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Finance - After the merger of two big Telco’s namely Vodafone & Idea, the combined entity looked strong with over 35% market share in the wireless telecom market (being the largest player in the market in terms of market share). But the merger did not yield benefits to the combined as expected owing weak financial position of the combined entity ...
Read MoreCompany Law - Introduction A Limited Liability Partnership (LLP) is a corporate business form combining features of both Company and traditional partnership firms. It offers the benefits of a limited liability to the partners. The concept of LLP was emerged and got place in statutes in 2008 while the concept of private company is much older. LLPs offer...
Read MoreGoods and Services Tax - What triggered Section 129: Section 129 comes into picture when any person who is incharge of a conveyance carrying goods then under the provisions of Section 68 of CGST Act, 2017 the proper officer during the transit of the goods can ask for the inspection of goods and if the officers found out any discrepancy […]...
Read MoreFema / RBI - With the aim of diversifying the business abroad, Overseas direct investments (ODI) are undertaken as significant means for developing economies and emerging markets where companies need funding and expertise to expand their international sales. The importance of ODI can be accurately measured by the innumerable benefits like better econ...
Read MoreCorporate Law - Detailed analysis of changes brought in by ministry of corporate affairs in Schedule III of Companies Act 2013; dated 24th March 2021 – Balance Sheet Section 467 of the companies act 2013, gives powers to the central government to alter any of the regulations, rules, tables, forms, and other provisions contained in any of the [&hell...
Read MoreCA, CS, CMA - Results of the Chartered Accountants Intermediate Examination (Old course & New Course) held in January 2021 declared Examination Department The Institute of Chartered Accountants of India 26th March, 2021 Results of the Chartered Accountants Intermediate Examination (Old course & New Course) held in January 2021 declared. icaiexa...
Read MoreCA, CS, CMA - Performance Audit Report No. 16 of The Comptroller & Auditor General of India on ‘Assessment of Co-operative Societies and Co-operative Banks’ was laid on the floor of the Parliament here today. The PA was carried out from March 2019 to September 2019 and findings were discussed with the Central Board of Direct Taxes (CBDT) in July 20...
Read MoreCustom Duty - The Compliance Audit Report No. 17 of 2020 of the Comptroller and Auditor General of India on Department of Revenue - Customs and Director General of Foreign Trade under Ministry of Commerce and Industry, for the year ended 31 March 2019 was presented in Parliament here today....
Read MoreGoods and Services Tax - Absence of adequate controls, risk of claiming refund on unverified ITC and deficiencies in integration of GST Portal with the Indian Customs EDI Systems (ICES) application for IGST refund on export of goods resulted in following deficiencies in Refund module:...
Read MoreCA, CS, CMA - Part-I comprising of Chapters-1 and 2, covers audit findings of eight Government departments and contains nine paragraphs involving Rs. 192.47 crore relating to Management of Bank accounts, unfruitful expenditure, unauthorised payment of idle salary etc....
Read MoreIn re Manoj Mittal (GST AAR West Bengal) - In re Manoj Mittal (GST AAR West Bengal) Whether supply of food and beverages made by the applicant shall be treated as supply of goods or supply of services and whether supply of catering services to an educational institution is exempt supply? (i) Supply of food and beverages from the sweetmeats c...
Read MoreIn re NBCC (India) Limited (GST AAAR Odisha) - In re NBCC (India) Limited (GST AAAR Odisha) Under the Sl.No.3 of notification no. 11/2017-C.T. (Rate), it is clearly mentioned that, the service which is eligible for concessional rate of tax is composite supply of works. In the instant issue, when the Authority for Advance Ruling has allowed the c...
Read MoreSobha Developers Ltd. Vs DCIT (Karnataka High Court) - Sobha Developers Ltd. Vs DCIT (Karnataka High Court) From perusal of the relevant extract of Section 115JB, it is evident that Sub-Section (1) of Section 115JB provides the mode of computation of the total income of the assessee and tax payable on the assessee under Section 115JB of the Act. Sub-Sec...
Read MoreCommissioner of Commercial Taxes & Anr. Vs Ramco Cements Ltd.Etc. (Supreme Court of India) - Commissioner of Commercial Taxes & Anr. Vs Ramco Cements Ltd.Etc. (Supreme Court of India) 1. It is held that the respondents are liable to issue `C’ Forms in respect of the natural gas purchased by the petitioner from the Oil Companies in Gujarat and used in the generation or distribution...
Read MoreBYK Asia Pacific Pte. Limited Vs ACIT (ITAT Pune) - BYK Asia Pacific Pte. Limited Vs ACIT (ITAT Pune) On going through the documents/material as discussed above, it is evident that Seminar expenses, Training expenses, Printing expenses and Staff welfare expenses are amounts paid by the Indian BO to the Singapore HO, which satisfy the twin conditions ...
Read More(25/03/2021) - The period for installation and operationalisation of Radiation Portal Monitors and Container Scanners in the designated sea ports is extended upto 30.09.2021....
Read More(25/03/2021) - Transfer /transmission of shareholding in case of unlisted body corporate intermediary: In following scenarios, change in shareholding of the intermediary will not be construed as change in control:...
Read More(25/03/2021) - (1) This Act may be called the Medical Termination of Pregnancy (Amendment) Act, 2021. (2) It shall come into force on such date as the Central Government may, by notification in the Official Gazette, appoint....
Read More(25/03/2021) - (1) This Act may be called the Insurance (Amendment) Act, 2021. (2) It shall come into force on such date as the Central Government may, by notification in the Official Gazette, appoint....
Read More(25/03/2021) - The Central Board of Direct Taxes (CBDT) deferred the Tax Audit Clause 30C and 44 till 31st Mar 2022 due to COVID-19. F.No. 370142/9/2018-TPL Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes TPL Division New Delhi **** Circular No. 05/2021, Dated 25th Mar...
Read MoreAs we are approaching end of the financial year, there are certain tasks which we need to complete by 31st March 2021. Some of such task includes Submitting the details of sal...
Read MoreWhen the end of financial year is round the corner and the deadline of March 31 is hovering over the mind of individual taxpayers so that they can invest the minimum amount re...
Read MoreMy objective is to brief on existing capital gain tax structure on short term and long term transactions and to give 'To do list before March end' which helps to minimize the ...
Read MoreProposed Extension of date of incorporation for eligible start up for exemption and for investment in eligible start-up under Finance Bill 2021 The existing provisions of the ...
Read MoreExtension of date of sanction of loan for affordable residential house property under Union Budget 2021 The existing provision of the section 80EEA of the Act, inter alia, pro...
Read MoreIt is proposed to insert sub-section (1A) in the said section so as to provide for hundred per cent. deductions of the profits and gains derived from the business of developin...
Read MoreAuto Income Tax Calculator -All in 1 Tax calculator, Salary statement, Computation sheet with Form-16 for F.Y. – 2020-21 (A.Y.-2021-22) in old & New Regime Govt. has int...
Read MoreA home loan is one of the most popular ways for young homeowners to own homes. With the soaring costs of houses across the country, a home loan is the best way for people to b...
Read MoreThis Income Tax calculator is a very useful tool to calculate tax by using excel only. It contains the rate of Income tax for last 25 financial year (i.e Financial year 1997-9...
Read MoreIn this article, various TDS rates applicable for FY 2021-2022 (AY 2022-2023) i.e. for the period from 01.04.2021 to 31.03.2022 have been presented in Tabular Form along wit...
Read MoreWhat is TDS? Tax Deducted at Source (TDS) is a mechanism that has been introduced by the Income Tax Department. Under this, the responsible person is supposed to deduct a cert...
Read MoreDue to Covid-19, CBDT has reduced the TDS/TCS rate by 25% through press release dated 13/05/2020. However, No official notification is being released by CBDT till now for redu...
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