"07 May 2017" Archive

Authorizing Company Secretary For GSP (GSTN Suvidha Provider) under GST Regime

GSP means GSTN (Goods and Service Tax Network) Suvidha Provider which is considered to play a pivotal role in the roll out GST. It is also considered as the activator to the businesses for a paperless tax compliance regime and brings more ease in doing business....

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Mobilization advances cannot be treated as Loans & Advances and not subject to TP

DCIT Vs. M/s. Lanco Infratech Limited (ITAT Hyderabad)

GST Online Certification Course- Register before 1st July to Save Cost ITAT Hyderabad has held in the case of DCIT Vs. M/s. Lanco Infratech Limited held that Mobilisation/ trade advance has been wrongly treated as trade receivable. It is not to be subjected to TP. It cannot be re-characterised as receivables. Moreover, advances given as [...

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Concept of NGO and Income Tax Provisions

Trust, Society and Section 8 Company can seek registration u/s 12A to claim exemption under provisions of Income Tax Act’1961, if certain conditions are satisfied. Section 12A deals with registration of trust and section 12AA deals with procedure for registration of trust....

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Change in Valuation Method of Share – Sec.50CA / 56(2): Is it really a Big Mess!

There will be a change in Valuation Mechanism relating to valuation of unquoted equity shares for the purposes of section 56 and section 50CA of the Income-tax Act, 1961 as per Draft rules issued by CBDT....

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Some key features of Insolvency and Bankruptcy Code -2016

Insolvency and Bankruptcy Code -2016 amend the laws relating to reorganization and insolvency resolution of corporate persons, partnership firms and individuals in a time bound manner for maximization of value of assets of such persons,...

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Electronic Way Bill under GST – Draft Rules dt 13th April 2017

During the transition of Local Government General sales tax to State VAT and the subsequent initiatives of E Governance, similar to GST, many state Governments made various attempts. But they did not bring the desired result....

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Urban Transformation through Pathbreaking Reforms

GST Online Certification Course- Register before 1st July to Save Cost Vinod Behl The three- year term of Modi government is marked by its commitment of ensuring development for all through its progressive approach of ‘Reform, Perform & Transform’, putting an end to years of policy paralysis, through good governance. Fully...

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Law on NPAs to define way forward in tackling mounting bad loans

Though both the Reserve Bank of India (RBI) and the Government have been working to tackle the problem of mounting bad loans, the ordinance on non-performing assets (NPAs) approved by President Pranab Mukherjee will define the way forward in this regard, a top RBI official said at an ASSOCHAM event held in Mumbai today....

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