The case essentially deals with a third-party mortgage extended by the Corporate Debtor for a loan taken by its holding company, wherein the Corporate Debtor mortgaged its property for such borrowing.
As I am penning down this piece, the market capitalisation worth Rs. 13.4 lakhs crores have already been eroded with BSE index plunging by 2700 points and NSE index tanking by 815 points, on account of Russia’s launching of a special military operation cum all-out invasion by land, air and sea of Ukraine on 24.2.2022.
Government is trying to provide an opportunity to taxpayers to disclose their income which was previously omitted to be disclosed, and on the other hand will also generate additional revenue for the government. It will facilitate ease of compliance to the taxpayer in a litigation free environment.
In the recent case passed by the three-judge bench of the Supreme Court on 5 January 2021, the court granted future prospects even in cases of national income.
DPIIT has created Startup India Seed Fund Scheme (SISFS) with an outlay of INR 945 Crore to provide financial assistance to startups for Proof of Concept, prototype development, product trials, market entry, and commercialization It will support an estimated 3,600 entrepreneurs through 300 incubators in the next 4 years.
The pandemic has put not only lives in danger but also many out of jobs resulting in a financial crisis. This has alarmed people to save for the rainy days.
The Government has changed the rules for calculation of interest on EPF/GPF/RPF Accounts and has set threshold limit for contribution in EPF Rs. 2.50 Lakhs and GPF Rs. 5.00 Lakhs on which interest received will not be taxable.
Let us analyse some of these budget amendments proposed in the Finance Bill, 2022, aimed at overturning the well-known and established judgements
INC-20A is a Declaration for Commencement of Business form. According to the new section 10A(1)(a), of the Companies Act, 2013, and Rules 23A of the Companies (Incorporation) Rule 2014, it is imperative for a director of an incorporated company to file an INC 20A form with the Registrar of Companies (RoC).
In the final analysis if the bank employees are vigilant and alert to take deterrent actions without any let up on the first sign of fraud itself, the incidents of fraud can be minimized to a great extent.
Live class on PF & ESI Enrollment & Returns Filing(with recording)
CAclubindia
