Author Archives: Team - Mehta & Mehta
Section 50C does not apply to transfer of tenancy/ leasehold rights
DCIT vs. Tejinder Singh (ITAT Kolkota)
Assessee was a lessee in the property which was sold by the KSCT; there is no dispute on this aspect of the matter. Yet, the Assessing Officer has treated the assessee a seller of property apparently because the assessee was a party to the sale deed, and because, according to the Assessing Officer, “consideration is paid on sale of the property for giving up right of the owner of the property” and that “in the case of leasehold property, the right of owner is
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Incomplete or under Construction Building not liable to wealth tax
Word “building” has to be interpreted to mean a completely built structure having a roof, dwelling place, walls, doors, windows, electric and sanitary fittings etc. If one or more such components are lacking, then it cannot possibly be said that the building is a complete structure for the purpose of section 2(ea) of the Act. A Continue reading
SEBI Order on Synchronised Trades
Last week, SEBI issued an order involving synchronised trading in the scrips of Adani Exports Ltd. The case involves a sharp spike in the price of the shares, more than doubling during a one-month period in November-December 2003. SEBI’s investigation revealed possible synchronised reversal of trades by certain Continue reading
Investors should not deal with unauthorized Portfolio Management Services providers
It has come to the notice of SEBI that some entities are soliciting the general public to entrust their funds and securities to them and offering portfolio management and advisory services without obtaining certificate of registration from SEBI to act as a portfolio manager. Continue reading
Registration of Companies or LLPs which have one of their objects is to carry on the profession of Chartered Accountant, Cost Accountant, Architect, Company Secretary etc.
General Circular No. 2/2012
Dated the 1st March, 2012
Subject: Registration of Companies or LLPs which have one of their objects is to carry on the profession of Chartered Accountant, Cost Accountant, Architect, Company Secretary etc.
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How to know ownership details of a vehicle through mobile
We can now have the ownership details of a vehicle using the Vehicle registration number instantly through SMS.
Send a SMS to 092123 57123 typing vahan
You would get the following information instantly
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SEBI Clarification on Offer For Sale of Shares by Promoters through the Stock Exchange Mechanism
1. This has reference to SEBI circular No. MRD/DP/05/2012, dated February 1, 2012 and MRD/DP/07/2012, dated February 23, 2012, on the subject.
2. It is clarified that the contents of the advertisement, if any, to be issued in terms of Para 4(a) of the
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Notification for Amendment to Rule 52, 53 and 54 of MVAT Rules
Whereas the Government of Maharashtra is satisfied that ircumstances exist which render it necessary to take immediate action further to amend the Maharashtra Value Added Tax Rules, 2005 and to dispense with the condition of previous publication thereof under Continue reading
Know Your LIC Policy Status on Mobile
If you are holding a LIC policy, you might want to check the status of the same and may also be looking to know other information on the same i.e. Installment premium under policy, If policy is lapsed Revival amount payable, Amount of Bonus vested, Amount available as Loan, Details of Nomination etc.. The good news is that Continue reading
Circular for Mutual Funds – Distributor Due Diligence, Clarification to Regulation 24 of SEBI (Mutual Funds) Regulations, 1996
All Mutual Funds/ Asset Management Companies (AMCs) Sir/Madam,
Sub: Circular for Mutual Funds
A. Distributor Due Diligence
1. Please refer to SEBI circular no
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