corporate and Professional Updates on 12th March 2019

Direct Tax Updates:

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  • CBDT has started paving the way for offshore fund managers to relocate to India for managing their offshore funds without having to face any adverse tax consequences. This is being done for the public markets space, mainly foreign portfolio investors structures.

Indirect Tax Updates:

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  • In first-of-its-kind meeting of a federal forum in the midst of the code of conduct of general elections, the Goods and Services Tax (GST) Council is scheduled to meet on March 19 to finalise guidelines to support the changed tax rate structure for under construction houses. This would be the only substantive item that will be taken up, officials in the know said. The meeting will happen via a video conference.
  • The pending decision to introduce parity in GST rates on government and private lottery is unlikely to feature in the meeting. Sources said the meeting of group of ministers (GoM) mandated to deliberate on the issue of lottery was cancelled at the last moment. It is learnt that the decision to cancel the GoM meeting was taken to prevent any possible violation of the model code of conduct, which has set in on Sunday following the announcement of general elections to the Lok Sabha by the Election Commission of India.
  • The law review committee and the fitment committee under the GST Council deliberated on setting up the guidelines for taxpayers after the rates on under construction houses were slashed in the last Council meeting on February 24. The GST rate for affordable houses was reduced to 1 per cent, while that for all other under construction houses was reduced to 5 per cent.
  • The need for detailed guidelines or rules was borne from the fact that the rate reduction made builders ineligible to avail input-tax credit (ITC) in the value chain, which would bring back informal cash channels to the real estate business. The committees are said to have gone ahead with the mandatory requirement for builders to procure 80 per cent of their inputs from registered dealers in the formal sector. The new rates and rules come into force on April 1.  In addition, the rules would specify the extent to which the opening input-tax credit on April 1 could be used by builders. It is likely that the Council would take a decision to utilise credit to the extent of the completion of the housing project.
  • Experts said the projects that are nearing completion would benefit the most from the rules, which are learnt to have been submitted to the GST Council. It is yet not known as to which authority would certify the extent of completion, but experts said it would be subject to audit nonetheless. The guidelines would also have the methodology to deal with properties which have a mix of residential and commercial spaces.
  • CBIC has said that the TCS amount would be excluded from the value of goods for computing GST liability. Under the Income Tax Act, the TCS is levied at one per cent on purchase of motor vehicles above Rs 10 lakh, jewellery exceeding Rs 5 lakh and bullion over Rs 2 lakh.
  • Indian businesses that paid most of their GST liability using input tax credit. Tax officials have sent emails seeking information from businesses that paid over 95% of their dues using input tax credit to ascertain the key factors responsible for subdued GST collections.

FAQ’s on GST:

Ques. Is a “Bill of Supply” to be issued by a bank for exempt services like interest on loans and advances, inter-se sale or purchase of foreign currency amongst banks?

ANS. As per clause (c) of sub-section (3) of section 31 of the CGST Act, 2017 read with Rule 49 of the CGST Rules, 2017, there is a requirement for issuance of bill of supply for supply of exempt services by Banks. It may be noted, however, that there is no need to issue a separate bill of supply in case any invoice or document has already been issued in accordance with the provisions of any other law. Further, in view of the provisions contained in sub-rule (5) of rule 54 of the CGST Rules, 2017, banks may issue any other document in lieu of bill of supply.

Ques. Where a Bank takes a separate registration for a separate business vertical, say for Bullion business, whether the requirement for reversal of 50 percent will also apply to bullion purchased by the Bank?

ANS. In terms of Section 2(94) read with Section 25(4)&(5) of the CGST Act, 2017, a person required to obtain more than one registration within a State or more than one State shall be treated as a distinct person for each such registration. Section 17(4) of the CGST Act, 2017 is applicable qua each registration and not for the Bank as a whole, provided each of the business verticals is separately registered. Therefore, a bank engaged in trading in bullion may not opt for 50 percent reversal in respect of its purchases of bullion, where it is separately registered as a business vertical.

Other Updates:

  • PNB awaits SBI resolution plan on Jet Airways.
  • NSE launches weekly options on Nifty IT index.
  • Venezuelans scramble for food, water as oil exports hit.
  • Crisis-hit Jet Airways defaults on repayment of ECBs.
  • Former Essar directors oppose Arcelor takeover.
  • TVS Motor announces 2nd interim dividend of 140%.
  • Siemens’ Finance arm buys 46% Stake in Greenko’s wind unit.
  • Oil, Gas Policy: Govt not to seek share of profits in less explored areas.
  • Moody’s upgrades rating for Central Bank, IOB over capital infusion.
  • IRDAI seeks proposal from LIC on stake reduction in the IDBI Bank.
  • GST Council to meet on March 19 to finalise real estate tax structure.
  • RBI inching towards becoming tenth largest holder of gold worldwide.
  • Godfrey Phillips denies charges of FDI norms violation.
  • Dr Reddy’s wants UK firm to pay $70-million compensation.
  • MEP Infra secures over ₹1,400 Cr for 3 ‘Hybrid Annuity’ Road Projects.
  • Auto woes drive dip in German industrial output.
  • Prices of BLF fall in most tea producing states in February.
  • NHPC eyes 46% higher capex next fiscal.
  • National Housing Bank’s norms will not address credit risk of HFCs.
  • Govt bans unregulated deposits offered by builders, jewelers.
  • Jet Airways denies report of ₹2,050 Crore loan from PNB.
  • RBI warned of demonetisation impact on Indian economy, no effect on black money.
  • China pushes against US demands on trade deal enforcement, yuan.
  • Encouraging neighbours to buy electricity from India: CERC eases Power trading norms.
  • Jaypee homebuyers will get Flats in 3 years, assures NBCC.
  • Steel-making units for SME sector become imperative.
  • HSBC Daisy moves Supreme Court in Anil Ambani, Reliance Infratel’s Rs 230 Crore default case.
  • Sensex posts biggest gains in 6 Months, reclaims 37K mark in Pre-poll Rally.
  • FCI sells almost entire pulses stock of 2.98 lakh tonne.
  • Global economy hits weakest spell since financial crisis a decade ago.
  • Rupee gains 25 Paise against Dollar on Positive cues.

Key Due Dates:

  • 10th March 2019- Monthly GST-TDS/TCS payment in form GSTR-7 for the month of February 2019 under GST.
  • 11th March 2019- GST Filing of returns by registered person with aggregate turnover more than 1.50 crores (GSTR-1) for February 2019.
  • 15th March 2019- Due date for forth and last installment/ entire amount of advance tax for Assessee having presumptive basis income,
  • 20th March 2019 – GST monthly return for the month of February 2019 (GSTR-3B)
  • 15th March 2019- Due date for PF and ESIC payment.
  • 25th March 2019- Due date for filing monthly return of PF.
  • 30th March 2019- Challan cum statement for TDS u/s 194 IA for immovable property and 194 IB for rent payment for February 2019.
  • 31st March 2019 – PT payment for the month of February 2019.
  • 31st March 2019 – Due date for filing of GSTR 3B and 1 from July 2017 to September 2018 without late fees.
  • 31st March 2019 – Due date for filing of ITC 4 under GST for claiming Input tax credit on goods sent for job works for the period July 2017 to December 2018.
  • 31st March 2019 – Due date for Annual return under PT from April to March 2019.
  • 31st March 2019 – Last date for linking Aadhar with PAN.
  • Quote of the Day:
  • “Professionalism: It’s NOT the job you do it’s HOW you DO the job.”

Disclaimer:

The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances; Before making any decision do consult your professional /tax advisor for their misrepresentation or interpretation of act or rules author does not take any responsibility. Neither the author nor the firm accepts any liability for the loss or damage of any kind arising out of information in this document or for any action taken in reliance there on. The author is a Chartered Accountant and the Chief Gardener & Founder Director of Rajput Jain & Associate, a leading Tax & Investment planning Advisor Service provider. His Blog can be found at http://carajput.com for any query you can write to info@carajput.com. Hope the information will assist you in your professional endeavors. For query or help contact: info@carajput.com  or call at 09811322785/4- 9555555480.

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Corporate and Professional Updates on 5th March 2019

Direct Tax Updates:

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  • CBDT, in a bid to promote Cashless Transactions, issues an advisory on its Official Website regarding Cash Transactions over and above the prescribed limits specified under the law.
  • Central Government amends the Aadhaar Act and two related laws in order to make Aadhaar based-KYC for Procuring Mobile Connection and Bank Account compulsory. The compulsory use of Aadhaar-based KYC for mobile connections and bank accounts was prohibited by the Supreme court’s judgement dated 26th September 2018.
  • In the light of the increase in the number of Professional Misconduct cases against the Insolvency Professionals, the Insolvency and Bankruptcy Board of India (IBBI) issues a Charter prescribing the responsibilities of the Insolvency Professionals and the Committee of Creditors.
  • Income Tax Tribunal (ITAT) Agra in case of  Fateh Chand Trust & College Committee v/s Commissioner of Income Tax vide it’s IT Appeal No. 406  dated 27th September 2018 has held that Sec 12AA cannot be denied on the ground that assessee was engaged in education with a profit motive.
  • CBDT, in a bid to promote Cashless Transactions, issues an advisory on its Official Website regarding Cash Transactions over and above the prescribed limits specified under the law.

Indirect tax Updates:

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  • GST collections in February dropped to Rs 97,247 crore from Rs 1.02 lakh crore in the previous month. However, compliance improved and the number of sales returns or GSTR-3B filed for the month of January up to February 28, 2019 stood at 73.48 lakh.

SEBI Updates:

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  • SEBI tightened the valuation methodology for liquid mutual funds and did away with the open offer exemption given to those seeking to acquire assets undergoing insolvency resolution. To make sure liquid schemes reflect the underlying portfolio risks.
  • SEBI approves a proposal to Lower Fees charged from Brokers, Stock Exchanges and Companies seeking to get listed in order to bring down the cost of trading in stock markets. It also approves changes in norms for Valuation of Money Market and Debt Securities by Mutual Funds.
  • SEBI made several amendments to its regulations during the meeting and approved lowering of fees charged from brokers, stock exchanges and companies seeking to get listed.  And approved granting permanent registration to custodians instead of periodical renewal every three years.

Other Updates:

  • India needs land, labour reform to aid Mfg.
  • India Inc’s Foreign Borrowings down 45% at $2.42 Billion in January.
  • Stressed accounts of Bhushan Power, Essar up for sale.
  • After Mallya saga, SEBI wants Companies Act changed.
  • MSCI India weight in MSCI EM index likely to fall 20 BPS by November-end.
  • Gail chosen for Vedanta’s Barmer gas output buy.
  • ONGC recieves single bid from US firm for Oil field production upgrade.
  • RIL arm to acquire stake in Grab a Grub and C-Square for Rs 228 crore.
  • IDBI Bank gets govt nod to handle import, export transactions with Iran.
  • DIPAM to set up asset-monetisation cell to hasten sale of CPSE assets.
  • RBI slaps Rs 11 Cr fine on 4 Banks for non-compliance in Swift operations.
  • GMR Hyderabad airport divests stake in flight training academy.
  • ‘Trump’s tirade against India’s Import tariffs unfair’.
  • Coffee Exports up 13% in first 2-months of 2019.
  • BHEL to set up Solar-based EV charger network on Delhi-Chandigarh highway.
  • Adani Ports to pump ₹53,000 Cr to expand capacity of Kattupalli port.
  • Jet pledges FDs worth ₹1,500 Crore with State Bank of India to stay in the air.
  • OPEC likely to defer Output Policy decision until June.
  • Superior execution powers ABB India, but lofty valuations set the bar high.
  • Mahindra Lifespace looks to add strategic investment partners.
  • Panel to review if Sun Pharma, Meril Life merit price cap relief.
  • Despite shining Steel, Power and Debt to remain drag for JSPL.
  • Nestle India unlikely to increase royalty payout beyond 4.5%.
  • Grant Thornton identifies Rs 13,000 crore worth irregularities in report on IL&FS.
  • Orchid Pharma set for fresh EOIs for resolution plan, Divis and Gland Celsus Bio show interest.
  • Govt to set ball rolling for 1 GW Solar Power in NE.
  • Helpless Mumbai Port Trust sits on 1,900-acre Prime land.
  • DBS Bank floats local arm, aims to triple business.
  • GST collection drops to Rs 97,247 Crore in February.
  • SEBI board approves lowering of fees, easier norms for startups.

Key Due Dates:

  • Due Date of GSTR-1 for the month of February in case of monthly Tax Return Fillers is 10th March 2019.

Professional Quotes:

“Believe passionately in what you do, and never knowingly compromise your standards and values. Act likes a true professional, aiming for true excellence, and the money will follow.”

Disclaimer:

The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances; Before making any decision do consult your professional /tax advisor for their misrepresentation or interpretation of act or rules author does not take any responsibility. Neither the author nor the firm accepts any liability for the loss or damage of any kind arising out of information in this document or for any action taken in reliance there on. The author is a Chartered Accountant and the Chief Gardener & Founder Director of Rajput Jain & Associate, a leading Tax & Investment planning Advisor Service provider. His Blog can be found at http://carajput.com for any query you can write to info@carajput.com. Hope the information will assist you in your professional endeavors. For query or help contact: info@carajput.com  or call at 09811322785/4- 9555555480.
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Corporate and Professional Updates on 4th March 2019

Direct Tax Updates:

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  • The income tax refunds will be credited only to bank accounts which are linked to PAN from March 1, 2019. If your PAN is not yet linked with your bank account, you must provide the details of the same to your bank branch to get an income tax refund.
  • The finance ministry has asked the direct tax code (DTC) panel to revise the existing income-tax slabs, especially in the 20 per cent bracket. The panel has sought three months to incorporate the suggestions.
  • “The current tax rates are ambiguous in nature, especially the lower slabs. As suggested we will work towards harmonising the tax rates, currently prone to interpretation. We will seek more expert voices and weigh the circumstances to incorporate the changes in line with the suggestions we have received,” said the official cited above. Under the current I-T slabs, income up to Rs 2.5 lakh is exempt from tax, those earning up to Rs 5 lakh pay 5 per cent, and those earning up to Rs 10 lakh have to pay 20 per cent tax. Those with income above Rs 10 lakh have to pay 30 per cent tax.

SEBI Updates:

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  • The Securities and Exchange Board of India plans to tighten takeover norms applicable to companies undergoing proceedings under the Insolvency and Bankruptcy Code. Sources said the capital markets regulator would do away with the provision that allowed a ‘competent authority’ to exempt an acquirer from the requirement of an open offer. Only a court or a tribunal would be allowed to provide such exemptions, they added.

Other Updates:

  • Core Sector Growth slows down to 1.8% in January.
  • Airtel gets Board Approval to raise Rs 32,000 Crore.
  • India to see Lower Productivity, Weak Demand.
  • Govt keen on Amalgamation of PSBs.
  • NCLAT orders resolution on Essar Steel bid by March 8.
  • SEBI wants govt rethink on RBI representation on its Board.
  • NSE to introduce Brent Crude Oil Futures Contract on Mar 1.
  • DBS to convert its India Operations into wholly-owned subsidiary from Mar 1.
  • 2018 best year for M&As as deal values rise 126% to $80 Bn.
  • International Finance Corp to invest $165 Mn in Bajaj Finance, Dodla Dairy.
  • Infosys says KiranMazumdar-Shaw sold 1,600 Shares without pre-clearance.
  • NareshGoyal agrees to step down as Chairman of Jet Airways.
  • Iran buys Indian sugar to ease its oil-money headache.
  • LG India aims for 30% Growth in commercial ACs this year.
  • NIIF, CDC &Eversource Capital to invest $330 mn in Ayana.
  • Lupin launches chronic angina treatment drug in the US.
  • Future Group to bring 7-Eleven Stores to India.
  • Cabinet clears 10,000 Crore FAME II scheme.
  • RBI constitutes task force under UshaThorat on offshore rupee markets.
  • REC Board approves borrowing limit hike, 11 Per Share Interim Dividend.
  • J&J allowed resuming Baby Talc Production.
  • Fraud-hit PNB ranks highest in implementation of ‘Reforms Agenda’ in 2018.
  • SBICap Ventures’ Neev Fund to invest $5 Million in Renewable Energy Firm Prespl.
  • NCLT rejects plea from 8 Operational Creditors.
  • Govt revises down FDI inflows into Chemicals drastically.
  • Sodexo to increase focus on Small and Medium enterprises in India.
  • Rupee recoups 52 Paise to end at 70.72 per Dollar.
  • Kotak ties up with ADIA for USD 600 Mn Distressed Assets Fund.
  • Increasing Exports can lead to Better Jobs, Higher Wages in India.
  • L&T Finance to raise up to Rs 1,500 Cr via NCDs.

Key Due Dates:

  • Due Dates for monthly taxpayers GSTR-1 is 10th March 2019.
  • 15th March 2019- Due date for forth and last installment/ entire amount of advance tax for Assessee having presumptive basis income,
  • 20th March 2019 – GST monthly return for the month of February 2019 (GSTR-3B)
  • 15th March 2019- Due date for PF and ESIC payment.
  • 25th March 2019- Due date for filing monthly return of PF
  • 30th March 2019- Challan cum statement for TDS u/s 194 IA for immovable property and 194 IB for rent payment for February 2019.

Professional Quotes:

Being your own person and standing for what you believe is a critical aspect of a good professional life.

Disclaimer:

The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances; Before making any decision do consult your professional /tax advisor for their misrepresentation or interpretation of act or rules author does not take any responsibility. Neither the author nor the firm accepts any liability for the loss or damage of any kind arising out of information in this document or for any action taken in reliance there on. The author is a Chartered Accountant and the Chief Gardener & Founder Director of Rajput Jain & Associate, a leading Tax & Investment planning Advisor Service provider. His Blog can be found at http://carajput.com for any query you can write to info@carajput.com. Hope the information will assist you in your professional endeavors. For query or help contact: info@carajput.com  or call at 09811322785/4- 9555555480.

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Corporate and Professional Updates on 1st March 2019

Direct Tax Updates:

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  • Income tax department will issue only e-refunds and that too these will be credited only to bank accounts linked with PAN.
  • In addition to that, you are also required to pre-validate your bank account with the income tax department e-filing portal to receive tax refund.
  • The income tax refunds will be credited only to bank accounts which are linked to PAN from March 1, 2019. If your PAN is not yet linked with your bank account, you must provide the details of the same to your bank branch to get an income tax refund.
  • The finance ministry has asked the direct tax code (DTC) panel to revise the existing income-tax slabs, especially in the 20 per cent bracket. The panel has sought three months to incorporate the suggestions.
  • “The current tax rates are ambiguous in nature, especially the lower slabs. As suggested we will work towards harmonising the tax rates, currently prone to interpretation. We will seek more expert voices and weigh the circumstances to incorporate the changes in line with the suggestions we have received,” said the official cited above. Under the current I-T slabs, income up to Rs 2.5 lakh is exempt from tax, those earning up to Rs 5 lakh pay 5 per cent, and those earning up to Rs 10 lakh have to pay 20 per cent tax. Those with income above Rs 10 lakh have to pay 30 per cent tax.
  • Those with income up to Rs 5 lakh will not have to pay tax, as they have been given tax credits in the interim Budget passed by Parliament. If various investment schemes are also factored in, those with income up to Rs 10 lakh might also escape the tax net in the next financial year. Sources said with elections round the corner, the government does not want to bring in the long-pending report.

Indirect tax Updates:

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  • The government has detected GST evasion of Rs.20,000 crore so far this fiscal and will take more steps to check frauds and increase compliance, a senior tax officer said on Wednesday. Central Board of Indirect Taxes and Customs Member John Joseph further said the department would soon call a meeting of the representatives of the real estate sector to understand transition issues faced by the sector post reduction in GST rates. The GST Council earlier this week decided to cut tax rates on under-construction apartments and affordable housing to 5% and 1%.
  • The builders will not be able to claim credit for the taxes paid on inputs, like steel, cement. The earlier GST rate on under-construction apartments and affordable housing was 12% and 8% with input tax credit (ITC), respectively. On demand for giving ITC relief to the builders of the under-construction flats which are already built but not yet sold to buyers.
  • The recent exemption offered from the goods & services tax levied on development rights, including transferable development rights, development rights certificates and joint development agreements. Realtors’ body, the National Real Estate Development Council, has written to the Ministry of Housing and Urban Affairs seeking clarity.
  • The GST Council proposed that intermediate tax on development rights will be exempted only for such residential projects on which GST is payable. The government decided to more than halve the GST rates for under-construction projects to 5% from 12%. The GST Council removed the input tax credit, while GST on affordable housing was reduced to a marginal 1% along with expanding definition of such homes. Ready properties that have received occupancy certificate do not attract GST.

RBI Updates:

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  • The Reserve Bank of India Tuesday said it would shortly put into circulation new-series Rs 100 denomination bank notes bearing the signature of its Governor Shaktikanta Das.
  • The RBI will shortly issue Rs 100 denomination bank notes in Mahatma Gandhi (new) series bearing the signature of Das, the central bank said in a release.
  • The design of these notes is similar in all respects to the Rs 100 bank notes in circulation currently.

SEBI Updates:

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  • The Securities and Exchange Board of India plans to tighten takeover norms applicable to companies undergoing proceedings under the Insolvency and Bankruptcy Code. Sources said the capital markets regulator would do away with the provision that allowed a ‘competent authority’ to exempt an acquirer from the requirement of an open offer. Only a court or a tribunal would be allowed to provide such exemptions, they added.
  • Experts said the move was aimed at reducing ambiguity and curbing the misuse of the regulations. While at present the rules allow a “competent authority” to provide an open offer exemption, the regulations have not defined who act as a “competent authority”, leaving it can open for interpretation. Typically, a competent authority can be a sector regulator or ministry.

Key Due Dates:

  • Challan-cun Statement in respect to tax Deducted under sec. 194IB for the month of Jan is 2nd March 2019.
  • Payment of TDS/TCS collected /deducted in the month of February is 7th February 2019.

Disclaimer:

The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances; Before making any decision do consult your professional /tax advisor for their misrepresentation or interpretation of act or rules author does not take any responsibility. Neither the author nor the firm accepts any liability for the loss or damage of any kind arising out of information in this document or for any action taken in reliance there on. The author is a Chartered Accountant and the Chief Gardener & Founder Director of Rajput Jain & Associate, a leading Tax & Investment planning Advisor Service provider. His Blog can be found at http://carajput.com for any query you can write to info@carajput.com. Hope the information will assist you in your professional endeavors. For query or help contact: info@carajput.com  or call at 09811322785/4- 9555555480.

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Corporate and Professional Updates on 27th February 2019

Direct tax updates:

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  • Candidates contesting all forthcoming elections will not only have to declare their income-tax returns of the last five years, offshore assets and PAN details, but also those of their spouses and family members as announced by the Government.
  • Form 26 is filed along with the nomination papers giving details about the criminal antecedents, if any, PAN, income tax return of self, spouse and dependent. It is also used to provide a list of assets and liabilities of a candidate, spouse and all dependents. As per the new notification, offshore assets will include the details of deposits or investments in foreign banks, any other body or institution abroad. It will also include details of assets and liabilities abroad.

Indirect Tax Updates:

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FAQ’s on GST:

Ques. Would forward contracts in commodities or currencies be within the ambit of definition of ‘supply’?

Ans. A forward contract is an agreement, executed, to purchase or sell a predetermined amount of a commodity or currency at a pre-determined future date at a pre-determined price. The settlement could be by way of actual delivery of underlying commodity/currency or by way of net settlement of differential of the forward rate over the prevailing market rate on the settlement date. Where the settlement takes place by way of actual delivery of underlying commodity/currency, then such forward contracts would be treated as normal supply of goods and liable to GST. Where the settlement takes place by way of net settlement of differential of the forward rate over the prevailing market rate on the settlement date, the same would be falling within the purview of ‘securities’ as defined in Section 2(101) of the CGST Act, 2017. As securities are neither ‘goods’ nor ‘services’ as defined in the CGST Act, 2017, future contracts are not chargeable to GST. However, if some service charges or service fees or documentation fees or broking charges or such like fees or charges are charged, the same would be a consideration for supply of service and chargeable to GST.

Ques. What is the nature of income earned / expended in instruments like repos and reverse repos and is such income taxable under GST?

Ans. Section 45U(c) of the RBI Act, 1934 defines ‘repos’ as an instrument for borrowing funds by selling securities with an agreement to repurchase the securities on a mutually agreed future date at an agreed price which includes interest for the funds borrowed. Section 45U (d) of the RBI Act, 1934 defines ‘reverse repos’ as an instrument for lending funds by buying securities with an agreement to re-sell the securities on a mutually agreed future date at an agreed price which includes interest for the funds lent. Repos and reverse repos are financial instruments of short term call money market that are normally used by banks to borrow from or lend money to RBI. Page 14 of 32 The margins, called the repo rate or reverse repo rate, in such transactions are nothing but interest charged for lending or borrowing of money. Thus they have the characteristics of loans and deposits for interest and are accordingly exempt from GST.

Ques. Whether assignment or sale of secured or unsecured debts is liable to GST?

Ans. Section 2(52) of the CGST Act, 2017 defines ‘goods’ to mean every kind of movable property other than money and securities but includes actionable claim. Schedule III of the CGST Act, 2017 lists activities or transactions which shall be treated neither as a supply of goods nor a supply of services and actionable claims other than lottery, betting and gambling are included in the said Schedule. Thus, only actionable claims in respect of lottery, betting and gambling would be taxable under GST. Further, where sale, transfer or assignment of debts falls within the purview of actionable claims, the same would not be subject to GST Further, any charges collected in the course of transfer or assignment of a debt would be chargeable to GST, being in the nature of consideration for supply of services

Other Updates:

  • April-Jan fiscal deficit at 121.5% of full-year target.
  • SBI calls lenders’ meeting with Naresh Goyal, Etihad.
  • India delays levying retaliatory tariff on U.S. goods.
  • Trai to decide rules for internet calling firms soon.
  • JM files insolvency case against Hotel Leelaventure.
  • True north buys 51% stake in Max Bupa from Max India.
  • After tough times, future is bright for telcos.
  • RBI removes Allahabad Bank, Corp Bank, Dhanlaxmi from PCA framework.
  • ED attaches Nirav Modi’s properties worth Rs 147 crore in PNB fraud case.
  • Adani Group emerges highest bidder for Guwahati airport.
  • NBFC crisis: $22 billion already gone, but more dark days likely ahead.
  • IOC, HPCL win maximum areas under tenth round of city gas bidding.
  • ArcelorMittal sees major capex risk in Essar Steel acquisition.
  • India’s growth momentum slowed down in late 2018.
  • Global, national AAA ratings are not comparable.
  • Govt eases import norms for prototype devices.
  • Mustard crop seen up 19% on higher yield.
  • BHEL’s claims: NCLAT dismisses Monnet Power’s petition.
  • E-wallet companies welcome extension in KYC deadline.
  • Future Group’s too many diversifications were a mistake.
  • Airtel won’t buy 5G spectrum at current prices, says Sunil Mittal.
  • Copper slips from 8-month high, dwindling stockpiles limit losses.
  • Vedanta sells down Sterlite copper concentrate stockpiles.
  • Rating action DHFL’s debt downgraded by Icra.
  • Finance ministry asks PSBs to submit asset sale details to ARCs.
  • Northeast gas grid project likely to get Rs 5k crore from Centre.
  • Jaypee Infra creditors vote against another forensic audit demand.
  • Prabhu for extending interest subsidy to more products from chemical sector.
  • India, Italy discuss ways to promote trade, investments.
  • Kotak Mahindra Bank raises foreign investment limit.
  • Sensex ends 240 points lower on rising India-Pak tension.
  • Iran buys Indian raw sugar for the first time in five-years

Key Due Dates:

  • Due date of TDS Return for the month of January 2019 is 28th February 2019.

Disclaimer:

The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances; Before making any decision do consult your professional /tax advisor for their misrepresentation or interpretation of act or rules author does not take any responsibility. Neither the author nor the firm accepts any liability for the loss or damage of any kind arising out of information in this document or for any action taken in reliance there on. The author is a Chartered Accountant and the Chief Gardener & Founder Director of Rajput Jain & Associate, a leading Tax & Investment planning Advisor Service provider. His Blog can be found at http://carajput.com for any query you can write to info@carajput.com. Hope the information will assist you in your professional endeavors. For query or help contact: info@carajput.com  or call at 09811322785/4- 9555555480.

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Authority for Advance Rulings

Image result for Authority for Advance Rulings (AAR) HD PICS

What is Authority for Advance Rulings (AAR)?

  • The scheme of Advance Rulings has been introduced under the Income-tax Act, 1961. It was reinforced by the Finance Act, 1993. Chapter XIX-B of the Income-tax Act, which deals with advance rulings, came into force with effect from 1-6-1993. Under the scheme the power of giving advance rulings has been entrusted to an independent adjudicatory body. Accordingly, a high level body headed by a retired judge of the Supreme Court has been set-up. This is empowered to issue rulings, which are binding both on the Income-tax Department and the applicant. The procedure prescribed is simple, inexpensive, expeditious and authoritative.
  • Advance Ruling means written opinion or authoritative decision by an Authority empowered to render it with regard to the tax consequences of a transaction or proposed transaction or an assessment in regard thereto.
  • The Authority for Advance Rulings has emerged as an important adjudicatory body on tax matters. Recent rulings by the AAR in Castleton Investment Limited and the MAT controversy have brought the importance of the institution in tax disputes and related matters.
  • The Responsibility of the AAR is to provide the facility of ascertaining the income-tax liability of a non-resident as well as that of certain special categories of residents. If an entity or company has any doubt about the tax liability of its business, it can go to the AAR. The AAR here gives a ruling and it will become policy guide to the company as well as to the tax authorities. Hence, the companies can plan their income-tax affairs well in advance and to avoid long drawn and expensive litigation.
  • In the case of Income Tax Appellate Tribunal, a company goes to it if it has a grievance related to the tax notice it has got from the tax authorities. But in the case of AAR, such a notice is not needed to seek its ruling.

Constitution of AAR

  • Authority for Advance Rulings consists of a Chairman who is a retired Judge of the Supreme Court and two members of the rank of Additional Secretary to the Government of India, one each from the Indian Revenue Service and the Indian Legal Service. A non-resident or certain categories of resident can obtain binding rulings from the Authority on question of law or fact arising out of any transaction/proposed transactions which are relevant for the determination of his tax liability.
  • The Authority for Advance Rulings (AAR) pronounces rulings on the applications of the non-resident/residents submitted in the prescribed form following prescribed procedure and such rulings are binding both on the applicant and the income-tax department.
  • Thus, the applicant can avoid expensive and time consuming litigation on any question of law or fact which might arise from normal income-tax assessment proceedings. AAR (Procedure) Rules, 1996 provide detailed procedure for obtaining advance rulings.

Disclaimer:

The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances; Before making any decision do consult your professional /tax advisor for their misrepresentation or interpretation of act or rules author does not take any responsibility. Neither the author nor the firm accepts any liability for the loss or damage of any kind arising out of information in this document or for any action taken in reliance there on. The author is a Chartered Accountant and the Chief Gardener & Founder Director of Rajput Jain & Associate, a leading Tax & Investment planning Advisor Service provider. His Blog can be found at http://carajput.com for any query you can write to info@carajput.com. Hope the information will assist you in your professional endeavors. For query or help contact: info@carajput.com  or call at 09811322785/4- 9555555480.

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FORM NO. INC.22A

Introduction:

Active Company Tagging Identities and Verification is a new concept which is introduced by the Ministry of Corporate Affairs on 21-02-2019 by notifying Companies (Incorporation) Amendment Rules, 2019. It also introduces new E-FORM ACTIVE (INC-22A).

It is an attempt of Ministry of Corporate Affairs in order to identify the Active Companies and to verify their Registered Office.

Rule 25A:

New rule has been inserted in Companies Incorporation Rules, 2014 under Verification of Registered Office.

Rule 25A states that-Every company Incorporated on or before the 31st December, 2017 shall file the particulars of the company and its registered office in e-form ACTIVE (Active Company Tagging Identities and Verification) on or before 25.04.2019. 

Every Company* Incorporated on or before 31st December 2017 are required to file this e-form.

So, we can say that all this companies are required to file e-Form Active i.e. INC-22A

  1. Public Company (whether listed or not)
  2. Private Company

iii. Government Company

  1. One Person Company

Following Companies are not required to file this form:-

  1. Companies which have been struck off
  2. Companies which are under process of Striking off.

iii. Companies which are under Liquidation.

  1. Companies which has been dissolved or amalgamated.

As per the register maintained by Ministry of Corporate Affairs.

Following Companies will not be allowed by Ministry of Corporate Affairs to file this e-form Active are:-

  1. Company which has not filed its due financial statements under Section 137 i.e. Not Filled AOC-4
  2. Company which has not filled its Annual Returns under section 92 i.e. Not Filled MGT-7

iii. A company who’s any of the director/s has not filled DIR 3 KYC form or is disqualified under section 164 of the Companies Act, 2013.

Consequences of non filling of this e-form Active

Company will be marked with “Active- Non compliant” at the portal of MINISTRY OF CORPORATE AFFAIRS and due to this the company will not be allowed to carry on some transactions such as:-

  1. Change in Authorised Capital
  2. Change in Paid up Capital

iii. Changes in Director Accept Cessation,

  1. Change in Registered Office.
  2. Amalgamation, De-merger

Consequences of Filing e-form Active after the due date .i.e. 25-04-2019

Penalty will be charged from those companies who will file this form after the due date and the amount of penalty is Rs. 10,000/- as inserted by Companies (Registration offices and Fees) Amendment Rules, 2019.

In INC22A, the company is required to submit the following information:-

  1. Name of the Company and CIN
  2. Registered Address of the Company
  3. Two Photograph of the registered office of the company. The first photo of the registered office shall be taken from outside of the premises, whereas the second photo needs to be taken from within the registered office premises showing at least one director / KMP who shall be signing the e-form INC-22A.
  4. Location of registered office on Map defining Latitude / Longitude
  5. Email ID of the company
  6. Email for OTP verification
  7. Whether the company is listed (Yes or No)
  8. Details of:
  • List of all Directors of the company with Active status of DIN. if any Director on Board of the Company who does not have the Active DIN Status, company will not be able to file Form 22A.
  • Name of all the Directors of the Company, if it is more than 15 then Details of Special resolution passed for such appointment will be required. However, in case of Government Company details of such resolution will not be required as there is no limit of directors in Government Company. Kindly Check that all the Directors have filled the DIR-3 KYC Form or They are not disqualified under section 164 of the Companies Act, 2013.
  1. Details of Statutory Auditor.
  • Name of the Auditor/Firm.
  • PAN No. of the Auditor/ Firm.
  • Membership No. or Firm’s Regn. No.
  • Period for which the Auditor has been appointed.
  1. Details of Cost Auditor
  • Name and No. of Cost Auditor Appointed
  • Membership no.
  • Period for which Appointed.
  • Financial Year to be covered by the cost auditor.
  1. Details of Company Secretary.
  • Name of the Company Secretary of the Company.
  • PAN No.
  • Membership No.
  • CEO or Managing Director (if applicable)
  • CFO (if applicable)
  • SRN Number of AOC 4 / MGT 7 For FY 17-18 SRN of AOC-4/AOC-4 XBRL SRN of MGT-7

Disclaimer:

The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances; Before making any decision do consult your professional /tax advisor for their misrepresentation or interpretation of act or rules author does not take any responsibility. Neither the author nor the firm accepts any liability for the loss or damage of any kind arising out of information in this document or for any action taken in reliance there on. The author is a Chartered Accountant and the Chief Gardener & Founder Director of Rajput Jain & Associate, a leading Tax & Investment planning Advisor Service provider. His Blog can be found at http://carajput.com for any query you can write to info@carajput.com. Hope the information will assist you in your professional endeavors. For query or help contact: info@carajput.com  or call at 09811322785/4- 9555555480.

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Virtual CFO

Virtual CFO and related function:

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  • Most of the Businesses fail during its initials and to deal with that failure CFO needs support from outsider to make the business profitable and reputed.
  • Virtual CFO plays a crucial role in the success of businesses. It helps to achieve the financial goals as it expected. Virtual CFO has practical knowledge cloud based accounting software, modern data analytics and mobile technology to support the businesses.

What is a virtual CFO?

  • Virtual CFO is completely new concept that helps small business for a period of time by the financial.
  • Here is the definition that consist of the detail examination of the virtual CFO
  • Virtual CFO plays the role of CFO for the part-time.
  • Who acts as the CFO and provides financial stability
  • As well as maintain the wellbeing of the business.
  • In the last few years, the awareness of Virtual CFO services has been increased drastically. It is the time in which CFO’s understand the importance of the Virtual CFO.

What Virtual CFO does?

The services of the Virtual CFO:

  • Virtual CFO works at the top level by performing the same activities of CFO.
  • Virtual CFO take care of all the financial functions of the organization.
  • It also takes the control of finance and accounting function.

Responsibilities of Virtual CFO:

  • Managing Finance: It is the responsibility of virtual CFO to maintain the stability of finance because
  • The stakeholders are used to depend upon it. He is also responsible to prevent fraud in the business.
  • Maintaining the stability of the budget: Virtual CFO has to focus on maintaining the expense and performance as defined in the budget plan. It is the responsibility of the CFO to take the right approach to maintain the budget.
  • Risk management and mitigation: CFO is also responsible to analyze the risk that comes with taking.
  • The decision and in the company’s profile. He also has to take care of the insurance and relates systems.
  • Maintain professional relationships: He has to maintain business relations with employees to solute the problems. He also works as Mediator between the board of the directors and stakeholders.
  • Financial engineering: It is the responsibility to use the funds of the company in an appropriate way and in the right place.

Why the role of Virtual CFO is becoming crucial?

  • Due to increased competition
  • Virtual technology is supporting businesses.
  • The agreement work is commoditizing.
  • There is an increment in the fees.
  • It needs knowledge and capabilities to play the role of virtual CFO and the demand will increase in the Near future because many financial firms want to work smarter not harder.

Disclaimer:

The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances; Before making any decision do consult your professional /tax advisor for their misrepresentation or interpretation of act or rules author does not take any responsibility. Neither the author nor the firm accepts any liability for the loss or damage of any kind arising out of information in this document or for any action taken in reliance there on. The author is a Chartered Accountant and the Chief Gardener & Founder Director of Rajput Jain & Associate, a leading Tax & Investment planning Advisor Service provider. His Blog can be found at http://carajput.com for any query you can write to info@carajput.com. Hope the information will assist you in your professional endeavors. For query or help contact: info@carajput.com  or call at 09811322785/4- 9555555480. 

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Corporate and Professional updates on 26th February 2019

Indirect Tax Updates:

FAQ’s On GST:

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Ques. Are services supplied without consideration to a recipient other than ‘related party’ / ‘distinct person’ taxable?

Ans.   Section 7 of the CGST Act, 2017 read with Schedule I thereto provides that services supplied without consideration to related persons or distinct persons only would qualify as ‘supply’. Also import of services by bank from a related person or from any of its establishments outside India in the course or furtherance of business will be supply even if imported without consideration. Therefore, where the services are supplied by a supplier without consideration to an unrelated recipient or a person other than a related or distinct person, the same would not amount to supply and not liable to GST.

Ques. Can value of services be enhanced by invoking the CGST Rules in case of services provided by banks at a concessional / differential rate to a recipient other than ‘related party’ / ‘distinct person’?

Ans. Banks provide various services to customers for a charge. However, at times, account holders / customers are provided services free or at a concessional / differential rate. The free or concessional / differential rate is offered considering factors such as credit rating and stability of the customer, size of relationship, expected future business or the opportunity presented in the market elsewhere etc. As a result, the charges for the same service may differ from customer to customer. Such services provided to persons who are not related persons will be taxable on the transaction value, that is, the value of the services charged or recovered from the customers or account holders as per section 15 of the CGST Act, 2017. Thus, in case of services provided at a concessional / differential rate to a recipient other than ‘related party’ / ‘distinct person’, there is no requirement for enhancing the value of services by invoking the CGST Rules, 2017.

Ques. In the case of Banks which are not availing the reversal of ITC at 50%, how should inter-branch services be valued where open market value of services of like kind and quality is not available?

Ans. In such cases, banks can adopt any reasonable basis consistent with Rule 30 and 31 of the CGST Rules, 2017.

Indian GDP:

Image result for hd pics on indian GDP

  • In Third Quarter the GDP growth rate is likely to further decelerate the current financial year, as compared to the first two quarters. Economists with independent agencies have pegged it at 6.7-6.9% against 8.2% for the first quarter and 7.1% for the sec­ond. Only EY India pegged it at 7.3-7.4%. The growth rate, along with the second advance estimates for FY19, is set to be released by the Central Statistics Office on Thursday.
  • Most economists also projected the entire FY19 GDP growth rate at 7.2%, the same as the first advance estimates. This was despite the fact that 2017-18 GDP growth rate was revised from 6.7% to 7.2%, which could have a dampening impact on the growth numbers for the current financial year. For instance, SBI group Chief Economist Soumya Kanti Ghosh said the new number for 2017-18 would have pulled down GDP growth rate to 5.9% for FY19. However, he said the GDP deflator (a technical name for the inflation rate in the GDP series), which stood at 4.1% in the first advance estimates, could be revised downwards by 50 basis points, pushing the growth rate close to 7.2% for FY19.

Other Updates:

  • Britannia to replace HPCL on Nifty50 in stock reshuffle.
  • SBI Research pegs Q3 GDP at 6.6-6.7%.
  • India lacks good economic, jobs data.
  • Adani wins bids to operate 5 AAI airports for 50 years.
  • MFI loan book growth hits 43% at Rs 1.66 trn in Q3.
  • Regulations against every telco except Jio.
  • 2 cr jobs created in 16 months to Dec 2018.
  • A/cs of IL&FS and its subsidiaries will not be declared NPA for now: NCLAT.
  • GMR wins bid for Andhra’s Greenfield Bhogapuram Int’l Airport Project.
  • EID Parry in talks with Indian Oil to start Compressed Biogas production.
  • Etihad conditions may delay debt-laden Jet Airways resolution plan.
  • Steel cos set to hike price for third time this month.
  • New EPF subscribers’ monthly count hits a 16-month low in Dec.
  • Rabi sowing closes with record rice acreage of 49 lakh hectares.
  • Lupin gets USFDA nod for anti-inflammatory drug.
  • Thomas Cook India buys 51% stake in Digiphoto.
  • Shilpa Medicare gets USFDA nod for cancer drug.
  • Bharti Airtel board to meet on 28 February to consider fundraising plans.
  • RBI extends KYC compliance norms by six months.
  • India’s foreign direct investment inflows fall amid pre-election uncertainty.
  • EPFO begins survey to assess quantum of fund parked in IL&FS bonds.
  • Copper near 8-month high on deferred US tariff hikes.
  • Funding, regulatory process haunts life sciences and healthcare startups.
  • Proceed against Malvinder, Shivinder for Rs 472 crore fraud.
  • Exporters group calls for providing export sops to more products.
  • Real estate defaults could trigger next crisis for struggling Indian NBFCs.
  • Sugar production may exceed demand of 26 MT in SS 18-19.
  • Rupee strengthens by 17 paise against US dollar on easing trade war concerns.
  • Insurers too got stuck in securitised debt deals.
  • Goods and services exports to cross USD 500 bn this fiscal.

Key Due Dates:

  • Due date of TDS Return for the month of January 2019 is 28th February 2019.

Disclaimer:

The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances; Before making any decision do consult your professional /tax advisor for their misrepresentation or interpretation of act or rules author does not take any responsibility. Neither the author nor the firm accepts any liability for the loss or damage of any kind arising out of information in this document or for any action taken in reliance there on. The author is a Chartered Accountant and the Chief Gardener & Founder Director of Rajput Jain & Associate, a leading Tax & Investment planning Advisor Service provider. His Blog can be found at http://carajput.com for any query you can write to info@carajput.com. Hope the information will assist you in your professional endeavors. For query or help contact: info@carajput.com  or call at 09811322785/4- 9555555480.

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Corporate and Professional Updates on 25th February 2019

Indirect tax Updates:

GST updates:

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  • A new window has been enabled for claiming TDS/TCS credits. The taxpayer has the option of accepting or rejecting the TDS/TCS credits available and filing their return, after which the credits get transferred to the cash ledger and can be used for making GST payments.
  • A taxpayer can file an appeal against an order passed by an appellate authority or against an advanced ruling by an appellate authority on the GST portal. He even has the option to file an application with the appellate authority in the case of rectification of a mistake in order passed.
  • For affordable housing GST rate reduced from 8% to 1% & for other housing from 12% to 5%.
  • Definition of affordable housing: 90 sq. Meter for non-metro & 60 sq. meter. For metro area.  Cap on Cost of house to be qualified as affordable kept at Rs 45 Lakh for both non-metro and metro areas.
  • A GST registration number can be obtained without the same. New businesses who are in the process of obtaining bank accounts can simultaneously proceed with GST registration, thus saving time.
  • Claiming of ITC and amendment of B2B invoices of 17-18 are re-opened up till March 2019.
  • Users can now amend B2B invoices of FY 2017-18. The facility to amend the GSTR-1 details of FY 17-18 was closed on filing the September 2018 return. The same has been made available while filing returns for the months of January to March 2019. Input tax credit of FY 2017-18 that was omitted and hence unclaimed up till September 2018 can be claimed now up to March 2019 as well. This was a much-needed remedy for taxpayers who made errors reporting any invoice in the past, or previously missed out claiming genuine credit.
  • For composition taxpayers, there is a simpler way to reply to show cause notices(SCN) now. This is in the case of a show cause notice being issued for compulsory withdrawal from the composition scheme, and if proceedings are initiated against the composition taxpayer, he now has the option to reply to show cause notices on the portal.

E-way Bill Updates:

Image result for e-way bill hd pics

  • E-way bill data can be imported for GSTR-1.
  • The E-way bill (EWB) and the GST portal has now been integrated. The same gets automatically imported for the B2B and B2C (large) invoices sections as well as the HSN-wise-summary of outward supplies section. Users only need to verify the data and proceed.

Other Updates:

  • Saudi Arabia to make India regional hub for oil supply
  • Assured return scheme for NPS subscribers proposed
  • REC needs nod from at least 50% lenders for PFC deal
  • India to be 2nd-largest 5G market in 10 yrs.
  • 3-4 more banks to come out of RBI’s PCA framework
  • Warren Buffett’s firm reports $25 bn. Q4 loss
  • May postpones vote on Brexit deal until March 12
  • SBI considers moving NCLT for insolvency proceedings against Jet Airways
  • Blackstone, Embassy to launch India’s first real estate investment trust
  • Tata Steel, JSW Steel are key beneficiaries of the rise in steel demand
  • Raymond revamps supply chain, weighs on digital tools for more efficiency
  • Bharti Airtel set to conduct trial of Nokia’s 5G-ready telecom gear
  • JNPT SEZ to bid out 300 acres to manufacturing companies
  • India’s financial condition looking up, says CII-IBA
  • Boards of companies should assert ethical conduct: CII
  • 347 infra projects show cost overruns worth over Rs 3.2 lakh cr.
  • Hindustan National Glass to raise 1,800 cr. to pare debt
  • Uber in talks to sell India food delivery business
  • KKR, Black Rock set to invest in Adnoc pipeline unit
  • Afghanistan launches new export route to India through Iran
  • Wipro shareholders approve bonus issue, increase in authorised share capital
  • Seven of top 10 Indian companies lose₹67,980 crore in m-cap, TCS worst hit
  • RIL preparing to list Reliance Retail soon
  • US-China talks Superpowers haggling over currency pact
  • Lack of big-ticket deals drive down PE/VC investments in January 2019
  • Swiggy in talks to buy Uber Eats India, deal expected to be sealed soon
  • Singapore largest FDI source, leaves Mauritius far behind
  • PNGRB rejects HPCL review petition on ATF pipeline
  • FPIs sell blue-chips take away Rs 30K cr.
  • Foreign portfolio investors pull out over Rs 1,900 cr. from debt market in Feb
  • Unregulated Deposit Ordinance bans only Ponzi schemes not regulated deposits.

Key Due Dates:

  • Due date of TDS Return for the month of January 2019 is 28th February 2019.

Disclaimer:

The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances; Before making any decision do consult your professional /tax advisor for their misrepresentation or interpretation of act or rules author does not take any responsibility. Neither the author nor the firm accepts any liability for the loss or damage of any kind arising out of information in this document or for any action taken in reliance there on. The author is a Chartered Accountant and the Chief Gardener & Founder Director of Rajput Jain & Associate, a leading Tax & Investment planning Advisor Service provider. His Blog can be found at http://carajput.com for any query you can write to info@carajput.com. Hope the information will assist you in your professional endeavors. For query or help contact: info@carajput.com  or call at 09811322785/4- 9555555480.

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