TaxLiner | Summarizing Laws

2021-06-17 12:54:45 @HubofCA ओपन / कमेंट

2021-06-17 11:15:32 Into the Web: AML Risks of Virtual Assets? – Part II

https://corporate.cyrilamarchandblogs.com/2021/06/into-the-web-aml-risks-of-virtual-assets-part-ii/ ओपन / कमेंट

2021-06-17 06:30:05 Disposal of VSV matters must be completed till July 15: CBDT issues Interim Action Plan for FY 2021-22

Cenvat Credit not allowable on Capital Goods for which full Depreciation is allowed by Income Tax Dept: CESTAT confirms Order denying Credit

SBI app, Internet Banking, UPI will be down for 4 Hours on June 13: Check details

Govt. notifies Anand Mohan Bajaj as the member of the SEBI

Know the Reasons Why Form 26AS must be checked before Filing Income Tax Return

Know 3 Upcoming Functionalities to be deployed on GST Portal: GSTN

Key Recommendations of 44th GST Council Meeting

ED empowered to Dispose of Objections for want of detailed consideration: Delhi HC refuses to quash SCN against J.P Morgan

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2021-06-17 05:30:06 • NCLT: Shareholders meeting in mergers cannot be dispensed with, given Sec. 230 mandate

• NCLT: Approves Vedanta Group Co.’s resolution plan for 13 Videocon companies

• NCLAT: Sec. 29A ineligibility attaches during resolution-plan submission; Quashes NCLT order approving Guarantor’s plan

• SC: Proceedings u/s 34 of Arbitration Act not maintainable against foreign award

• SC: “Financial reliefs within Govt. domain”; Dismisses plea seeking direction for Covid-19 remedial measures

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2021-06-16 17:50:20 Notification No. 73/2021 [F.No.370142/10/2021-TPL] / SO 2336(E)
https://www.incometaxindia.gov.in/communications/notification/notification_73_2021.pdf

Publish Date : Tuesday, June 15, 2021 ओपन / कमेंट

2021-06-16 15:13:08 Moneycontrol Market Reports
Taking Stock: Market snaps 4-day winning streak as investors await US Fed meet outcome

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2021-06-16 13:06:51 BYJU’S is now India’s Most Valued Startup

• Byju's becomes India's most valued startup after $340 mn funding.
• It is valued at $16.5 billion with UBS, Blackstone funding.
• It surpassed digital payments giant Paytm's $16 bn valuation.
• As of June 2021, it is the 11th most valuable startup in the world.
• With this funding It is became the world's largest ed-tech startup.
• Very recently, it secured $460 Mn funding from Facebook cofounder Eduardo Saverin’s B Capital in March 2021.
• It raised around $1 billion in 2020.
• In 2020, funds worth around $2.2 bn were poured in ed-tech startups as against $553 mn in 2019.

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2021-06-16 11:30:05 Tri-Weekly Summarized #Statutory News By Team, Join @HubofCA for Regular Updates:

• The MCA has notified the Companies (Meetings of Board and its Powers) Amendment Rules, 2021 which seeks to amend the Companies (Meetings of Board and its Powers) Rules, 2014 wherein restriction on matters not to be dealt with in a meeting through video conferencing as specified in the Act has been dispensed with. As a result, Companies are free to discuss any matter in meeting conducted through video conferencing

• Senior Official of the Ministry of Finance will be holding an interactive meeting on June 22, 2021 with Infosys on issues/glitches on the recently launched e-filing portal of the Income-tax Dept.

• The CBDT vide Notification No. 73/2021, dated 15-06-2021 has notified 317 the Cost Inflation Index for the Financial Year 2021-22. If a long-term capital asset is transferred, the capital gains is computed after deducting the indexed cost of acquisition instead of just cost of acquisition. Such indexation of cost of acquisition is done on the basis of Cost Inflation Index.

• In view of the COVID-19 pandemic situation and to provide relief to the families of the deceased employees of listed companies, the SEBI has decided that the provisions under the SBEB Regulations relating to minimum vesting period of one year shall not apply in case of death (for any reason) of an employee and in such instances all the options, SAR or any other benefit granted to such employee(s) shall vest with his/her legal heir or nominee on the date of death of the employee.

• The RBI has imposed restrictions with respect to investments in payments system operators (PSOs) by new entities from jurisdictions that have weak measures to deal with money laundering and terrorist financing activities. As a result, New investors from non-compliant FATF jurisdictions would not be permitted to acquire, directly or indirectly, 'significant influence' in a PSO. ओपन / कमेंट

2021-06-16 11:07:51 Indirect Tax Updates:

- High Court of Bombay - Section 13(8)(b) of the IGST Act, 2017 stipulating ‘Place of supply’ (PoS) of ‘Intermediary services’ as location of supplier of services, is ultra vires GST Act and unconstitutional: Bombay High Court;

- AAR, Karnataka - Consideration received from a State Government, Local Authority by a society, in the form of grants is not liable to GST, only if the Government controlled association is covered under the definition of "Government entity";

- AAR, Karnataka - Tax invoice amount to a contract attracting TDS applicability subject to other conditions being satisfied.

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2021-06-16 08:49:34 @HubofCA ओपन / कमेंट