CAclubindia Articles

IBBI clarifies role of RP & liquidator in avoidance transactions

Posted by CS Lalit Rajput 10 December 2021 1456 Views

The Insolvency and Bankruptcy Board of India (IBBI) vide Facilitation / 001 / 2020 dated 08th May, 2020 has issued circular on Role of Resolution Professional / Liquidator in respect of Avoidance Transactions for educating the IPs and other stakeholders.

Section 151: Sanction for Issue of Notice - An Important Safeguard

Posted by CA, CPA (USA) Shikhar Garg 10 December 2021 13903 Views

Section 151 of the Income Tax Act 1961(Act), provides that Assessing officer (AO) has to take approval from the higher authority before issuing the notice u/s 148. AO, by the provisions of section 147 of the Act, has the power, to reopen the already completed Assessment.

All about MGT-14: Filing of special resolutions to the ROC

Posted by Tanuj Chandra Saxenaa 09 December 2021 10379 Views

MGT-14 needs to be Filed by a Company with the Registrar of Companies (RoC) in accordance with section 94(1) and 117(1) of the Companies Act 2013 and the rules made thereunder.

Valuation & provisional assessments under customs

Posted by Vivek Jalan 09 December 2021 3908 Views

Valuation is one of the most crucial aspect for an organisation engaged in import and export of gems, precious and semi-precious stones considering high value transactions.

Consequence of non-filing of appeal in respect of cases where the tax effect is less than the prescribed monetary limit

Posted by FCS Deepak Pratap Singh 09 December 2021 3969 Views

As you are aware that the Commissioner may, of he objects to any order passed by the Commissioner (Appeal) under Section 154 or Section 250, direct the Assessing Officer to appeal to the Tribunal against the said order. However, such direction shall be given only in those cases only in those cases where Tax Effect exceeds the specified amount.

Features of the new tax information portal launched by CBIC

Posted by CA Pankaj Jain 08 December 2021 7961 Views

CBIC has launched a revamped tax information portal Click Here. With the help of this portal, all indirect tax legislations, rules, regulations and forms will be available for the easy reference of taxpayers. CBIC will continuously update and expand this portal in a phased manner.