occasions

Please explain sale in course of import by transfer of documents of title to goods before the goods crosses Custom Frontiers of India ((High Seas Sale) with special reference to when the goods crosses Custom Frontiers of India. A dealer in Maharashtra wants to effect sale in course of import by transfer of documents of title to goods when the goods are in bonded warehouse. Whether the claim will be admissible ? Full Article

From now on, when you get a gift in kind, valued at more than Rs. 50,000, from your parents or other relatives, make sure you have a sworn affidavit declaring the donor your kin.The Central Board of Direct Taxes has ruled that any such gift will be taxable for the donee unless it is from relatives or given during occasions such as marriage or by way of inheritance. Full Article