Tata Sons’ subsidiary Tata Digital has acquired a majority stake in Supermarket Grocery Supplies (SGS), the parent and business-to-business (B2B) operator of e-grocer Bigbasket. The Competition Commission of India (CCI) had approved Tata Digital’s proposal to acquire up to 64.3% in SGS through a combination of primary and secondary transactions. The deal will give Tata Digital control of Bigbasket’s retail and […]
Extension of time limits of certain compliances to provide relief to taxpayers in view of the serve pandemic. Compliance Original Due Date Revised Due Date TDS Return for quarter ending March 2021 31st May 2021 30th June 2021 Issuance of TDS Certificate in Form 16 15th June 2021 15th July 2021 Filing of Return of Income for FY 2020-21(Non audit […]
In this edition we have tried to bring your notice the latest amendment that followed in the month of May, 2021 issued by MCA and SEBI. Amendments issued by MCA Relaxation of time for filing forms related to creation or modification of charges under the Companies Act, 2013 In exercise of the powers conferred under section 460 read with section […]
GST Calendar – May’ 2021 Nature of Compliances Due Date GSTR-7 April’ 2021 tax deducted at source May 10, 2021 GSTR-6 April’ 2021 Input Service Distributor May 13, 2021 GSTR-5 April’ 2021 Non-Resident Taxable Person May 20, 2021 GSTR-5A April’ 2021 OIDAR Service Provider May 20, 2021 GSTR-3B April’ 2021turnover more than 5 Cr May 20, 2021 GSTR-1April’ 2021 turnover […]
For the purpose of applicability of Accounting Standards (“AS”), The Institute of Chartered Accountants of India (“ICAI”) has classified the entities into two segments – company entities and non-company entities. Non-company entities such as sole proprietors, partnership firms, trusts, Hindu Undivided Families, association of persons and co-operative societies are further classified into various levels. Currently, the ICAI has categorized non-company […]
Also, extend the time limits to June 30, 2021 in the following cases where the time limit was earlier extended to 30th, April 2021. Judicial Update
In this edition we have tried to bring to your notice the latest amendments that followed in the month of April 2021 issued by MCA. Amendments issued by MCA Companies (Audit and Auditors) Second Amendment Rules, 2021: In exercise of the powers conferred by sections 139, 143, 147 and 148 read with sub-sections (1) and (2) of section 469 of the […]
Reliance Industries has acquired UK-based Stoke Park Limited for $79 million (£57 million). Stoke Park owns and manages sporting and leisure facilities in Stoke Poges, Buckinghamshire, UK. The facilities include a hotel, conference facilities, sports facilities and one of the highest rated golf courses in Europe. The acquisition will add to the consumer and hospitality footprint of Reliance. The firm […]
Facts A Company is engaged in the manufacturing of Defense Sector. Some of products manufactured by Company are on Special Order. The querist has stated that as the some products are made only against specific orders, the company receives advances from various customers on agreed percentages of sale value of an order for supply of goods and services. While […]
Magma HDI General Insurance has raised funding from ICICI Venture and Morgan Stanley Private Equity Asia, Cyza Chem (Poonawalla Group company) and two family offices. The total transaction size is Rs 525 crore: primary capital-raise of Rs 250 crore and secondary sale of Rs 275 crore. The fresh capital will be used for expanding distribution capabilities. The secondary sale helps […]