Clipped from: https://www.financialexpress.com/business/sme-msme-delayed-payments-only-20-complaints-disposed-so-far-shows-govt-data-3662777/ MSME delayed payments: Only 20% complaints disposed so far, shows govt data. (Image: Pexels) Out of over 2.12 lakh complaint applications involving Rs
MSME insolvency: Pre-pack scheme sees only 13 applications admitted since 2021 – SME News | The Financial Express
Clipped from: https://www.financialexpress.com/business/sme-msme-insolvency-pre-pack-scheme-sees-only-13-applications-admitted-since-2021-3662971/ Out of the admitted cases, one has been withdrawn, resolution plans for five others have been approved and seven cases are ongoing. The
Take recovery from ‘avoidance transactions’ seriously, IBBI tells creditors. – The Hindu BusinessLine
https://www.thehindubusinessline.com/economy/take-recovery-from-avoidance-transactions-seriously-ibbi-tells-creditors/article68860387.ece Recovery for creditors could go up at least 10 per cent on such approach, says IBBI Chief Mital; Till Sep 2024, total clawback on
Public sector banks’ net profit surged 26% in April-Sept period – The Hindu BusinessLine
https://www.thehindubusinessline.com/money-and-banking/public-sector-banks-net-profit-surged-26-in-april-sept-period/article68859808.ece Public sector banks in India see 26% growth in net profit, reflecting financial health and technological advancements Net profit of public sector banks (PSBs)
RBI allows FPIs to reclassify investments above the prescribed limit in a company as FDI – The Hindu BusinessLine
https://www.thehindubusinessline.com/companies/rbi-allows-fpis-to-reclassify-investments-above-the-prescribed-limit-in-a-company-as-fdi/article68856458.ece Clipped from: https://www.thehindubusinessline.com/companies/rbi-allows-fpis-to-reclassify-investments-above-the-prescribed-limit-in-a-company-as-fdi/article68856458.ece Move aimed at enhancing the ease of doing business, streamlining compliance and attracting foreign investments The Reserve Bank of India (RBI) has allowed foreign portfolio
👌Shocker to economy: Costlier veggies drive Oct inflation to 14-month high – The Hindu BusinessLine
The persisting rise in vegetable prices dealt a body blow to headline retail inflation with the Consumer Price Index (CPI) surging to a 14-month high
NFRA Board approves revamp proposals on 40 auditing standards – The Hindu BusinessLine
Clipped from: https://www.thehindubusinessline.com/economy/nfra-board-approves-revamp-proposals-on-40-auditing-standards/article68860803.ece Also approves revised SA600 despite ICAI concerns; NFRA also okays revised auditing standard on ‘Joint Audits’ Out of the 40 standards, 38 standards
👌India to reduce laptop imports 5% annually from 2025, boost local output | News – Business Standard
Clipped from: https://www.business-standard.com/industry/news/india-to-reduce-laptop-imports-5-annually-from-2025-boost-local-output-124111201071_1.html India mulls 5% annual cut in import limits on laptops, tablets, and PCs from 2025 to boost domestic manufacturing under the Production-Linked Incentive
👌Bitcoin at $89,000: What does the law say about cryptocurrencies in India? | Finance News – Business Standard
What are India’s crypto trading regulations? India’s cryptocurrency regulations are complex and evolving. While cryptocurrencies are legal to trade and hold, they are not recognised as
👌NFRA recommends revising audit standards in line with global norms | Finance News – Business Standard
The National Financial Reporting Authority (NFRA) on Tuesday recommended the revision of Standards on Auditing (SA) 600 to hold the group auditor ultimately responsible for
👌👌👌👌👌Understanding Wills in India: Key Legal Aspects & FAQs
Clipped from: https://taxguru.in/finance/wills-india-key-legal-aspects-faqs.html Summary: Creating a valid Will in India requires specific guidelines, though no particular language is mandated. A valid Will should express the testator’s intent
👌Reversal of provision of inventory written off due to obsolescence allowed: ITAT Bangalore
Clipped from: https://taxguru.in/income-tax/reversal-provision-inventory-written-due-obsolescence-allowed-itat-bangalore.html Essilor India Pvt. Ltd. Vs DCIT (OSD) (ITAT Bangalore) ITAT Bangalore held that deduction towards reversal of provision for inventory written off due
👌👌👌👌👌Bombay HC Quashes Section 148 Proceeding, Orders De Novo Assessment
Clipped from: https://taxguru.in/income-tax/bombay-hc-quashes-section-148-proceeding-orders-de-novo-assessment.html Anil Kumar Mehta Vs ITO (Bombay High Court) In Anil Kumar Mehta vs Income Tax Officer (ITO), the Bombay High Court addressed procedural issues
👌👌👌👌👌👌👌Long-Term Capital Gains on Sale of Immovable Property in India
Clipped from: https://taxguru.in/income-tax/long-term-capital-gains-sale-immovable-property-india.html As per the Indian Income-tax Act, income arising from the sale of a capital asset is taxed under the head ‘Income from Capital
👌👌👌👌👌👌👌Redevelopment of society – Tax implications
Clipped from: https://taxguru.in/income-tax/redevelopment-society-tax-implications.html I. Introduction II. Income tax considerations A. Whether sale of development rights amounts to transfer and thereby chargeable to tax under the head
👌👌👌👌👌👌👌Immovable Property Sold at less than Stamp Duty Value – Tax Impact on Seller
Clipped from: https://taxguru.in/income-tax/immovable-property-sold-stamp-duty-tax-impact-seller.html Income-Tax Implications for the Sellers, if any Immovable Property is Sold for a consideration less than Stamp Duty Value When any person sells
👌👌👌👌👌👌👌Income-Tax Implications: Joint Development Agreement & Property Transactions
Clipped from: https://taxguru.in/income-tax/income-tax-implications-joint-development-agreement-property-transactions.html “Explore Income-Tax Implications of Joint Development Agreements in Property Transactions. Unveil the complexities of Section 45(5A) of the Income-tax Act, 1961, covering mechanisms,
👌👌👌👌👌👌👌Section 45, Section 48 and Section 54 of the Income Tax Act, 1961
Clipped from: https://taxguru.in/income-tax/idea-capital-gain-tax-property-redevelopment-heres-know.html No Idea about Capital Gain Tax but Property Under Re-Development? Here’s all you Need to Know!! The Finance Act, 2017 inserted a new
👌👌👌👌👌👌👌Holding period computable from allotment letter date & not sale agreement registration date
Clipped from: https://taxguru.in/income-tax/holding-period-computable-allotment-letter-date-sale-agreement-registration-date.html Minaxi Mahesh Pawani (Deceased) through Legal Heir Pratik Mahesh Pawani (ITAT Mumbai) For Capital Gain and for Indexation holding period shall be computed
👌👌👌👌👌👌👌Capital Gain Tax – Holding Period of The Property
Clipped from: https://taxguru.in/income-tax/capital-gain-tax-holding-period-property.html The holding period of the property to compute Capital Gain tax is always a subject matter of controversy between the taxpayer and the
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