Section 50C of Income Tax Act, 1961 is not applicable while computing capital gains on transfer of leasehold rights in land and buildings.
Foreign exchange fluctuation loss cannot be called notional loss since the fall in the exchange rate has already taken place in the accounting year. Accounting Standards-11 provides that the entire amount of liabilities outstanding as at the balance sheet date should be restated and the loss should be charged to the Profit and Loss account of each year.
The Institute of Chartered Accountants has made the instant Reference under Section 21(5) of the Chartered Accountants Act, 1949 in respect of the respondent being indicted for a misconduct other than such misconduct which is referred to in sub-Section (4) of Section 21.
Aadhaar mandatory for Support to Training and Employment Programme (STEP) Scheme for women.In order to provide convenient and hassle free benefits to the beneficiaries under the Scheme, the Implementing Agencies receiving grants from the Ministry under the Scheme shall make all required arrangements on behalf of the Ministry
In a big relied to Baba Ramdev’s Patanjali Yogpeeth, the Delhi bench of Income Tax Appellate Tribunal (ITAT) has allowed exemption status under section 11 and 12 of the Income Tax Act.
Whole issue in the present appeal by Revenue, is about the source, nature and genuineness of the transaction to determine whether the addition made by the AO under section 68 of the Act is sustainable.
While presenting budget 2017, there were several amendments proposed by Finance Minister Mr. Arun Jaitley with respect to Taxation of Charitable Trust
Article Discusses Related Party Transactions under Companies Act, 2013 and SEBI LODR Regulations, 2015. It Explains who is Related Party, What is a related party transaction, Related Party Transaction requiring Audit Committee Approval, Related Party Transaction requiring Board/Shareholders’ Approval and Related Party Transactions which are not in Ordinary Course of Business and Arm’s Length Basis.
The IT Department issued online intimations for verification of cash deposits during demonetization to nearly 18 lakh taxpayers of which about 9 lakh submitted response for verification of cash deposits during demonetization.
MSMEs, you are the power house of the India’s economy. Feel proud of it. The government recognizes your importance and hence, promotes you, provides you enormous benefits. Udyog Aadhaar is a valuable present that the government has provided for small and medium businesses.
