Capital markets regulator SEBI on Wednesday imposed a total fine of Rs 50 lakh on 23 entities for violating securities market norms in dealing in shares of Unisys Softwares and Holding Industries Ltd. The latest order comes after Sebi scrutinized the shares of Unisys during the period January 2010 to November 2014. The order said […]
Posted inBUSINESS & ECONOMY
3 companies cheated investors, now SEBI will auction their property and collect money
The Securities and Exchange Board of India (SEBI) has taken strict action against three companies that illegally raised money by luring people. In order to get back the money of investors, now the Securities and Exchange Board of India will auction the properties of these three companies. The loss of investors will be compensated by […]
Posted inBUSINESS & ECONOMY
Upcoming IPO: This big company is bringing its IPO, business is spread in 45 countries
These days, specialty chemical stocks are in a lot of discussion, because such fundamentally strong stocks are growing well. Recently, veteran investor Ashish Kacholia has increased his stake in Yasho Industries by 0.2%. This specialty chemical stock has given multibagger returns in the last 2 years. Now Mumbai-based company Prasol Chemicals Limited has taken an […]
Posted inBUSINESS & ECONOMY
ESIC Update: Relaxation Of Time Limit For Depositing And Filing ESI Contribution
The Employees’ State Insurance Corporation (ESIC), vide circular dated 13-04-2022 to all regional directors, regional offices/ sub- regional offices, has provided relaxation of time limit for depositing and filing ESI contribution. It is mentioned in the circular that- As a one time opportunity, employers are allowed to deposit contribution for the month of March, 2022 […]
Posted inINCOME TAX
If Assessee Invested Entire Sale Consideration in New House Property, Capital Gains Are Exempt u/s 54F: ITAT Jaipur
In the case of ITO vs. Raj Kumar Parashar, ITAT Jaipur has held that: The consideration as determined under section 50C based on the stamp duty authority valuation is not a consideration which has been received by or has accrued to the assessee. Rather, it is a value which has been deemed as full value […]
Posted inICAI
UDIN Update: Additional Information To Be Provided While Generating UDIN For Statutory Audit Report Of Bank Branches
This is to inform that the members are now required to fill the value of the MOC while generating UDIN for the Audit Report for Statutory Audit of Bank Branch under the category Audit & Assurance Functions for Statutory Audit-Bank Branch at the UDIN portal without any disclosure of the details of the client. The […]
Posted inINCOME TAX
Reply By Income Tax Department For UDIN Related Issues
Reply in WebEx Session dated 13-04-2022 A) UDIN Update Fail issue is due to failure of UDIN validation from ICAI, Income Tax and ICAI are working on it. B) The form will not get invalidated in future as it have UDIN which get validated by ICAI. (Wait for more updates from their side.)
Posted inINCOME TAX
Resolution Of UDIN Related Queries On Income Tax Portal
For UDIN Related Queries A) UDIN Update Failed B) UDIN Linked to wrong form Send mail to efilingwebmanager@incometax.gov.in with error screen shot, UDIN, Membership No., A.Y., Client PAN This reply from e-filing and Centralized Processing Center of Income Tax.
Posted inBank / Bank Audit
RBI May Increase Repo Rate By 0.25 Percent From June, Preparing For Change in Liberal Stance
The Reserve Bank of India may increase the repo rate by half a percent in the coming two monetary policy reviews. It may increase by 25 basis points in June and 25 basis points in August. The effort of the central bank is to reduce the rate of inflation, due to which it will have […]
Posted inMARKETS
Longest Holiday Of This Year in Stock Market From Today
Talking about the holidays in the stock market, the longest holiday of this year has started from today. Yes, the market will be closed for four consecutive days. Today on 14th April, there will be no business on the occasion of Mahavir Jayanti/ Dr. Babasaheb Ambedkar Jayanti, while April 15th is a holiday on Good […]
Posted inMARKETS
Breaking: Government To Give Big Update On Cryptocurrencies Through FAQs
If you invest in Cryptocurrency, then the government is going to give a big update on it soon. Actually, the government is working on FAQs i.e. frequently asked questions regarding taxation on cryptocurrencies. An official says that the FAQ will make things clear about levying Income Tax and GST on Virtual Digital Assets. The draft of the […]
Posted inMARKETS
SEBI: PACL Investors Will Have To Produce Original Registration Certificate For Refund
A high-level committee of market regulator SEBI has said that investors of PACL will have to produce original registration certificate to withdraw money. This document can be submitted by 30 June, 2022. It will have to be deposited only when investors get a message from SEBI. This will be applicable only for those investors whose claim amount […]
Posted inBUSINESS & ECONOMY
West Bengal Governor Suggest Way To Reduce Petrol- Diesel Prices
On Monday, West Bengal Governor Jagdeep Dhankhar on rising prices of petrol and diesel said that there is only one cure for rising prices that the public should use less petroleum products. In a program organized by Indian Oil Corporation and other oil marketing companies on petroleum conservation, he said that people are expressing their concern […]
Posted inBUSINESS & ECONOMY
External Affairs Minister Jaishankar Said: Europe Buys More Oil From Russia Than India
S Jaishankar on Russian oil deal: Due to the ongoing war between Russia and Ukraine, where both the countries are suffering. Meanwhile, America has made many comments on India regarding buying Russian oil. Countering this, Indian Foreign Minister S Jaishankar has said that the amount of oil that India buys from Russia in a month, Europe […]
Posted inBUSINESS & ECONOMY
ED Issues Summons To Former Xiaomi India MD Manu Kumar Jain
The Enforcement Directorate (ED) has summoned former Xiaomi India Managing Director Manu Kumar Jain to appear. According to the report, Jain is to appear before the ED at 11 am. The ED had earlier issued summons to him and asked him to appear. Explain that the ED wants to ensure whether the business of the company is […]
Posted inBUSINESS & ECONOMY
For the first time in 11 years, the number of domestic patent filing surpasses the number of international patent filing in India during Jan-Mar 2022
Shri Piyush Goyal appreciates consistent efforts made by DPIIT to strengthen the IPR regime in India The coordinated efforts by Department for Promotion of Industry and Internal Trade (DPIIT) and Intellectual Property (IP) office will take India in the top 25 position in the Global Innovation Index- Shri Goyal Filing of patents increases by more […]
Posted inINCOME TAX
In Order To Treat Capital Gains From Penny Stocks As Bogus, Department Has To Show That There is A Scam And Assessee is Part Of Scam
In the case of Navneet Agarwal vs. ITO, ITAT Kolkata has held that: Synopsis: In order to treat the capital gains from penny stocks as bogus, the Dept has to show that there is a scam and that the assessee is part of the scam. The chain of events and the live link of the […]
Posted inBUSINESS & ECONOMY
ED Action: Case Of Seizure Of Drugs- Weapons From Sri Lankan Citizens, Property Worth 3.59 Crores Attached
The Enforcement Directorate has taken a major attachment action in connection with the seizure of drugs and weapons from Sri Lankan nationals. In this action taken under PMLA, 2002, the ED has attached assets worth Rs 3.59 crore of the people involved in the case.
Posted inMARKETS
Mutual Fund Companies To Disclose Risk On Investment in Commodities, SEBI Ordered
Markets regulator SEBI has now ordered mutual fund companies investing in commodities to disclose the risk. This risk o meter will be implemented immediately. A guideline has been issued for this. According to SEBI, just as risk is disclosed on investment in shares, in the same way, risk in commodities will also have to be […]
Posted inINCOME TAX
ITR-1 And ITR-4 Filing For AY 2022-23 Started At Income Tax Portal
New update for the income tax e-filing portal is that ITR-1 and ITR-4 filing for AY 2022-23 (FY 2021-22) has been started at e-filing portal. Reportedly ITR forms for AY 2022-23 were notified on 1st April 2022.
Posted inINCOME TAX
The Words ‘Property is Let’ Does Not Mean ‘Property Actually Let Out’: ITAT Mumbai
In the case of Sachin R. Tendulkar vs. DCIT, ITAT Mumbai has held that: The words ‘property is let’ does not mean ‘property actually let out’. If property is held with an intention to let out in the relevant year coupled with efforts made for letting it out, it could be said that such a […]
Posted inTECH
How To Link Aadhaar Card On DigiLocker? Know Its Benefits And Step By Step Process
What is DigiLocker The Government of India has provided the facility of DigiLocker account under the Digital India campaign. In this, you get up to 1 GB of free cloud space in which you can keep your documents scanned and you are given access to it as and when required. When your DigiLocker account is […]
Posted inBUSINESS & ECONOMY
Before Taking Life Insurance, Know What Are Endowment Plans, How Are They Different From Money Back Plans
What are Endowment Plans Endowment plans are life insurance plans only. But here along with life coverage, the insured also gives the option of regular savings after a fixed time. When the insured invests in an endowment plan for a certain period of time, after that a lumpsum amount is given to the insured as […]
Posted inTECH
Electronic Vehicles: More Than Three Times Increase in Retail Sale
According to the data, 1,68,300 e-vehicles were sold in the country during 2019-20. Retail sales of EVs tripled to 17,802 units during 2021-22. In 2020-21, this figure was 4,984 units. Tata Motors has the largest share in the total sales.
Posted inTECH
Planning To Buy Electric Car? Know Important Things About its Insurance
Let us know about some important rules related to electric vehicle insurance. What is included in insurance Road accidents- Damage, loss due to road accident to the vehicle owner is compensated by the insurance company. Replacement and Repair- If your electric car has any kind of parts to be repaired or replaced, then the insurance […]
Posted inTECH
Flipkart Sale: Get Huge Discount On Every Item From Mobile, TV, Fashion
Flipkart Big Saving Days: Flipkart keeps on bringing its banging sale every time. To compete with Amazon once again, the company has brought its Big Saving Days. This sale will start from 12th April, which will run till 14th April. Let us tell you that while the summer season has started on one hand, its […]
Posted inINCOME TAX
Private Limited Company Cannot Say That It Has No Clue About Subscribers To its Share Capital: ITAT Delhi
In the case of Pee Aar Securities Ltd vs. DCIT, ITAT Delhi has held that: A private limited co cannot say that it has no clue about the subscribers to its share capital. The genuineness of the transaction has to be determined by ground realities and not by documents like PAN cards, board resolutions, share […]
Posted inBUSINESS & ECONOMY
Call Center Cheating in The Name Of Providing Jobs Busted. Many Arrested
Noida: The Cyber Police Station of North-West District has busted a gang that cheated unemployed youths by running a call center. The accused were cheating people in the name of getting jobs in private companies. The police has arrested ten accused including five girls. In the preliminary investigation, it has come to the fore that […]
Posted inBUSINESS & ECONOMY
Two Revenue Inspectors Arrested For Changing Category Of Land
Behat (Saharanpur): The police on Sunday arrested retired registrar Kanungo Janeshwar Prasad and Halka Kanungobirbal of Behat tehsil for selling the allotted leases by changing the category of land. In this case, 12 people including former BSP MLC Mahmood Ali, former MLC Haji Mohammad Iqbal son Mohammad Javed and then SDM Sheetal Prasad Gupta are […]
Posted inBUSINESS & ECONOMY
ED Attaches Assets Worth Rs 57.45 Crore Of Atlas Jewellery Pvt Ltd
The Enforcement Directorate has attached assets worth Rs 57.45 crore of Atlas Jewellery Pvt Ltd and its directors MM Ramachandran and Indira Ramachandran in the Rs 242 crore bank loan fraud case. According to the ED, this fraud took place between 2013 and 2018. ED officials said on Saturday that the attached assets include gold, […]