Generation of black money and its stashing abroad in tax havens and offshore financial centres have dominated discussions and debate in public fora during the last two years. Members of Parliament, the Supreme Court of India and the public at large have unequivocally expressed concern on the issue, particularly after some reports suggested estimates of such unaccounted wealth being held abroad. The Finance Minister, while responding to an adjournment motion on the ‘Situation Arising out of Money Deposited Illegally in Foreign Banks and Action Being Taken against the Guilty Persons’ in the Lok Sabha on 14 December 2011 gave an assurance that a white paper on black money would be prepared. This document is being presented to Parliament as a result.
Distribution of Provisional Login ID and Passwords as provided by the GST to the existing dealers for enabling them to Log-on the GST Common Portal for GST enrolment as per Model Goods and Services Act (Model GST Law).
I am talking about the reports and memes which say that you will have to pay almost 95% tax on the old cash you deposit in banks. Some in social media even interpreted that the 200% penalty is on the income, thus you need to pay more than your income.
The present restriction on Cash Withdrawals either from ATM or from the Bank Cash counter is to be relaxed immediately taking cognizance of the untold misery of the common man and the small business entities. As of now one can withdraw Rs. 10,000/- only from Bank on a day subject to an overall limit of Rs. 20,000/- per week
The ban of Rs.500/1000 note in India is creating havoc in the Indian markets. Everybody is either rushing towards banks or towards jeweler market to safeguard the black money.
Compensation agreement is an agreement between the private equity (PE) and the promoters, directors and Key Managerial Person (KMP) of the listed entities whereby the PE agrees to share an agreed proportion of the profits above a certain threshold limit made by them at the time of selling the shares
Article Discusses Assessment under Section 143(1)-Scrutiny Assessment, Section 144- Best Judgement Assessment and Section 147- Income Escaping Assessment of Income Tax Act, 1961.
The GST portal is user friendly, as on the front page state-wise schedule has been put out for enrolment of existing payers of excise duty, service tax and state taxes
GST is an Indirect tax reform and going to harmonize the indirect tax regime in India, minimizing the procedural and documentary compliance requirements, mitigating cascading effect of taxation
No investment shall be made or loan or guarantee or security given by the Company unless resolution sanctioning it passed at the meeting of the Board with the consent of all the directors present at the meeting.
