The requirement to file a tax return in India is provided under Section 139(1) of the Indian Income-tax Act, 1961 (the Act), whereby all companies are required to furnish an income tax return irrespective whether the income earned by them (which has territorial nexus with India) is chargeable to tax in India or not (see […]
The 39th GST Council Meeting was held on 14th March, 2020 at New Delhi. The GST Council has made various recommendations on procedure as well as law, including in respect of (i) Aadhaar authentication, (ii) entities undergoing corporate insolvency resolution, (iii) disbursal of refunds on account of zero-rated supplies, (iv) deferment of e-invoicing and QR […]
We are pleased to share with you the copy of our latest edition of “TaxBuzz…”, wherein we have analysed the recent ruling of the Bombay High Court (Goa Bench) in the case of Sesa Goa Ltd., wherein the Court has upheld the claim of the assessee regarding allowability of deduction under section 40(a)(ii) of the […]
We are pleased to share with you the copy of our latest edition of “TaxBuzz”. The Finance Bill, 2020 was introduced by the Finance minister while presenting this year’s Union Budget. Subsequently, several significant substantive changes in the Income-tax Act were proposed by way of amendments to the Finance Bill, 2020, which have been passed […]
The Hon’ble Finance Minister vide press conference held on 24.02.2020, announced several important relief measures taken by the Government of India in view of COVID-19 outbreak, especially in the much needed area of statutory compliances under the Income Tax, which are tabulated hereunder: Reduced Interest rates The press release states that interest at reduced rate […]
The National Company Law Appellate Tribunal (“NCLAT”) by its judgement dated February 17, 2020 in the case of JSW Steel Limited v. Mahender Kumar Khandelwal and Others (Company Appeal (AT) (Insolvency) No. 957 of 2019) allowed JSW Steel to acquire Bhushan Power and Steel Limited (“BPSL”) for INR 19,700 crores, while at the same time […]
