Lakshmikumaran & Sridharan Attorneys (LKS) is participating as exclusive Knowledge Partner in the following seminar being organized by Confederation of Indian Industry (CII).
The Digital Personal Data Protection Bill, 2023 (“DPDP Bill”) was finally passed by the Parliament which will give India, its first comprehensive privacy legislation. Like its previous iterations, the Bill seeks to establish a regulatory body called the Data Protection Board of India
The 50th GST Council Meeting has proved to be a significant milestone in the tumultuous journey of GST. The Circulars which followed the meeting suggests that the Council has attempted to tackle several complex and controversial issues that have plagued the industry with uncertainty for the last six years
Tax laws are ever evolving. The 50th GST Council Meeting has proved to be a significant milestone in the tumultuous journey of GST. The Council has attempted to tackle several complex and controversial issues that have plagued the industry with uncertainty for the last six years.
The SEBI LODR Amendment dated 14 June 2023, effective from 15 July 2023 has bought about significant changes which include the materiality criteria for disclosures for listed companies and also events or information that need to be disclosed along with implications on the continuous and existing events or information.
The focus of the Government to simplify tax laws with an intent to promote growth and ensure ease of doing business in India is apparent in the current economic climate. This mandate has rendered amendments to tax laws unavoidable, giving rise to many new and varied interpretations. Tax legislations, in specific, are infamous for producing numerous disputes on account of opposing positions adopted by taxpayers and the taxman.
The Goods and Services Tax Council (‘GST Council’) in its 50th meeting held on 11 July 2023 has announced its decision to levy 28 per cent tax on full face value for online gaming, casinos and horse racing.
The 50th GST Council Meeting has proved to be a significant milestone in the tumultuous journey of GST. The Press Release issued for summarizing the recommendations suggests that the Council has attempted to tackle several complex and controversial issues that have plagued the industry with uncertainty for the last six years.
We are pleased to inform you that Institute of Business Laws (IBL) along with Knowledge Partner Lakshmikumaran & Sridharan (LKS), is organising a Seminar on Investigations and Audit under Customs law, in Mumbai to guide manufacturers, service providers, exporters, importers, entrepreneurs and others from trade and commerce.
During the period between 2007 and 2012, many companies were raising capital by issuing shares at a huge premium. The Income-tax department had re-opened assessment of all such companies that had issued shares at a price higher than the book value of the company. In many cases, the return was processed u/s 143(1) of the Income-tax Act, and hence the Revenue Authorities claimed the reopening of assessment to be in due compliance of law.
Section 206C(1G) of the Income-tax Act, 1961 (‘IT Act’) introduced by the Finance Act, 2020, provides for Tax Collection at Source (‘TCS’) on (i) foreign remittance under the Liberalised Remittance Scheme (LRS) in excess of INR 7 lakh per year, and on (ii) sale of overseas tour program package. The Finance Act, 2023, (i) increased the rate of TCS from 5% to 20%, and (ii) removed the threshold of INR 7 lakh for triggering TCS on LRS. These amendments were to take effect from 1 July 2023.
Venue : Virtual Webinar
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