{"id":3804,"date":"2018-03-06T10:47:00","date_gmt":"2018-03-06T05:17:00","guid":{"rendered":"http:\/\/carajput.com\/blog\/?p=3804"},"modified":"2021-12-25T16:16:44","modified_gmt":"2021-12-25T10:46:44","slug":"corporate-and-professional-updates-6th-march-2018","status":"publish","type":"post","link":"https:\/\/carajput.com\/blog\/corporate-and-professional-updates-6th-march-2018\/","title":{"rendered":"Corporate and Professional updates 6th March 2018"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_58 counter-hierarchy ez-toc-counter ez-toc-light-blue ez-toc-container-direction\">\n<p class=\"ez-toc-title\">Page Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-69eaa4f052e7a\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #000000;color:#000000\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #000000;color:#000000\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-69eaa4f052e7a\"  aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/carajput.com\/blog\/corporate-and-professional-updates-6th-march-2018\/#Corporate_and_Professional_updates_6th_March_2018\" title=\"Corporate and Professional updates 6th March 2018\">Corporate and Professional updates 6th March 2018<\/a><ul class='ez-toc-list-level-3'><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/carajput.com\/blog\/corporate-and-professional-updates-6th-march-2018\/#Direct_Tax\" title=\"Direct Tax:\">Direct Tax:<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/carajput.com\/blog\/corporate-and-professional-updates-6th-march-2018\/#Indirect_tax\" title=\"Indirect tax\">Indirect tax<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/carajput.com\/blog\/corporate-and-professional-updates-6th-march-2018\/#Mca_updates\" title=\"Mca updates\">Mca updates<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/carajput.com\/blog\/corporate-and-professional-updates-6th-march-2018\/#Other_updates\" title=\"Other updates\">Other updates<\/a><ul class='ez-toc-list-level-4'><li class='ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/carajput.com\/blog\/corporate-and-professional-updates-6th-march-2018\/#FAQ_on_Condonation_of_Delay_Scheme_CODS\" title=\"FAQ on Condonation of Delay Scheme (CODS):\">FAQ on Condonation of Delay Scheme (CODS):<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-7\" href=\"https:\/\/carajput.com\/blog\/corporate-and-professional-updates-6th-march-2018\/#Key_Dates\" title=\"Key Dates:\">Key Dates:<\/a><\/li><\/ul><\/li><\/ul><\/li><\/ul><\/nav><\/div>\n<p><a href=\"https:\/\/carajput.com\/blog\/wp-content\/uploads\/2016\/06\/8-Tips-Biz-Name.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"size-full wp-image-2477\" src=\"https:\/\/carajput.com\/blog\/wp-content\/uploads\/2016\/06\/8-Tips-Biz-Name.jpg\" alt=\"www.carajput.com; Corporate Updates\" width=\"800\" height=\"553\" srcset=\"https:\/\/carajput.com\/blog\/wp-content\/uploads\/2016\/06\/8-Tips-Biz-Name.jpg 800w, https:\/\/carajput.com\/blog\/wp-content\/uploads\/2016\/06\/8-Tips-Biz-Name-300x207.jpg 300w, https:\/\/carajput.com\/blog\/wp-content\/uploads\/2016\/06\/8-Tips-Biz-Name-768x531.jpg 768w\" sizes=\"(max-width: 800px) 100vw, 800px\" \/><\/a><\/p>\n<h2><span class=\"ez-toc-section\" id=\"Corporate_and_Professional_updates_6th_March_2018\"><\/span>Corporate and Professional updates 6th March 2018<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<h3 style=\"text-align: justify;\"><span class=\"ez-toc-section\" id=\"Direct_Tax\"><\/span><a href=\"https:\/\/www.caindelhiindia.com\/blog\/popular-faq-on-direct-indirect-tax-corporate-regulatory-matters\/\"><strong><em><span style=\"text-decoration: underline;\">Direct Tax:<\/span><\/em><\/strong><\/a><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<ul style=\"text-align: justify;\">\n<li>ITAT upholds Revenue&#8217;s plea that assessee (a private limited company &amp; engaged in real estate business)\u00a0received high share premium as a conduit to route the funds involved as a &#8216;layering&#8217; process, holds that share-premium of Rs.49.5cr is taxable u\/s 68 as unexplained cash credit for AY 2008-09[TS-97-ITAT-2018(Bang)]<\/li>\n<\/ul>\n<ul style=\"text-align: justify;\">\n<li>Delhi HC reverses ITAT\u2019s order, holds that advance received by the assessee from Ginza (in which it had more than 10% shareholding) during AY 1995-96 cannot be termed as \u2018advance in the course of business and thus, taxable as deemed dividend u\/s 2(22)(e)[TS-90-HC-2018(DEL)]<\/li>\n<\/ul>\n<ul style=\"text-align: justify;\">\n<li>Mumbai ITAT allows assessee&#8217;s claim of set-off of loss from commodity derivatives against derivative profit during AY 2012-13, holds that assessee was engaged in speculative business and therefore inter-se set-off is allowed[TS-89-ITAT-2018(Mum)]<\/li>\n<\/ul>\n<h3 style=\"text-align: justify;\"><span class=\"ez-toc-section\" id=\"Indirect_tax\"><\/span><strong><em><span style=\"text-decoration: underline;\">Indirect tax<\/span><\/em><\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<ul style=\"text-align: justify;\">\n<li>CESTAT has ruled that activity of arranging press conferences, press releases, interviews etc for clients would not amount to event management service and the same not cover service tax under the said category. Case: M\/s Perfect Relations Ltd.<\/li>\n<li>CBEC has launched Single Window Interface for Facilitating Trade (SWIFT) which will enable the Importers electronically lodges their customs clearance documents at a single point.<\/li>\n<\/ul>\n<h3 style=\"text-align: justify;\"><span class=\"ez-toc-section\" id=\"Mca_updates\"><\/span><strong><em><span style=\"text-decoration: underline;\">Mca updates<\/span><\/em><\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<ul style=\"text-align: justify;\">\n<li>MCA introduces Form AOC-3A for companies who need to comply with Accounting Standards as per Ind AS.<\/li>\n<li>MCA \u00a0is in the process to implement in the dematerialization of Shares of unlisted Co. compulsory Demat policy would create an audit trail in securities transactions and enhance the credibility of institutional investment in unlisted companies.<\/li>\n<\/ul>\n<h3 style=\"text-align: justify;\"><span class=\"ez-toc-section\" id=\"Other_updates\"><\/span><strong><em><span style=\"text-decoration: underline;\">Other updates<\/span><\/em><\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<ul style=\"text-align: justify;\">\n<li>The Union Budget has extended the benefit of tax-free withdrawal from the National Pension System (NPS) to non-employee subscribers of the scheme.<\/li>\n<li>ICAI LAST DATE FOR PAYMENT OF ANNUAL MEMBERSHIP AND COP FEES FOR THE YEAR 2017-18 IS15.03.2018<\/li>\n<\/ul>\n<h4 style=\"text-align: justify;\"><span class=\"ez-toc-section\" id=\"FAQ_on_Condonation_of_Delay_Scheme_CODS\"><\/span><strong><span style=\"text-decoration: underline;\">FAQ on Condonation of Delay Scheme (CODS):<\/span><\/strong><span class=\"ez-toc-section-end\"><\/span><\/h4>\n<ul style=\"text-align: justify;\">\n<li><span style=\"text-decoration: underline;\">Query:\u00a0<\/span>If any defaulting company or disqualified director has not filed an application before any court\/tribunal for the overdue documents and disqualification, then what is required to be attached in the e-Form CODS 2018?<\/li>\n<\/ul>\n<ul style=\"text-align: justify;\">\n<li><span style=\"text-decoration: underline;\">Answer:<\/span>In such cases, the option &#8220;Not Applicable&#8221; shall be selected in e-Form CODS 2018 and nothing shall be required to be attached thereafter.<\/li>\n<\/ul>\n<h4 style=\"text-align: justify;\"><span class=\"ez-toc-section\" id=\"Key_Dates\"><\/span><strong><em><span style=\"text-decoration: underline;\">Key Dates<\/span><\/em><\/strong><span style=\"text-decoration: underline;\">:<\/span><span class=\"ez-toc-section-end\"><\/span><\/h4>\n<ul style=\"text-align: justify;\">\n<li>Submission of forms received in March to IT commissioner:\u00a007\/03\/2018<\/li>\n<li>Payment of <a href=\"https:\/\/carajput.com\/tds.php\">TDS\/TCS<\/a> deducted\/collected in March:\u00a007\/03\/2018<\/li>\n<li>Taxpayers with annual aggregate turnover more than Rs. 1.5 crore need to file <a href=\"https:\/\/carajput.com\/gst\/gst-return.php\">GSTR-1<\/a> for Jan on monthly basis:\u00a010\/03\/2018<\/li>\n<\/ul>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Corporate and Professional updates 6th March 2018 Direct Tax: ITAT upholds Revenue&#8217;s plea that assessee (a private limited company &amp; engaged in real estate business)\u00a0received high share premium as a conduit to route the funds involved as a &#8216;layering&#8217; process, holds that share-premium of Rs.49.5cr is taxable u\/s 68 as unexplained cash credit for AY &hellip;<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[9933],"tags":[1610,1063,9156,1609,1611,1036,1612],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/carajput.com\/blog\/wp-json\/wp\/v2\/posts\/3804"}],"collection":[{"href":"https:\/\/carajput.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/carajput.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/carajput.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/carajput.com\/blog\/wp-json\/wp\/v2\/comments?post=3804"}],"version-history":[{"count":5,"href":"https:\/\/carajput.com\/blog\/wp-json\/wp\/v2\/posts\/3804\/revisions"}],"predecessor-version":[{"id":20476,"href":"https:\/\/carajput.com\/blog\/wp-json\/wp\/v2\/posts\/3804\/revisions\/20476"}],"wp:attachment":[{"href":"https:\/\/carajput.com\/blog\/wp-json\/wp\/v2\/media?parent=3804"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/carajput.com\/blog\/wp-json\/wp\/v2\/categories?post=3804"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/carajput.com\/blog\/wp-json\/wp\/v2\/tags?post=3804"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}