST Global, D1 Capital, Redbird Capital and Tiger Global. The Mumbai-based platform currently has 140 million users. Dream Sports also operates other brands like FanCode, a sports content and commerce platform, DreamSetGo, a sports experiences platform, and DreamPay, a […]

Corporate Finance
December 3, 2021

The latest Amendment that followed in the month of November, 2021 issued by MCA, RBI, SEBI, DIPP and others.

In this edition we have tried to bring you notice the latest amendment that followed in the month of November, 2021 issued by MCA, RBI, SEBI, DIPP and others. Amendments issued by MCA MCA has removed all the Disqualification of Director Identification Number (DINs) As per the Companies Act, directors for five years are disqualified, if they are part of […]

Corporate & Legal
November 11, 2021

Financial Guarantee under IND AS: All you need to know for practical implementation

Financial Guarantee: Meaning: A contract that requires the issuer (Guarantor) to make specified payments to reimburse the holder (loan giver) for a loss it incurs because a specified debtor (loan taker) fails to make payment when due in accordance with a debt instrument. Condition for classifying an instrument as financial guarantee: Payment to be made to holder only if: If above […]

Assurance
November 10, 2021

UK Autumn Budget

Rishi Sunak announced his third Budget as Chancellor of Exchequer to Parliament on Wednesday, 27th October 2021. It is a fiscal approach designed to prepare the UK for an “age of optimism” in the post-Covid-19 economy.   The Office for Budget Responsibility confirmed that economic growth in 2021 had been revised up from 4% to 6.5%, with the economy set to […]

United Kingdom
November 9, 2021

Roll out of the new Annual Information Statement (AIS)

Important Judicial Precedents RNM was established by Late Mr. R.N. Marwah in the year 1946. RNM India is one of the top ca firm in Delhi.  Commencing from the pre-independence era to the modern age of science and technology, RNM has loyally stood as a witness to the sequence of events that have gradually molded the nation and led to […]

Direct Tax
November 8, 2021

Cognizance emerging

GST Calendar –Compliances for the month of October’2021 Nature of Compliances Due Date GSTR-7 (Tax Deducted at Source ‘TDS’) November 10,2021 GSTR-8 (Tax Collected at Source ‘TCS’) November 10,2021 GSTR-1 September 2021 November 11, 2021 IFF- Invoice furnishing facility (Availing QRMP) November 13,2021 GSTR-6 September 2021 Input Service Distributor November 13, 2021 GSTR-2B (Auto Generated Statement) November 14,2021 GSTR-3B September […]

General
November 2, 2021

Amendments issued by MCA, RBI, SEBI and others

Amendments issued by MCA Relaxations in paying additional fees in case of delay in filing Form 8 (the Statement of Account and Solvency) by Limited Liability Partnerships upto 30th December, 2021: MCA issued a Circular, in which MCA announced relaxation on additional fees in filing Form 8 by LLP upto 30th December 2021. Due to the difficulty faced by LLPs […]

Corporate & Legal

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