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Notification under regulation 3 of the Securities and Exchange Board of India (Certification of Associated Persons in the Securities Markets) Regulations, 2007.
Section 43B of the Income-tax Act, 1961 allows certain expenses on the basis of actual payment made within the stipulated time period, i.e. before the due date of filing return of income. In other words, deduction of such expenses is allowed in the year of actual payment and not in the year in which the liability to pay the same gets incurred. Following are the expenses which the said section covers by way of six clauses:
Assessing Officer has held that (a) Carbon Credit is not a capital receipt, (b) cost of acquisition of Carbon Credit is NIL & (c) entire receipt is taxable as capital gain. However, in the computation, it has been added as Business income.
Human Resources form a skeletal part of any business organization. There are various functions involved in HR, as a process. These include recruitment, payroll, statutory compliance, employee engagement and performance assessment in broad angles. Some of these functions are easier to handle while some require a lot of keen attention, accuracy and repeated investigation to […]
In the case before us, the legal heir was never impleaded or brought on record. The show cause notice for penalty was not issued, as legal heir of the deceased, and therefore, it cannot be said that non-mentioning of the name of the legal heir and writing of name of the deceased at the top
Expenditure incurred on soda ash project interest expenses and lab project interest was allowable and it was not pre-operative expenditure of interest by way of revenue expenditure as it was for an expansion of the existing business.
The Union Finance Minister Shri P. Chidambaram said that the restricting the import of gold helped in containing Current Account Deficit (CAD) and balance of payments’ position. Shri Chidambaram said that the restrictions on gold may be revisited at the end of the current fiscal.
The Supreme Court has upheld that order of the Bombay High Court and held that parking spaces cannot be sold by the builder. They are a part of the common areas and the cost of that land has to be charged to all the flat-owners in proportion to their carpet area.
In exercise of the powers conferred by sub-section (1) of section 25 of the Customs Act, 1962 (52 of 1962), the Central Government, on being satisfied that it is necessary in the public interest so to do
Taxation of income is a fiscal matter governed by the central legislation, ‘Flat’ is house property of a special kind, and the law applicable to Flat is embodied in the special State legislation. Flat is, in several respects, distinct from exclusively owned independent house property, which is governed by the general / common law called, the Transfer of Property Act, 1882.
