Economic Law Practice

There will be a complete waiver of the arrears where they are of Rs 10,000 or less per year. The Maharashtra Settlement of Arrears of Tax, interest, penalty or late fee scheme 2022 scheme will be implemented from April 1 till September 30, 2022. As per the gazette notification, there will...

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Black Money (Undisclosed Foreign Income and Assets) and Imposition of Tax Act, 2015 (Black Money Act) came into force on 1st April, 2016, with an aim to tax undisclosed foreign income and  foreign asset acquired  from such undisclosed foreign income and to punish the person indulging  in illegitimate means of generating money  and causing loss to...

It is observed that the company was incorporated on 09.08.2019 and paid up Share Capital ofthe company from its inception was Rs. 8,75,00,000. →However, the Company had failed to appoint FULL TIME QUALIFIED COMPANY SECRETARY during the period from 7.02.2020 to 31.03.2020 as per the requirement of Section 203 read with...

Any person , Whether or not he has not furnished an original return, belated return or revised return, may furnish an updated return of his income till 24 months from the end of the assessment year. But when he cannot file updated return- 👉 If updated return is a loss,

Here are five big points you need to know Subscribers of Employees' Provident Fund and Voluntary Provident Fund (VPF) who have PF contribution of over Rs 2.5 lakh per financial year will now have two separate PF accounts. These rules will be effective from April 1, 2022.What this means is that till FY22,...

Answer: I wanna make a prediction for you, I predict that the 21st-century is going to be the Indian century… The dynamism, energy… everywhere I go here, people are interested in self-improvement, growth… This country has something special… Jeff Bezos The future generation of India will...

Rule 12AB has been inserted by way of notification No. 37/2022.Freshly inserted Rule 12AB provides for conditions for furnishing return of income by persons referred to in clause (b) of sub-section (1) of section 139 in terms of clause (iv) of the seventh proviso to sub-section (1) of section 139Following are the new conditions, satisfaction of...

MCA amends the Companies (Incorporation) Rules, 2014, inter alia inserts a proviso under Rule 12 (application for incorporation of companies) specifying that in case of a Company being incorporated as a Nidhi, the declaration by the Central Government u/s 406 of the Companies Act shall be obtained by the Nidhi before commencing the business and a declaration...

RBI Governor Shaktikanta Das in his media brief held earlier today after the first MPC Meeting for this fiscal, which was held from April 6 to 8, reveals that, based on an assessment of the macroeconomic situation, MPC voted unanimously to keep the policy repo rate unchanged at 4% and decided to remain “accommodative” while focusing on...