01. From Companies Act.
·
Listed companies should have financial reporting quality
reviewer.
·
If someone from the entity filters the mails to be forwarded
to the top management, then it can go against DPDP Act
·
Approval of financial statements by the Board requires
filing of MGT 14 for public companies.
· Rotation of auditors and rotation of audit partners, both are mandatory in case you are the statutory auditors of listed entities.
02. Deduction under Sec 54 and Sec 54F of the
Income Tax Act be claimed simultaneously?
(a)
Under both these sections the investment in residential house
has to be made within a period of two years from the date of sale of the
respective assets. A longer period of three years is available if you go for
self-construction or booking an under-construction residential house
(b)
There is no specific bar in simultaneously claiming the
exemption under both sections. The same has been decided by the Income Tax
Appellate Tribunal in the decision of Venkata Ramana Umareddy Vs Dy. CIT (ITAT
Hyderabad) (IT Appeal No. 552 (Hyd.) of 2012).
(c)
We can conclude that an assessee can claim deduction u/s 54
and 54F simultaneously subject to that the same has been acquired in fulfilment
of the conditions stipulated under the said sections.
03.
Under PMLA Act, following may be considered as suspicious
transactions.
(a)
Sale & Lease back
(b)
Inter corporate loans & investments.
(c)
Related party transactions.
(d)
Differential pricing to similarly places
customers.
(e)
Sales via consignment agents
(f)
Loans to consultants
(g)
Volume of transactions with few
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