The concern of the industry that KKC shall be levied on the opening debtors i.e. remaining unpaid as on 31.03.2016 has been duly answered and no KKC shall be levied on such amounts. Though the notification is effective from 23.6.2016, payments of opening debtors as received between 01.6.2016 and 22.6.2016 can still be a cause of litigation
Determining obligations and privileges under the Companies Act, 2013 is a significant but tedious task and in this articles we have made an attempt to explain in easy manner Criteria based obligations and privileges under Companies Act, 2013.
Section 139 (4) further provides that “Any person who has not furnished a return within the time allowed to him under sub-section (1), or within the time allowed under a notice issued under sub-section (1) of section 142, may furnish the return for any previous year at any time before the expiry of one year from the end of the relevant assessment year or before the completion of the assessment, whichever is earlier.
Section 9 says about taxable person, if Supply exceeds Rs.10 Lacs except in North East states including Sikkim where threshold limit is 5 Lacs a) Person registered under GST may only claim ITC
Any unabsorbed depreciation available to an assessee on 1st day of April 2002 (A. Y. 2002-03) will be dealt with in accordance with the provisions of section 32(2) as amended by Finance Act, 2001. And once the Circular No. 14 of 2001 clarified that the restriction of 8 years for carry forward
