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Company Law - Corporate Social Responsibility (CSR) is a concept whereby organizations consider the interest of society by taking responsibility for the impact of their activities on customers, suppliers, employees, shareholders, communities, and other stakeholders as well as the environment. Nowadays’ companies adopt CSR for various benefits like: 1...
Read MoreIncome Tax - Section 2(15) of the Income Tax Act, 1961, explain about ‘Charitable Purpose’ Which purposes are to be considered as Charitable Purpose? It includes the following; -Relief of the poor, -Education, ( Yoga ), -Medical Relief, -Preservation of environment ( including watersheds, forest and wildlife), -Preservation of monuments or...
Read MoreCorporate Law - A Trade Mark granted to a person can be given to another one dealing in a different class of goods/services – High Court of Kerala The Hon’ble High Court of Kerala in Kunhi Muhammed Etayattil Vs. the Assistant Registrar of Companies & Anr (WP [C] No. 3057 of 2021 dated: 07.04.2021) held that it is […]...
Read MoreCompany Law - Thus, CSR is one of the primary means of achieving the goal of sustainable development for all nations today. The Brundtland report highlighted three key components of sustainable development, environment and economy and society. A number of important sustainable development proposals have also been highlighted and SD and CSR initiatives ...
Read MoreCompany Law - Pursuant to section 153 of the Companies Act, 2013 and rule 11 of the Companies (Appointment and Qualification of Directors) Rules, 2014 Article explains Why to Surrender DIN, Occasions in Which Surrender of DIN is Required (Reasons of Surrender), Which DIN is to be retained & Surrender, Procedure of Surrender of DIN and Attachments w...
Read MoreSEBI - Securities and Exchange Board of India Consultation Paper on ‘Review of the regulatory framework of promoter, promoter group and group companies as per Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2018’ I. Objective 1) The objective of this consultation paper is to seek com...
Read MoreCorporate Law - IMA is astonished to see the extreme lethargy and inappropriate actions from the Ministry of health in combating the agonizing crisis born out of the devastating second wave of the COVID-19 Pandemic. The collective consciousness, proactive cognizance, and requests made by IMA and other professional learned colleagues are put into the dust...
Read MoreSEBI - Segregation of client collateral refers to the procedures that enable identification and protection of client collateral from- (i) misappropriation/ misuse by Trading Member (TM)/ Clearing Member (CM) and (ii) default of TM/CM and/or other In the past, there have been instances of misuse of client collateral by TM/CM....
Read MoreCorporate Law - In the present FIR, the police have seized the 12 Oxygen Concentrators. No useful purpose would be solved to retain the Oxygen Concentrators in the police Malkhana and the same should be circulated back for the use of needy patients....
Read MoreGoods and Services Tax - I have been particularly persuaded to write this letter because there has been no meeting of the GST Council for the last six months even though Council's own Rules drafted in terms of Article 279A of the Constitution provide for holding at least one meeting every quarter....
Read MoreGurcharan Singh Vs Ministry of Finance (Delhi High Court) - Gurcharan Singh Vs Ministry of Finance (Delhi High Court) 1. It is pleaded to extend the exemption, to even individuals, to enable them to obtain imported oxygen concentrators by way of a gift, albeit, without having to pay IGST. 2. That tax is an exaction by the State is well known. That its levy a...
Read MorePrestige Estates Projects Ltd. Vs ACIT (ITAT Bangalore) - Prestige Estates Projects Ltd. Vs ACIT (ITAT Bangalore) In our opinion, even if it is advance payment, it is not linked to the transfer of immovable property as enumerated in Section 194-IA of the Act, since the condition laid down in Section 2(47)(v) of the Act was not complied with within the mean...
Read MoreAntony Alphonse Kevin Alphonse Vs ITO (Madras High Court) - Antony Alphonse Kevin Alphonse Vs ITO (Madras High Court) 1. The impugned order has been passed before the time prescribed for filing the reply. 2. The impugned order has been passed with pre-set mind and without considering the reply received from the petitioner. 3. There is a manifest violation o...
Read MoreAncon Chemplast P. Ltd. Vs ITO (ITAT Delhi) - Merely because the some Directors did not appear in the case of assessee would not be a ground to have an adverse inference against the assessee, therefore, there was no justification to sustain the addition of Rs.45 lakhs under section 68 and addition of Rs.90,000/- under section 69C....
Read MoreCIT Vs Texas Instruments India Pvt. Ltd. (Karnataka High Court) - Neither Section 194-C nor 194-I of the Act would be applicable to the lease financing of motor vehicles; thus there could have been no disallowance on the ground that there was no tax deduction at source made by the Assessee....
Read More(10/05/2021) - CBDT issues Corrigendum to Notification No. 56/2021-Income Tax Dated: 7th May, 2021 and stated that word ‘payee ‘to be read as payer. Notification No. 59/2021-Income Tax Dated: 10th May, 2021 MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF DIRECT TAXES) CORRIGENDUM New ...
Read More(10/05/2021) - CBDT amends Notification No. 35/2021-Income Tax dated the 22nd April, 2021 and stated that the word ‘Canada Pension Plan Investment Board Private Holdings (4) Inc.’ should be read as ‘CPP Investment Board Private Holdings (4) Inc.’ Notification No. 58/2021-Income Tax Dated:...
Read More(10/05/2021) - CBDT amends Notification No. 54/2021-Income Tax dated the 5th May, 2021 and stated that the word ‘Stretford Investment Pte. Ltd.’ should be read as ‘Stretford End Investment Pte. Ltd.’ Notification No. 57/2021-Income Tax Dated: 10th May, 2021. MINISTRY OF FINANCE (Departmen...
Read More(29/04/2021) - Delhi- Updated Oxygen Refillers List & Locations for Oxygen cylinders for individuals based on doctor’s prescription Updated list of Oxygen Refillers for Delhi which contains Name of the Oxygen Refiller, Phone Number and Address of Oxygen Refillers as released by Delhi Government on 29th...
Read More(09/05/2021) - M/s Gautam Gambhir Foundation, shall import covid relief supply free of cost for free distribution in India as per details in the Annexure (attached), at Delhi Air Cargo Customs Station. Exemption from IGST is recommended for such imports by M/s Gautam Gambhir Foundation under the said adhoc exempti...
Read MoreTax planning is a part of financial planning Though it is difficult to avoid taxes, you can strategies to reduce the tax outgo efficiently Two Important Steps 1) To choose bet...
Read MoreTax Planning while setting up of a business with reference to Nature of business related with A.Y 2021-2022 and A.Y 2022-2023 – An analysis of Six important Deductions a...
Read MoreI hereby want to summarize details regarding Tax Planning while setting up of a business with reference to location related with A.Y 2021-2022 and A.Y 2022-2023.You will get t...
Read MoreChapter VI-A contains deductions from Gross Total Income. It is to be noted that if there is no Gross total Income than no deduction will be permissible. That means maximum de...
Read MoreWho doesn’t want to save tax? So, in this article we are discussing about how a salaried Individual can save tax through tax planning. Salaried Individuals have comparativel...
Read MoreTax Incentive to Business / Service sector/ Industry on salary of new employees On Salary of Rs. 100/- avail tax benefit on Rs. 190/- :- Any business / service sector/ manufac...
Read MoreThis is an Excel based TDS Calculator for the FY 2021-22 and onwards. We can use this Excel Utility for Calculating TDS Amount, for Remitting TDS Amount to Govt and for e-fili...
Read MoreOn March 31, 2021, the Ministry of Finance released a notification on slashing the interest rates of all the Small Saving Schemes, and the same notification rolled back by the...
Read MoreIncome Tax Calculator for the Financial Year 2020-21 for Both Regimes in Excel for Salaried Individuals in India-Ver 20.01 This excel based simple and user friendly Income Tax...
Read MoreTDS rates for FY 2021-22 (AY 2022-21) considering amendments made by Finance Act, 2021 are as follows: Tax Deducted at Source (TDS) Rates applicable from 1st April, 2021 Tax D...
Read MoreMaharashtra Government has presented its Additional Budget on 05th June 2014 through its Deputy Chief Minister And Finance Minister Shri Ajit Pawar in his Budget FM has increa...
Read MoreIncome Tax Rates for A.Y. 2021-22 or Financial Year 2020-21 (For Company, Co-Operative Society and Local Authority) (A) COMPANY- The tax rates as applicable are as under Domes...
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