The income tax department is bound to accept the authenticity of the accounts certified by the auditor and maintained in accordance with the provisions of the Companies Act, the Supreme Court has ruled.
circular is being issued in exercise of powers conferred by sub-section (1) of section 11 of the Securities and Exchange Board of India Act, 1992, to protect the interests of investors in securities and to promote the development of, and to regulate the securities market.
will format, will by disabled person in favour of wife & daughter , revocation of will , simple will giving property to wife , will for religious and charity , simple will , complicated will , lease deed formats, lease of house on monthly tenancy , lease deed of land , agreement, deed, bond, indemnity bond with surety to ito , indemnity bond to ito , deed substituting a trustee , bank guarantee , manufacturer and sole selling agents with canvassing rights , appointment of sole selling agents by a foreign company , agreement between a manufacturer and selling agent , agreement between builder and a broker , appointment of distributor for a district,
Since this appears to be the first case of its kind in India (subject to correction) where derivatives contracts are challenged as illegal and void and also since the jargon is not too familiar even to P.Ramanatha Iyer (of Law Lexicon) and Black (of Law Dictionary), a brief prelude has become necessary before we plunge into details.
No disallowance under sub-section (3) of section 40A shall be made and no payment shall be deemed to be the profits and gains of business or profession under sub-section ( 3A ) of section 40A where a payment or aggregate of payments made to a person in a day, otherwise than by an account payee cheque drawn on a bank or account payee bank draft, exceeds twenty thousand rupees in the cases and circumstances specified hereunder, namely:-
Accounting regulator ICAI has started working with investigating agencies under the home ministry and the finance ministry to help them track down the flow of unaccounted money in the economy.
In exercise of the powers conferred by Section 5 read with Section 3(2) of the Foreign Trade (Development & Regulation) Act, 1992 (No.22 of 1992) and also read with Para 1.3 and Para 2.1 of the Foreign Trade Policy, 2004-2009, the Central Government hereby makes following amendments to Notification No.93(RE-2007)/2004-2009 dated 1st April, 2008.
In exercise of powers conferred under paragraph 2.4 of the Foreign Trade Policy 2004-09, Director General of Foreign Trade hereby makes the following amendment in the Handbook of Procedures.
section 80IA of the Act was restructured into two new distinct sections namely, 80IA and 80IB. The amended provisions extended the benefits to certain sectors. Under section 80IA of the Act profits of approved housing projects where development and construction commenced after 1-10-1998 and completed before 31-3-2001 were fully deductible.
A suitable Public Notice and Standing Order may be issued for the guidance of the staff and trade. Difficulties faced, if any, in implementation of the Circular may please be brought to the notice of the Board at the earliest.
