Cyril Amarchand Mangaldas News

tax audit deadline is on October 7, 2024, for FY 2023-24 (AY 2024-25). However, this deadline is an extended deadline, which means if you were pinning your hopes on the extended deadline, don't. The original deadline for submitting income tax audit report on the e-filing ITR portal was September 30, 2024. The government is unlikely to extend the deadline again. «In response to a representation made by „Associated Chamber of Commerce & Industries“ #Udhampur, a request was made to the Hon'ble Finance Minister for extension of the date for filing of Audit Report for Assessment Year 2024-25. Thank you Smt Nirmala Sitharaman ji @nsitharaman for conceding the request and issuing the orders accordingly,» said Union Minister Dr Jitendra Singh on X (formerly Twitter).

voters in Haryana will be eligible to cast their votes in the elections for the state’s 90-member assembly on Saturday. A total of 1,031 candidates are contesting, including 101 females. Results for Haryana and the Union Territory of Jammu and Kashmir will be declared on Tuesday.

Udupi district fell ill after drinking contaminated water from a local overhead water tank, Health Department officials said on Friday. «The condition of none of them is serious. Most of them have already recovered with proper medication from the local health centre,» an official said. The affected, mostly from Karki Kalli and Madikal wards of Uppunda Gram Panchayat in Byndoor taluk, had reported symptoms such as vomiting and diarrhea, they said. «Many households witnessed multiple family members displaying similar symptoms, with several homes reporting three or more individuals being affected after drinking water from overhead water tank in Kasinadi,» an official said.

DroneAcharya Aerial Innovations, which has supplied First-Person View drones to the Indian Army, has reached a major milestone by setting a top speed and new benchmark of flying at an altitude of over 17,000 feet, one of the highest ever recorded in Ladakh. Unparalleled in the 7-10-inch category, DroneAcharya's First-Person View (FPV) drones also achieved a top speed of 129 km per hour, far exceeding the required minimum of 60 km per hour, and covered a range of 6.39 km, surpassing the five-km target set by the Army. DroneAcharya demonstrated the capabilities of its FPV drones at Wari-La, a high-altitude area in Ladakh, showcasing their effectiveness in operations. «The company's first-person-view or FPV drones recorded an altitude of over 17,000 feet (604 metres above launch altitude), possibility the highest in the recent history at such altitudes in Wari-La in Ladakh,» an official said.

Reserve Bank of India said on Friday group entities of banks shall not be used to circumvent guidelines applicable to the parent for carrying on business activities that are not otherwise permitted. RBI reviewed the current guidelines in public interest, in order to ring-fence the banks' core business from other risk-bearing non-core businesses and to provide level-playing field to all the banks, according to a draft circular. Indian laws permit banks to undertake various forms of businesses, in addition to the core business of banking.

electric vehicles, the EU executive said on Friday, even after the bloc's largest economy Germany rejected them, exposing a rift over its biggest trade row with Beijing in a decade. The proposed duties on Chinese-built EVs of up to 45% would cost carmakers billions of extra dollars to bring cars into the bloc and are set to be imposed from next month for five years. The Commission, which oversees the bloc's trade policy, has said they would counter what it sees as unfair Chinese subsidies after a year-long anti-subsidy investigation, but it also said on Friday it would continue talks with Beijing.

Cyril Amarchand Mangaldas has been dominating legal industry headlines. Last month, the firm hired a team of more than 50 capital markets lawyers led by nine partners from smaller rival practice IndusLaw, depleting the latter firm’s capital markets offering entirely. Over the past two weeks, it has continued to aggressively hire partners laterally from competitors such as Luthra and Luthra Law Offices, Trilegal and S&R Associates. More hires will be made shortly, CAM managing partner Cyril Shroff told Law.com International, adding that new partners would be brought in to the firm’s banking and finance, private equity and corporate practices.

Arbitration pros resist govt.'s advisory favouring mediation over arbitration The law ministry’s efforts to expedite the enforcement of arbitral awards are expected to significantly benefit the government, which is included as a party in a considerable number of arbitration proceedings. Law minister Arjun Ram Meghwal initiated thenational litigation policy in June soon after taking office.

Competition law practice at law firm Trilegal Nisha Kaur Uberoi is set to join law firm J Sagar Associates (JSA) along with her team of 25 attorneys including two partners Harshita Singh Parmar and Pranav Satyam. An alumnus of the National Law School of India University and the National University of Singapore Uberoi has also worked with firms such as AZB & Partners and Cyril Amarchand Mangaldas. “This move will greatly enhance and consolidate the firm’s existing domain in Competition Law, and further bolster our market-leading corporate and disputes practices,” said Amit Kapur and Vivek K. Chandy, joint managing partners at JSA in a joint statement. “The addition of Nisha and her team to our existing practice in JSA is a testament to our commitment to meeting the complex antitrust and competition needs of our clients globally.”

NEW DELHI : With the taxman coming under fire for filing late appeals, experts say there is an urgent need for a strong tax dispute resolution mechanism to simplify litigation and ensure timely closure of the cases. On 10 July, Chief Justice of India D.Y. Chandrachud rejected the income tax department's appeal against a Delhi high court order in favour of Xerox India because the plea was filed 215 days late.

SIM cards under your name can get you in trouble. You may have to pay a huge penalty if you have taken more SIM cards than what is specified by the telecom law. Violating the rule repeatedly can also land you in jail. It is important to know about the latest rules on how many SIM cards you can take and how to check them online. Read on

barred India's Tesla Power from publishing advertisements with a Tesla trademark, after Elon Musk-led Tesla Inc. sued the Gurugram-based company for using its trademark. Tesla Inc.

Mint that nobody has shown any interest in buying the stake, neither Tata Group nor Reliance Industries Ltd, with which Disney is merging its local unit Disney Star. “The fact is that Disney doesn’t want anything to do with the distribution business. That’s not their core, and they have been seeking an exit since they acquired the stake following the purchase of the Fox assets," said one of the persons on condition of anonymity.

bhidu" and Anil Kapoor for "jhakaas"—concerns are rising over the potential impact on creative freedom and expression. Bhidu is a colloquial Mumbai usage, and Marathi, for bro or dude, that's also come to be used as a nickname for Shroff.

Union IT minister Ashwini Vaishnaw had told ET last week that the government is looking at introducing such an AI law.

competition law provision to impose penalties based on a company's global turnover will act as a deterrent to more egregious violations, encourage entities to opt for commitments and settlements and help in faster corrective measures, according to experts. With the amendments coming into force, the Competition Commission of India (CCI) now has the power to impose a penalty of up to 10 per cent of a company's global turnover for competition law violations. The provision could have a larger impact on companies having multi-products or multi-services and also assumes significance as cases related to digital markets are being probed by the CCI. The watchdog will have the discretion on whether to impose penalties based on the global turnover or on the relevant turnover of a particular company that has violated competition norms.

—Name withheld on request

AU Small Finance Bank was the best small finance bank. The five-member jury comprised R. Doraiswamy, managing director, Life Insurance Corporation; Cyril Shroff, managing partner of law firm Cyril Amarchand Mangaldas; Keki Mistry, additional and non-executive (non-independent) director, HDFC Bank; Amish Mehta, managing director and chief executive, Crisil Ltd; and Nithya Easwaran, managing director, Multiples Alternate Asset Management Pvt.

Tips Industries, the producers of the film. However, when the producers refuted his allegations, Dagar moved court.

work-life balance in a post-pandemic world. Their preferred destinations: the UK, Dubai and Singapore. Improved airline connectivity and technology have made it convenient to travel and be in constant touch with colleagues and family in India, helping the transition. Key reasons stoking this trend include better infrastructure, quality of life, wealth preservation and growth. Many of these promoters told ET on the condition of anonymity that India is important as a growth market, but many countries outside offer ease of living. Having a professionally run business has helped promoters and their next generation focus on growing their operations and wealth, experts say.

Also read: Hindenburg Case: SEBI concealed 2014 DRI alert on Adani Group manipulations, says petitioner On 25 August, market regulator Sebi informed the Supreme Court that it had completed the probe in all but two allegations against the Adani Group, and is still awaiting information from five tax havens on the actual owners behind the foreign entities that have invested in the conglomerate. However, Anamika Jaiswal, one of the four petitioners said while the investigation against the Adani group was going on in the over-invoicing case, the Directorate of Revenue Intelligence (DRI) sent a letter to the then SEBI chairperson in 2014 alerting him that the group may be committing stock market manipulation using the money allegedly siphoned off using the modus operandi of over-valuation in the import of power equipment.