• March 21, 2024

A company has decided to construct a manufacturing plant for its business. Due to unavailability of housing resources in the backward area, the company has decided to purchase a residential building which is to be used for housing the workers engaged in the construction of the plant. Further, the company has raised a loan from […]

• March 20, 2024

Meenakshi Subramaniam – [2024] 160 taxmann.com 420 (Article) One income tax officer and a taxpayer were stranded on an island. Nothing was there, except a storage tank. The income tax officer pointed to it, ” That is a building.” The taxpayer said: “No, sir.” The income tax officer said: ” That’s land, alright.” The taxpayer […]

• March 19, 2024

The Institute of Chartered Accountants of India (ICAI) on 16.03.2024 has decided to defer the applicability of the Peer Review Mandate for the Practice Units covered under Phase II and III. Multiple requests have been received from practice units to extend the deadline. Considering the above requests the ICAI has decided to defer the applicability […]

• March 18, 2024

Press Release; Dated: 15.03.2024 The IEPF Authority is reaching out to stakeholders for their valuable insights to simplify, expedite and streamline the claims settlement process. In line with its commitment to enhancing the investor experience, IEPFA is soliciting comments from various stakeholders to reimagine the refund process under the Companies Act, 2013. The aim is […]

• March 17, 2024

Notification No. S.O. 1361(E); Dated: 14.03.2024 Govt. has notified the Foreign Exchange Management (Non-debt Instruments) (Second Amendment) Rules, 2024. An amendment has been made to rule 2(aq), which defines the term ‘unit’ as the beneficial interest of an investor in an investment vehicle. As per the amended norms, an explanation has been inserted to the […]

• March 16, 2024

Notification No. G.S.R 194(E); Dated: 14.03.2024 The Govt. has notified the Special Economic Zones (Second Amendment) Rules, 2024. An amendment has been made to Rule 21B of the existing rules. As per the amended norms, the term ‘aircraft leasing’ has been replaced with ‘aircraft or ship leasing’. Accordingly, units set up in IFSC authorized to […]

• March 15, 2024

Informal Guidance No. SEBI/HO/AFD/PoD/OW/2023/49070, Dated: 12.12.2023 Mangalkari Asset Investment AIF registered with SEBI sought informal guidance as to whether a threshold limit of 25% in an Investee Co. under regulation 15(1)(c) of AIF Regulations shall apply at the level of individual target co. acquired by ARC Trust or it will be at the level of […]

• March 14, 2024

GSTN Update dated March 12th, 2024 The GSTN has issued an advisory to inform all taxpayers that two new Table 14A and Table 15A have been introduced in GSTR-1 to capture the amendment details of the supplies made through e-commerce operators (ECO) on which e-commerce operators are liable to collect tax under section 52 or […]

• March 13, 2024

Case Details: Indian National Congress All India Congress Committee v. DCIT - [2024] 160 taxmann.com 260 (Delhi-Trib.) Judiciary and Counsel Details G.S. Pannu, Vice President & Anubhav Sharma, Judicial Member Vivek Krishna Tankha, Sr. Adv. Vipul Tiwari & Inder Dev Singh, Advs. for the Appellant. Zoheb Hossain, Vipul Agarwal, Sr. Standing Counsel, Sanjeev Menon, Jr. Standing Counsel, Vivek Gurnani, Rajat Sen & Waseem […]