Articles

by Shine Wing

February 17, 2021

PLI scheme for Telecom Sector gets Government’s approval

The Government in November 2020 had anno...

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by Shine Wing

February 15, 2021

Importer-Exporter Code (IEC)

The Director-General of Foreign Trade (D...

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by Shine Wing

February 5, 2021

Amendment to Definition of a Small Company

The Ministry of Corporate Affairs (MCA),...

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by Shine Wing

January 29, 2021

Applicability of GST on Salary paid to Director of Company

Brief Facts of the case: The appellan...

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by Shine Wing

January 18, 2021

GST is applicable on Notice Pay Recovery from Employees

Brief Facts of the case: The applican...

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by Shine Wing

January 6, 2021

Introduction of Legal Entity Identifier for large value transactions of INR 50 crores or more in Centralized Payment System

With effect from April 1, 2021, The Rese...

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by Shine Wing

December 23, 2020

Amendment- Companies (Appointment and Qualification of Directors) Rules, 2014

Ministry of Corporate Affairs has made f...

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by Shine Wing

December 21, 2020

MCA amends applicability date of CARO, 2020

In view of COVID-19 pandemic, the Minist...

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by Shine Wing

December 5, 2020

Compulsory Convertible Debentures are to be considered as Debt and not as Equity

Facts of the Case: The assessee is en...

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by Shine Wing

December 3, 2020

Extension of Due Date for filing of Cost Audit Report

Ministry of Corporate Affairs (MCA) vide...

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by Shine Wing

December 1, 2020

Online filing of application for Un-blocking E-Way generation facility

Now online application can be filed for ...

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by Shine Wing

November 27, 2020

Blocking of E-Way generation facility after 1 December, 2020

Blocking of E-way bills (EWB) generation...

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by Shine Wing

November 10, 2020

MCA extends due date for inclusion of independent director’s name in data bank

Ministry of Corporate Affairs (MCA) vide...

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by Shine Wing

November 10, 2020

Defaulting LLP allowed to file belated documents due for filing till 30th Nov,2020

Ministry of Corporate Affairs (MCA) vide...

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by Shine Wing

November 2, 2020

Code on Social Security, 2020

Ease of labour regulations and uniformit...

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by Shine Wing

October 24, 2020

Relief for taxpayers – Extension of Due Dates for Filing of Income Tax Returns

In view of challenges faced by taxpayers...

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by Shine Wing

October 23, 2020

AO does not have power to change method for share valuation opted by assessee

Facts of the Case: The assessee is en...

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by Shine Wing

October 20, 2020

Tolerance Limit for Computation of ALP

Central Government vide Notification No....

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by shinewingindia

October 12, 2020

Blocking of E-Way generation facility after 15 October, 2020

Blocking of E-way bills (EWB) generation...

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by shinewingindia

October 9, 2020

Amended Provisions for Utilization of Foreign Contribution

The Foreign Contribution (Regulation) Am...

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by shinewingindia

October 6, 2020

Recommendations of 42nd GST Council Meeting Updates

Following are the recommendations discus...

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by shinewingindia

October 6, 2020

Clarifications on TDS Provisions for e-Commerce Operators

Introduction: There have been certain...

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by shinewingindia

October 5, 2020

Amendment of ITR and Other Forms for AY 2020-21

Introduction: CBDT in line with the n...

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by shinewingindia

October 3, 2020

Requirement of Licenses for Toys may arise from March

India could introduce a phased license r...

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by shinewingindia

October 3, 2020

No Scrip wise reporting for Short-Term Listed Shares

Background and Facts: There was a r...

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by shinewingindia

October 2, 2020

Extension of compliance deadlines till 31st March, 2021

On 31.03.2020, the President proclaimed ...

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by shinewingindia

September 26, 2020

Vodafone wins arbitration against India in International Court

Background and Facts: Revenue depar...

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by shinewingindia

September 26, 2020

Guidelines for Compulsory Selection of Return for Complete Scrutiny

Keeping in view the Faceless Assessment ...

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by shinewingindia

September 25, 2020

Expenditure on Software is of Revenue Nature

Background and Facts: Assessee comp...

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by shinewingindia

September 25, 2020

Accounting treatment of indirect administrative overheads incurred during construction phase of power plant

Expert Advisory Committee (EAC) of The I...

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by shinewingindia

September 25, 2020

No penalty if it was not mentioned in notice that assessee had concealed income or furnished inaccurate details

Facts of the Case: Assessee, a part...

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by shinewingindia

September 21, 2020

Delinking of Debit/Credit Note from Original Invoice Reported in GSTR-1/6 or Refund Filing

Much Awaited relief to the taxpayer!! ...

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by shinewingindia

September 19, 2020

Extension of Due Date for filing Cost Audit Report

In view of the extraordinary disruptions...

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by shinewingindia

September 17, 2020

Ceiling on MEIS benefits from 01.09.2020 to 31.12.2020

To ensure that the total claim under MEI...

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by shinewingindia

September 15, 2020

Strengthening the communications and relationships between Internal Auditor & Audit Committee

Internal audit has become an important t...

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by shinewingindia

September 12, 2020

Update Regarding Enabling GSTIN on E-Invoice Portal

As a facilitation measure, all the taxpa...

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by shinewingindia

September 11, 2020

Reimbursement of cost from Indian group concern for providing business support not taxable as FTS in India

Background and Facts Assessee, a De...

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by shinewingindia

September 10, 2020

TCS on Sales of Goods: Finance Act, 2020

Introduction: Provisions related to c...

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by shinewingindia

September 9, 2020

Company Law Insights || MCA extends due date for holding AGM for FY 19-20 by 3 months

Ministry of Corporate Affairs (MCA) vide...

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by shinewingindia

September 9, 2020

Conflicts of Interest

Conflicts of Interest arise when a perso...

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by shinewingindia

September 7, 2020

To Do’s in GST return of September 2020

Last chance to do following in GSTR-1 of...

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by shinewingindia

September 7, 2020

New functionality added for TCS & Composition taxpayers

Recently GST portal added new features. ...

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by shinewingindia

September 2, 2020

New Features added on GSTN portal

Recently new features have been added on...

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by shinewingindia

September 2, 2020

Extension of time limit for compliance by Anti-Profiteering Authorities

As per the notification no.65/2020-Centr...

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by shinewingindia

September 2, 2020

New Guidelines, New WAY! – Virtual Personal Hearings

CBIC introduced virtual hearing of adjud...

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by shinewingindia

September 1, 2020

CSR Policy amended to include R&D on Drugs, Vaccines for COVID-19

Ministry of Corporate Affairs (MCA) vide...

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by shinewingindia

September 1, 2020

Business Continuity Planning

Failure and disasters can happen, as the...

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by shinewingindia

August 27, 2020

Interest on GST liability for periods prior to September 01 2020 – Clarifies Ministry of Finance

Yesterday we published an update on the ...

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by shinewingindia

August 26, 2020

Aadhar Authentication Required Now for GST Registration

CBIC vide its Notification No. 62/2020–C...

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by shinewingindia

August 26, 2020

Interest on belated GST liability payments- Shall be payable only on “cash liabilities”

One of the most awaited notifications re...

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by shinewingindia

August 25, 2020

Artificial Intelligence (AI) aligned with Accounts Payable Process

With the emerging tough and competitive ...

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by shinewingindia

August 24, 2020

MCA Clarification on extension of AGM for F.Y ended 31st March,2020

Ministry of Corporate Affairs (MCA) vide...

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by shinewingindia

August 21, 2020

New facility added on GST portal-Option to download invoice wise detail of Table 8A of Form GSTR-9 (Annual return)

A new feature has been added on the GST ...

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by shinewingindia

August 21, 2020

Fourth Industrial Revolution (Industry 4.0)

Development in technology has no way lef...

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by shinewingindia

August 19, 2020

Green Internal Audit

“Green” is a definition of everything re...

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by shinewingindia

August 13, 2020

Transparent Taxation – Honouring the Honest

In the era of structural reforms, Indian...

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by shinewingindia

August 13, 2020

AO cannot change the method of Valuation of Shares opted by the Assessee

Facts of the Case: The assessee is ...

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by shinewingindia

August 13, 2020

Revised Guidelines for Opening Current Accounts by Banks – More Discipline

Reserve Bank of India vide its notificat...

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by shinewingindia

August 11, 2020

Risk associated with Corporate Governance in Organization and Changes in COVID 19

Corporate Governance means processes and...

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by shinewingindia

August 11, 2020

Clarification on Existing Entrepreneurs Memorandum/ Udyog Aadhar Memorandum (UAM)/ New Udyam Registration

Ministry of Micro, Small & Medium En...

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by shinewingindia

August 10, 2020

HR Audit: An Essential Improvement Tool

The HR (human resources) function has ev...

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by shinewingindia

August 8, 2020

Segregation of Duties and COVID 19

This pandemic has resulted in job losses...

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by shinewingindia

August 6, 2020

Extension of due date for filing of Form GSTR- 4 for FY 2019-20

Central Board of Indirect Taxes and Cust...

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by shinewingindia

August 5, 2020

Digital transformation and role of Internal Audit

This pandemic has seen a significant ris...

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by shinewingindia

August 1, 2020

Rapid changes in Company’s Internal Controls- Impact of COVID-19

COVID-19 has disrupted most business are...

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by shinewingindia

July 31, 2020

Amendment to Indian Accounting Standard-116 Leases

Ministry of Corporate Affairs (MCA) vide...

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by shinewingindia

July 31, 2020

Amendment in Form GST INV-01 and Aggregate turnover limit for issuing E-invoice

The format for the Form GST INV-01(E-inv...

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by shinewingindia

July 31, 2020

Measures to Protect Customer Data

A business can’t get far without custome...

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by shinewingindia

July 30, 2020

Outsourcing and Managing Third – Party Relationship

Drivers: Organizations are increasing...

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by shinewingindia

July 30, 2020

Extension of due date for filing of FLA Return for FY 2019-20

Reserve Bank of India (RBI) through an a...

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by shinewingindia

July 29, 2020

SEBI extends time for submission of financial results for the Quarter/ Half year/ Financial year ended 30th June,2020

The Securities and Exchange Board of Ind...

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by shinewingindia

July 29, 2020

MCA notifies amendments to Indian Accounting Standard-1

Ministry of Corporate Affairs (MCA) vide...

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by shinewingindia

July 29, 2020

AO is not justified to change the earlier method of accounting adopted by the assessee to determine the income tax on estimate basis: HC Karnataka

Facts of the case: Assessee, is eng...

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by shinewingindia

July 29, 2020

Transfer of Development Rights of a property would not attract the provisions of u/s 2(47)(v) of the Income Tax Act, if only part payment has been received.

Facts of the case: The assessee, is...

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by shinewingindia

July 21, 2020

Memorandum of Understanding between CBDT and MoMSME

CBDT has issued a press release regardin...

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by shinewingindia

July 20, 2020

New Form 26AS is faceless hand-holding of taxpayers to e-file returns: CBDT

CBDT has issued a press release regardin...

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by shinewingindia

July 18, 2020

Interest free advances are presumed to be from Interest free borrowing, subject to sufficiency, for disallowance u/s 14A: Bombay HC

Facts of the case: Assessee during ...

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by shinewingindia

July 16, 2020

Digital content developed by an animation company is a copyrighted intangible asset and not a computer software. Therefore, eligible for depreciation at the rate of 25%.

Facts of the case: The assessee is ...

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by shinewingindia

July 16, 2020

Expenditure incurred towards objectives ancillary to main objective of society shall be considered as exempt u/s 11 of the Income Tax Act, 1961

Facts of the case: The assessee is ...

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by shinewingindia

July 16, 2020

One Time Relaxation for Verification of ITR which is Pending for Non-Filing of ITR-V

Issue: Hitherto, Central Board of Dir...

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by shinewingindia

July 16, 2020

When Merits are Fragile, Pre-Deposit of Recovery Amount is Must: Delhi High Court

Facts of the case Assessee, being a...

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by shinewingindia

July 10, 2020

When Merits are Fragile, Pre-Deposit of Recovery Amount is Must: Delhi High Court

Facts of the case Assessee, being a...

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by shinewingindia

July 9, 2020

Extension of relaxation for conducting Board Meeting to approve Financial Statements till 30th September,2020

Ministry of Corporate Affairs (MCA) vide...

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by shinewingindia

July 6, 2020

GOVT. FURTHER EXTENDS LATE FEES WAIVER AND REDUCED INTEREST RATE FOR GST RETURNS FILING

S.no Class of registered ...

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by shinewingindia

July 3, 2020

Extension of due date for filing of FLA Return for FY 2019-20

Reserve Bank of India (RBI) through an a...

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by shinewingindia

June 30, 2020

Employees Allowed to Claim I-T Exemption on Conveyance Allowance Under New Tax Regime

CBDT has notified new rules to enable in...

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by shinewingindia

June 29, 2020

Advance Tax Liability can be adjusted against Cash Seized by Income Tax Dept. from Assessee: HC

Facts of the case: The assessee is...

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by shinewingindia

June 27, 2020

UDYAM Registration for MSME

The Central Government vide its notifica...

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by shinewingindia

June 25, 2020

SEBI extends time for submission of financial results for the Quarter/ Half Year/ Financial Year ending 31st March 2020

The Securities and Exchange Board of Ind...

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by shinewingindia

June 25, 2020

Amendment in Companies (Appointment and Qualification of Directors) Rules, 2014 regarding inclusion of Independent Director’s Name in data bank

Ministry of Corporate Affairs (MCA) vide...

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by shinewingindia

June 25, 2020

COVID-19 Relief – Ease for Taxpayers, CBDT Further Extends Compliance Due Dates

In view of the challenges faced by taxpa...

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by shinewingindia

June 13, 2020

Key Recommendations of 40th GST Council Meeting

Key Recommendations of 40th GST Council ...

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by shinewingindia

June 11, 2020

CBIC Issued Clarifications for GST Officers i. GST on Director’s Remuneration, and ii. Refund of Accumulated ITC

CBIC has recently issued two clarificati...

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by shinewingindia

June 4, 2020

Monetary Policies || Government Growth Booster for MSMEs

Small & medium Enterprises are the b...

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by shinewingindia

June 3, 2020

Incentive Scheme || Ministry of Electronics and IT SPECS Disbursement PolicyMinistry of Electronics and IT SPECS Disbursement Policy

Incentive Disbursement Guidelines under ...

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by shinewingindia

June 3, 2020

Key Changes related to Provident Fund

The Government of India in its...

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by shinewingindia

June 2, 2020

Key Changes to the New ITR Forms 1 to 7 Notified by CBDT for AY 2020-21

Common Changes in ITR 1, 2 and 4 Pa...

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PLI scheme for Telecom Sector gets Government’s approval

Amendment to Companies (Share Capital and Debentures) Rules, 2014

Importer-Exporter Code (IEC)

Amendment to Definition of a Small Company

Applicability of GST on Salary paid to Director of Company

GST is applicable on Notice Pay Recovery from Employees

Introduction of Legal Entity Identifier for large value transactions of INR 50 crores or more in Centralized Payment System

Amendment- Companies (Appointment and Qualification of Directors) Rules, 2014

MCA amends applicability date of CARO, 2020

Compulsory Convertible Debentures are to be considered as Debt and not as Equity

Extension of Due Date for filing of Cost Audit Report

Online filing of application for Un-blocking E-Way generation facility

Blocking of E-Way generation facility after 1 December, 2020

MCA extends due date for inclusion of independent director’s name in data bank

Defaulting LLP allowed to file belated documents due for filing till 30th Nov,2020

Code on Social Security, 2020

Relief for taxpayers – Extension of Due Dates for Filing of Income Tax Returns

AO does not have power to change method for share valuation opted by assessee

Tolerance Limit for Computation of ALP

Blocking of E-Way generation facility after 15 October, 2020

Amended Provisions for Utilization of Foreign Contribution

Recommendations of 42nd GST Council Meeting Updates

Clarifications on TDS Provisions for e-Commerce Operators

Amendment of ITR and Other Forms for AY 2020-21

Requirement of Licenses for Toys may arise from March

No Scrip wise reporting for Short-Term Listed Shares

Extension of compliance deadlines till 31st March, 2021

Vodafone wins arbitration against India in International Court

Relief in Late Fees of Delay in Filing of Form GSTR-4/10 and Change of Navigation of Comparison of Liability and ITC Summary

Guidelines for Compulsory Selection of Return for Complete Scrutiny

Expenditure on Software is of Revenue Nature

Accounting treatment of indirect administrative overheads incurred during construction phase of power plant

No penalty if it was not mentioned in notice that assessee had concealed income or furnished inaccurate details

Corporate Social Responsibility & Improved Business Effectiveness

Delinking of Debit/Credit Note from Original Invoice Reported in GSTR-1/6 or Refund Filing

Extension of Due Date for filing Cost Audit Report

Ceiling on MEIS benefits from 01.09.2020 to 31.12.2020

Strengthening the communications and relationships between Internal Auditor & Audit Committee

Update Regarding Enabling GSTIN on E-Invoice Portal

Reimbursement of cost from Indian group concern for providing business support not taxable as FTS in India

TCS on Sales of Goods: Finance Act, 2020

Company Law Insights || MCA extends due date for holding AGM for FY 19-20 by 3 months

Conflicts of Interest

To Do’s in GST return of September 2020

New functionality added for TCS & Composition taxpayers

New Features added on GSTN portal

Extension of time limit for compliance by Anti-Profiteering Authorities

New Guidelines, New WAY! – Virtual Personal Hearings

CSR Policy amended to include R&D on Drugs, Vaccines for COVID-19

Business Continuity Planning

Interest on GST liability for periods prior to September 01 2020 – Clarifies Ministry of Finance

Aadhar Authentication Required Now for GST Registration

Interest on belated GST liability payments- Shall be payable only on “cash liabilities”

Artificial Intelligence (AI) aligned with Accounts Payable Process

MCA Clarification on extension of AGM for F.Y ended 31st March,2020

New facility added on GST portal-Option to download invoice wise detail of Table 8A of Form GSTR-9 (Annual return)

Fourth Industrial Revolution (Industry 4.0)

Green Internal Audit

Transparent Taxation – Honouring the Honest

AO cannot change the method of Valuation of Shares opted by the Assessee

Revised Guidelines for Opening Current Accounts by Banks – More Discipline

Risk associated with Corporate Governance in Organization and Changes in COVID 19

Clarification on Existing Entrepreneurs Memorandum/ Udyog Aadhar Memorandum (UAM)/ New Udyam Registration

HR Audit: An Essential Improvement Tool

Segregation of Duties and COVID 19

Extension of due date for filing of Form GSTR- 4 for FY 2019-20

Digital transformation and role of Internal Audit

Rapid changes in Company’s Internal Controls- Impact of COVID-19

Amendment to Indian Accounting Standard-116 Leases

Amendment in Form GST INV-01 and Aggregate turnover limit for issuing E-invoice

Measures to Protect Customer Data

Outsourcing and Managing Third – Party Relationship

Extension of due date for filing of FLA Return for FY 2019-20

SEBI extends time for submission of financial results for the Quarter/ Half year/ Financial year ended 30th June,2020

MCA notifies amendments to Indian Accounting Standard-1

AO is not justified to change the earlier method of accounting adopted by the assessee to determine the income tax on estimate basis: HC Karnataka

Transfer of Development Rights of a property would not attract the provisions of u/s 2(47)(v) of the Income Tax Act, if only part payment has been received.

Memorandum of Understanding between CBDT and MoMSME

New Form 26AS is faceless hand-holding of taxpayers to e-file returns: CBDT