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On daily basis all of us come across shops in our localities which would not issue proper bills or use simple paper to issue bills in case some one asks for it and transact business mostly on cash. They don’t carry any account books or detailed records in respect of their stocks and sale.
Every Indian Company who receives FDI (Foreign Direct Investment) needs to report such FDI inflow to Reserve bank of India. Therefore this is my attempt to clarify the procedure regarding report of FDI to RBI.
ITR is to be filed by filing the forms provided by Income Tax Department for this purpose. There are currently nine ITR forms provided by the department for different assessees. The different types of ITR forms released are based on different types of persons (Individual, H.U.F., Firm, Company etc.) and the various sources from which income can be earned (Salary, Capital Gains, Business & Profession etc.).
Section 425 to Section 520 of the Companies Act, 1956 (Act, 1956) read with Companies Court Rule, 1959, deals with the provisions of winding up. Since the provisions of the Companies Act, 2013 has not yet come into force, the provisions of the Companies Act, 1956 still governs the proceedings of winding up.
Undisputedly the AO has not made assessment on the basis of incriminating material unearthed during search and seizure operation conducted u/s 132 rather proceeded u/s 153A of the Act on the basis of some pre-search enquiries to make an addition
The nature of services rendered by the subsidiaries to the assessee were in respect of simple marketing services of introducing foreign institutional investors to invest in capital markets in India so that the assessee would improve its business in India.
The Commissioner by an order dated 15.3.2000 allowed some of the grounds of appeal. Thus, the order of the Assessing Officer stood merged with the order of Commissioner (Appeals) and had no independent existence of its own and as such the assessment could not have been reopened in respect of the said items.
Are you all set to enter your life’s new and most exciting phase, ‘the college’? College is an exhilarating period in almost every student’s life. This may sometimes let many of us move away from our home, and take up some very important decisions for ourselves. This will also include making a lot of financial […]
Damodar Valley Corporation Vs. Dy. CIT (ITAT Kolkata) We find that on perusal of section 32(1)(iia) of the Act as it stood upto assessment year 2012-13, it is evident that the additional depreciation is permissible to all assessees who are engaged in the business of manufacture or production of any article or thing. In the […]
1. Mobile Application-Mobile Application for NPS is now available to the Subscriber’s in ‘Google Play Store’ as ‘NPS by NSDL e-Gov’ for installation and use. 2. Change of address using Aadhaar authentication 3. Scheme Preference change facility 4. Tier II activation through eNPS
