SEBI has been notified as the regulator of gold exchanges in the country. SEBI has come up with the ‘Framework for operationalizing the Gold Exchange in India’ vide Circular dated January 10, 2022 and has also declared the instrument for trading in Gold Exchange ,i.e., EGRs as ‘securities’ under Section 2(h)(iia) of the Securities Contracts […]
The Securities and Exchange Board of India (SEBI) on Tuesday, 20th December,2022 amended the buyback rules to gradually phase out the Open Market Route in favor of the Tender Route. SEBI has improvised the present share buyback norms for listed companies and has tightened the disclosure rules to increase the transparency and credibility of the […]
WHAT IS A BUSINESS TRUST? Section 2(13A) of Income Tax Act defines Business Trust as below: “Business trust” means a trust registered as, — (i) an Infrastructure Investment Trust under the Securities and Exchange Board of India (Infrastructure Investment Trusts) Regulations, 2014 made under the Securities and Exchange Board of India Act, 1992 (15 of […]
SECTION 54 OF INCOME TAX ACT, 1961 Section 54 gives exemption to a taxpayer who sells his residential house and acquires another residential house property from the sale proceeds. Only an Individual/HUF can avail this benefit under this section. Section 54 provides the exemption which will be the lower of the following: Exemption is available […]
WHAT IS ADVANCE TAX? Advance tax means income tax should be paid in advance instead of lump sum payment at year end. It is also known as pay as you earn tax. These payments have to be made in instalments as per due dates provided by the income tax department. Total estimation is used for […]
APPLICABILITY E-invoicing has been made compulsory by the Government of India for the taxpayers whose annual turnover is above Rs.10 crores with effect from 1st October, 2022 vide Notification No.17/2022. The taxpayers must comply with the provisions of e-invoicing in F.Y. 2022-23 and onwards if their aggregate turnover exceeds the specified limit in any of […]
Step 1: Go to the website https://www.protean-tinpan.com/ Step 2: Click on “Challan Status Inquiry” under the ‘Services‘ tab. Step 3: We can view the challans either by providing the CIN number or the TAN number. Step 4: In case of Tan Based View, fill in the details by entering the TAN number of the assessee […]
Initial Public Offering (IPO) is a process by which a privately held company gets listed on the stock exchange and sells its shares to investors. There are several categories of investors in IPO application process. You can apply through more than one category to maximize the chances of allotment based on the eligibility criteria. RETAIL […]
The Central Sales Tax Act, 1956 defines “Turnover” as follows: Under this Act, “turnover” used in relation to any dealer liable to tax means the aggregate of the sales price received and receivable by him in respect of sales of any goods in the course of inter-State trade or commerce made during any prescribed period […]
DID YOU ALSO RECEIVE ANY NOTICE FROM THE GST DEPARTMENT REGARDING INTEREST ON LATE FILING OF GSTR 3B?Well if yes, you have your solution right here. GST Department has been scrutinizing GST returns of preceding years. Any informality or mismatch In GST returns would result in issuing of Show-Cause Notice by the department. Earlier, Late […]