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Archive: 03 August 2016

Posts in 03 August 2016

Join 10 days Online GST Certificate Course (Litigation Series) from Aug 6th, 2024

July 29, 2024 16758 Views 0 comment Print

ACAE in association with IDTPF, STAR and TAXGURU announces its most awaited GST CERTIFICATE COURSE. This year’s course is on litigation and is titled LITIGATION SERIES. The Course will be held online on ZOOM from Aug 6th, 2024 to Aug 17th, 2024 (except 11th Aug and 15th Aug) from 5 PM to 7 PM. The […]

Live Course on 360 degree Analysis of Input Tax Credit from a Litigation Perspective

July 18, 2024 6561 Views 0 comment Print

Join CA Sachin Jain for a live course on Input Tax Credit from a litigation perspective. Gain practical insights and master ITC complexities. Register now!

Corporate Social Responsibility

August 3, 2016 25459 Views 0 comment Print

Since the Ministry of Corporate Affairs is keen to move its attitude towards social development, they inserted a welcome provision of “CORPORATE SOCIAL RESPONSIBILITY” wide section no. 135 in new companies act, 2013.

Similarly placed land outstees should be treated equally for rehabilitation/ employment as per policy on the date of taking over possession

August 3, 2016 579 Views 0 comment Print

it would manifest that there has not only been wrong with the petitioner but he was discriminated in the matter of application of pre-amended 1991 policy of rehabilitation. For such denial, the respondent/SECL is taking shelter of its own wrong by continuing to remain in occupation of the petitioner’s land from 1994 without paying compensation till 2006 when repeated efforts of the petitioner compelled the respondents to initiate land acquisition proceeding and determine compensation.

Don’t Bargain Under These Circumstances

August 3, 2016 20011 Views 0 comment Print

Bargain means a method to strike a deal or settlement through an interaction involving two or more persons. It’s a negotiation made to arrive at a mutual answer or agreement. Bargain is very popular among the business communities for generating profits. However, it is very common in daily life.

Draft Real states rules: Timely delivery is essence of Agreement

August 3, 2016 20299 Views 0 comment Print

Timely completion of the project and timely delivery of the apartment or plot to the allottee by the promoter is the essence of the Agreement to be signed between the promoter and alottee under the Real Estate (Development & Regulation) Act,

ITAT explains taxation of real estate construction contracts (AS-7 & AS-9)

August 3, 2016 17727 Views 0 comment Print

Ashoka Hi-Tech Builders Pvt. Ltd Vs DCIT (ITAT Indore) In this Case ITAT Indore explains Entire law on taxation of real estate construction contracts  in the context of ‘completed contract’ vs. ‘percentage completion’ with reference to Accounting Standards AS-7 and AS-9 and all important judgements on the issue. ITAT further explained Provisions of S. Section […]

Compensatory Afforestation Fund Act, 2016

August 3, 2016 19976 Views 0 comment Print

An Act to provide for the establishment of funds under the public accounts of India and the public accounts of each State and crediting thereto the monies received from the user agencies towards compensatory afforestation, additional compensatory afforestation, penal compensatory afforestation

7 less-known facts about financial planning

August 3, 2016 20413 Views 0 comment Print

Money and math are the two very common concepts that most people will relate to the process of financial management. But managing money involves a lot more. Traditionally financial planning was all about securing one’s future, or saving for the retirement, but let us now observe a

Reg. Issuance of rupee bonds to overseas investors by Indian companies

August 3, 2016 19972 Views 0 comment Print

The Ministry has received references from stakeholders seeking clarity on applicability of provisions of Chapter III of the Companies Act. 2013 (Act) and rule 18 of Companies (Share Capital and Debenture) Rules. 2014 to the issue of rupee bonds by Indian companies exclusively to persons resident outside India in accordance with applicable sectoral regulatory provisions.

Recognition of income on accrual basis to be considered from view point of a prudent assessee

August 3, 2016 20467 Views 0 comment Print

The Hon’ble Bombay High Court in the above cited case held that even in mercantile system of accounting an item would be regarded as accrued income only if there is certainty of receiving it and not when it has been waived. Earning of the income, whether actual or notional, has to be seen from the viewpoint of a prudent assessee.

Goods and Services Tax – Overview of Model Law Released in June 2016

August 3, 2016 20948 Views 0 comment Print

One subject which has been in the news in the last few years on the taxation front has been implementation of the Goods and Services Tax law. While the law should ideally have been introduced six years ago it has been pending implementation for various reasons with major

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