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Finance

Privatisation of Banks: A Brief Overview

Privatisation of Banks: A Brief Overview

The government has decided to make a few amendments in the Banking Laws (Amendment) Bill, 2021 which aims to privatise two public sector banks. The banks w...

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Income Tax

Additions under Section 68 can’t be made based on mer...

Additions under Section 68 can’t be made based on mere suspicion

In the case of Smt. Tapasi Singh Vs ITO (ITAT Kolkata), the assessee provided new capital, which was explained as a gift. She provided tax information for...

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Finance & Accounting

Upcoming Future of Financial Services: An Overview

Upcoming Future of Financial Services

The pandemic accelerated the process of digitization and digital engagement of the financial services which was already gaining its ground at a gradual pac...

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GST

Whether GST applicable on contributions from members to...

Whether GST applicable on contributions from members towards meeting and administrative expenses?

In the case of M/S. Rotary Club of Mumbai Elegant [Advance Ruling Number. GST-ARA-26/2020-21/B-108 dated 9th December 2021], the Honourable AAR, Maharashtr...

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NBFC

No Immediate Impact on NBFCs: CARE on RBI’s PCA Frame...

No Immediate Impact on NBFCs: CARE on RBI’s PCA Framework

One of the rating agencies, Care edge ratings, stated that there would be no NBFCs within its rated universe that would be impacted by the RBI’s new Prom...

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Compliances

Laws related to the Hotels and Hospitality Industry of...

Laws related to the Hotels and Hospitality Industry of India

Most of the businessmen have thought at least once about opening a restaurant or a hotel. Since, the entry barriers and exit barriers to the hospitality in...

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NBFC

PCA Framework for NBFCs: An Overview

PCA Framework for NBFCs - Prompt Corrective Action Framework

Recently, the Reserve Bank of India (RBI) came up with a Prompt Corrective Action (PCA) Framework for NBFCs with a view to introduce supervisory tools and...

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GST

Uber India files a Case against levy of GST on App-base...

Uber India files a Case against levy of GST on App-based Auto rides

Auto rickshaw rides booked through app aggregators such as Ola and Uber India are set to become more expensive beginning from January 1, 2022, with the Uni...

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