Applicability of Interim moratorium u/s 96 of the IBC: In the case of Saranga Anilkumar Aggarwal vs. Bhavesh Dhirajlal Sheth & Ors., the Supreme Court addressed the applicability of the interim moratorium under Section 96 of the Insolvency and Bankruptcy Code (IBC) concerning penalties imposed by regulatory bodies. The Court clarified that such penalties do …
Guide on FASTag recharge methods : Changes in FASTag Rules, which is come into effect from February 17, 2025 Toll transactions will be declined for blacklisted or low-balance FASTags if the issue is not resolved within 60 minutes before reaching the toll plaza. If a FASTag is blacklisted 10 minutes after scanning, the toll payment …
TAX RESIDENCE CERTIFICATE FOR NON-RESIDENT INDIANS—STEP-BY-STEP PROCEDURE 1. Documentation requirement for TRC Certificate: The Central Board of Direct Taxes finally issued Rule 21AB, which outlines the format in which the TRC should be submitted. The following documents or information are required for TRC. Name of the taxpayer Status (individual, company, firm etc.) of the taxpayer …
Overview of the importance of non-Software Technology Parks of India & SOFTEX filing Non-STPI Registration Any company, partnership firm, or proprietorship engaged in the development of export-oriented computer software or IT-enabled services can register as a Non-STP unit under Software Technology Parks of India to obtain SOFTEX certification. The RBI through a circular issued in …
Advantages of Taking a Gold Loan Against Your Jewellery A gold loan can be a practical solution if you need quick access to funds. By pledging your gold jewellery as collateral, you could unlock its value without having to sell it. This type of loan is not only easy to avail but also comes with …
Summary on the ITR-U & Amendments in the Budget 2025 Introduction: ITR-U allows taxpayers to rectify mistakes or omissions in previously filed returns, including original, belated, or revised returns under Section 139(8A) of the Income Tax Act. It serves as an option for taxpayers to ensure accurate tax filing and compliance. With the Budget 2025 …
Moratorium under Insolvency and Bankruptcy Code (IBC), 2016 The moratorium is a key feature of IBC, ensuring the Corporate Debtor’s assets remain protected during CIRP, thereby maximizing resolution opportunities. It balances creditors’ rights with the debtor’s need for restructuring, preventing disruptive enforcement actions. The moratorium is a temporary suspension of legal proceedings and enforcement actions …
Overview on Mandatory Requirement of AFA under IBC Code This document provides an overview of the Authorisation for Assignment under the IBBI (Insolvency Professionals) Regulations, outlining its meaning, eligibility criteria, procedural aspects, and key do’s and don’ts for Insolvency Professionals. The AFA is a crucial requirement for insolvency professionals under the Insolvency and Bankruptcy Code, …
No More 54EC benefits for depreciable assets under Income Tax Bill 2025 The proposed changes in the new Income Tax Bill 2025 regarding Section 54EC deductions reflect a significant shift in how capital gains reinvestment exemptions will be treated, particularly concerning depreciable assets. Old Interpretation on 54EC Benefits under Pre-2025 Bill U/s 54EC of the …
Whether NGO allowed permissible commercial activities & investment modes? The proposed Income Tax Bill, 2025, indeed aims to provide clarity for non-profit organizations (NPOs) on issues such as permissible commercial activities and investment modes. While these provisions are expected to bring more certainty and help reduce litigation, the call for further clarification is valid. Would …