Hitesh Juneja and Associates

Hitesh Juneja and Associates CA firm specializing in Taxation, Corporate Law & Restructuring, Mergers and Acquisitions, RBI – FEMA, Start-up Expertise as per Prime Minister Yojana

This page is solely meant for the purpose of information and not for the purpose of advertising. Hitesh Juneja and Associates does not intend to solicit clients through this page. We do not take responsibility for decisions taken by the reader solely on the information provided in the page. The reader acknowledges that the information provided in the page (A) does not amount to advertising or solicitation and (b) is meant only for his/her understanding about our activates and who we are.

21/05/2025

Supreme Court says Employment Bonds are LEGIT — No, It’s Not a Trap, if done right 🧑‍⚖️

In a major judgment (Vijaya Bank vs. Prashant Narnaware – May 2025), the Supreme Court of India upheld the validity of employment bonds, stating:

📌 3-Year Service Clause + ₹2 Lakh Exit Penalty?
✅ NOT a restraint of trade.
✅ NOT against public policy when aimed at reducing attrition and maintaining efficiency, especially in public sector organizations..
✅ Valid if it's during employment and fairly structured.

💭 If you’re signing that bond — read it twice. If you’re drafting one — make it fair.

📌 The Court emphasized:

“Clauses operating during employment are enforceable — what matters is fairness, not just form.”

24/07/2024

The Ministry of Corporate Affairs (MCA) has mandated all companies to disclose information on payments made or overdue to medium and small enterprises (MSEs) on a half-yearly basis.

According to the latest notification as attached herewith, the new Micro, Small and Medium Enterprise-1 (MSME-1) form on MCA V3 must be submitted by all companies dealing with MSEs. This requirement applies irrespective of whether they have payments overdue for more than 45 days to any such supplier.

The new MSME-1 form requires the following information:

Amount paid within 45 days
Amount paid after 45 days
Mode of payment
Amount outstanding for 45 days or less
Amount outstanding for more than 45 days
Reason for delay in payment/amount outstanding

15/01/2024

The Supreme Court affirms the significance of the 'group of companies' doctrine in Indian arbitration law, allowing arbitration agreements to bind non-signatories. The doctrine remains integral for enforcing arbitration agreements within corporate groups.

Important......The printing shall be on both the sides
26/10/2022

Important......
The printing shall be on both the sides

09/04/2022

Department of Revenue (CBDT), Ministry of Finance vide its Notification dated August 31, 2021 had declared that contribution to Provident Fund in excess of Rs. 2.5 lakhs will be taxable. Employees Provident Fund Organisation (EPFO) vide its Circular dated April 5, 2022 has issued a detailed clarification and guideline. The instant Circular is comprehensive and provides illustrations and FAQs in order to provide clarity on the issue.

20/01/2022

The Delhi High Court has reiterated that unilateral appointment of an arbitrator by a party is impermissible in law and such appointment has to be made with the consensus of the parties involved or by the Court [Envirad Projects Private Limited v. NTPC Limited].

11/01/2022

Period from 15.03.2020 to 28.02.2022 shall be excluded while calculating limitation : Supreme Court.

25/12/2021

In a landmark judgment, divisional bench of Rajasthan High Court has held that complaints against banks can be filed before the Real Estate Regulatory Authority (RERA) if lending banks has taken the possession of a project as a secured creditor, pursuant to the default of the promoter in paying the loan.

The court also held that in event of conflict between the RERA Act and the recovery proceedings of the bank under Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest (SARFAESI) Act, RERA Act would prevail.

22/07/2021

*RWAs to charge tax only on contribution exceeding INR 7,500/- from its members*

Recently, Hon’ble High Court of Madras in the case of *Greenwood Owners Association Vs. Union of India 2021-TIOL-1505-HC-MAD-GST* has put an end to a contentious issue of charging GST on amount charged by RWAs from their members as contribution towards any goods or services to be obtained from third person for the common use of members of RWA.

GST law has given exemption on amount charged by RWA from its member *up to* INR 7,500/- per month per member. However, there is ambiguity in the law that whether tax would be charged on entire amount if contribution exceeds INR 7,500/- or only on balancing amount over and above INR 7,500/-.

Earlier, Government has clarified vide Circular No 109/28/2019 – GST dated 22 July 2019 that GST would be charged on entire amount if amount of contribution exceeds aforesaid limit which has created chaos amongst taxpayers.

Madras High Court has now held that intention of the law is very clear that GST will not be levied on amount collected from members up to INR 7,500/- and thus, contribution to RWA only in excess of INR 7,500/- would be taxable under GST.

03/07/2021

Respected Users,

Kindly note that all TDS/TCS returns filed at New ITD portal before 3rd July,2021
*has been rejected due to incorrect version (5.1) mentioned at ITD website.*

ITD has now corrected the version to 7.1
Kindly efile your tds/tcs returns again at ITD portal.

You may ignore this if you have efiled your TDS/TCS returns at NSDL-TIN FC.

17/04/2021

In light of the current situation, monday onwards we are operating from home..in case of any work and/or query, kindly reach out on our dedicated number/email address as the office is closed till further notice.
Thanks for your support.

Regards
CA Hitesh Juneja
Hitesh Juneja and Associates

16/04/2021

Supreme Court sets aside NCLAT’s Ruling...
Balance sheets can amount to Acknowledgment of Debts under Section 18 of Limitation Act.

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