• June 10, 2024

Circular No. SEBI/HO/MIRSD/MIRSD-PoD1/P/CIR/2024/75, Dated: 05.06.2024 Presently, securities received in payout are pooled by the broker before being credited to the respective client demat accounts. However, direct payouts to client accounts were already made available on a voluntary basis as per the circular dated 01.02.2001. It has now been decided that the process of direct securities […]

• June 9, 2024

The Global Anti-Base Erosion (GloBE) Rules are a set of internationally agreed-upon tax rules developed by the Organisation for Economic Co-operation and Development (OECD) to address profit shifting and base erosion by multinational enterprises (MNEs). These rules are part of the OECD's Base Erosion and Profit Shifting (BEPS) initiative, specifically under BEPS Action 15, known […]

• June 8, 2024

Case Details: Lava International Ltd. v. Central Board of Direct Taxes - [2024] 163 taxmann.com 148 (Delhi) Judiciary and Counsel Details Yashwant Varma & Purushaindra Kumar Kaurav, JJ. Rajesh Mahna, Ms Sonia Sharma & Mayank Kouts, Advs. for the Petitioner. Sunil Agarwal, SSC, Shivansh B. Pandya, Viplav Acharya, JSCs & Utkarsh Tiwari, Adv. for the Respondent. Facts of the Case […]

• June 7, 2024

Case Details: Sanjay Baweja v. DCIT - [2024] 163 taxmann.com 116 (Delhi) Judiciary and Counsel Details Yashwant Varma & Purushaindra Kumar Kaurav, JJ. Tarun Gulati, Sr. Adv., Kishore Kumar, Ms Ankita Prakash & Mahesh Singh, Advs. for the Petitioner. Prashant Meharchandani, SSC, Akshat Singh, JSC, Ms Ritika Vohra & Utkarsh Kandpal, Advs. for the Respondent. Facts of the Case The petitioner, […]

• June 6, 2024

PRAVAAH (Platform for Regulatory Application Validation and Authorization) is a secure, centralized web-based portal introduced by the Reserve Bank of India (RBI) to streamline the process of obtaining regulatory approvals. It allows individuals and entities to submit their applications for regulatory approvals online, track the status of their applications, respond to any queries or requests […]

• June 5, 2024

Prof R Balakrishnan – [2024] 163 taxmann.com 60 (Article) Background of this case 1. This is the classic case where the company M/s Shiv Vilas Resorts Private Limited faced the problem of filing the e-form DIR-12 subsequent to the filling up of the vacancy of the company secretary during the MCA V3 implementation process initiated […]

• June 3, 2024

The Annual Information Statement (AIS) is a comprehensive statement containing details of all the financial transactions undertaken by an individual in a financial year. It is an initiative by the Income Tax Department to provide taxpayers with a consolidated view of their financial transactions, which helps them in filing accurate income tax returns (ITRs). Key […]

• June 2, 2024

Indian online gaming companies must navigate various income tax provisions to ensure compliance with the country's tax laws. Below are key tax considerations: 1. Corporate Tax Rate – Domestic Companies: The standard corporate tax rate for domestic companies is 25% if their turnover does not exceed INR 400 crore in the previous year. Otherwise, the […]

• June 1, 2024

Case Details: Vuram Technology Solutions (P.) Ltd. v. Additional Commissioner of GST (Appeals) - [2024] 162 taxmann.com 380 (Madras) Judiciary and Counsel Details C. Saravanan, J. M. Dinesh for the Petitioner. N. Dilip Kumar, Standing Counsel for the Respondent. Facts of the Case The petitioner was engaged in providing software services to its subsidiary in Australia. It […]