In this edition we have tried to bring to your notice the latest amendment that followed in the month of October, 2020 issued by MCA, RBI and SEBI. Amendments issued by MCA Amendments issued by RBI Amendments issued by SEBI
The concept and implementation of e-appeal mechanism is a welcome move as it would not only curb corrupt practices as intended but also reduce the time and cost for getting justice. The Faceless Appeal Scheme, 2020 provides discretionary video-call hearing in selected cases where the tax authority feels that issues are complex. Considering that the right to decide which case […]
Mubadala Investment Company will invest Rs 6,247.5 crore ($853 million) in Reliance Retail Ventures Ltd, making the Abu Dhabi sovereign wealth fund the fourth investor in the unit. This investment will translate into a 1.4% stake in Reliance Retail Ventures on a fully diluted basis. The investment values Reliance Retail at a pre-money equity valuation of Rs 4.285 trillion. Here […]
Several entities have been impacted by the COVID-19 pandemic. As per accounting prospective both Ind AS 36, ‘Impairment of assets’ and AS 28 ‘Impairment of Assets’, require that management consider at each report date whether there is any indication that an asset may be impaired. Ind AS 36 and AS 28 include both internal and external indicators to identify if […]
Introduction: The Three lines Model helps organizations to identify the framework and processes that best suits the objectives of the organization and simplifies Risk Management and Governance. A governing body is eventually responsible for governance, which is achieved through the actions and activities of the governing body as well as management. A Governing Body in any organization receives periodic reports […]
Finance Act, 2020 amended provisions relating to TCS w.e.f. 1-10-20. On 29.9.20, CBDT issued guidelines for its implementation and on 30.9.20, CBDT issued a press release clarifying its applicability. In a nutshell, following may be summarized:- TCS shall be applicable only on the receipt exceeding Rs. 50 lakh by a seller from a particular buyer. TCS is made applicable to […]
In this edition we have tried to bring to your notice the latest amendment that followed in the month of September issued by MCA. Amendment introduced by MCA Companies (Acceptance of Deposits) Rules, 2020 In exercise of the powers conferred by section 73 read with sub-sections (1) and (2) of section 469 of the Companies Act, 2013 (18 of 2013), […]
Notional interest on security deposit is taxable if it sways value of supply – AAR Karnataka Facts The plaintiff plans to enter in an agreement for renting of an immovable property to an Educational Institution. Ensuing the agreement, the rent is Rs. 1.5 lacs per month and refundable security deposit is Rs. 500 lakhs, the same is refundable on termination […]
Indiabulls India Estate and two subsidiaries of the Embassy Group have entered into an agreement to merge their residential and commercial projects. This shall become one of the India’s leading real estate development platforms, with 80.8 Million sq. ft. launched and planned development potential. Here are the latest financial news of private equity, venture capital and mergers & acquisitions: Private […]
We all live in a dynamic world, which keeps on changing and evolving every moment. Among all other facets of life, these dynamics affect the way, we do business. Accordingly, there is a need for businesses to adapt to the changes and to constantly upgrade their systems and procedures in accordance with the changing times, to ensure their growth and […]