Central Government hereby notifies that where the variation between the arm’s length price determined under section 92C of the Act and the price at which the international transaction or specified domestic transaction has actually been undertaken does not exceed one per cent of the latter in respect of wholesale trading and three per cent. of the latter in all other cases
This article summarises the amendment brought in Section 10(38) of the Income Tax Act, 1961, the exemptions provided under the section through notification issued by the central government and discusses few situations where exemption may not be available.
Areas within the limits of following revenue districts of the States of Uttar Pradesh and Uttarakhand: (i) Lucknow (ii) Barabanki (iii) Basti (iv) Faizabad (v) Gonda
Concept of Composition levy is prevailing under the current Central Excise as well as under the State VAT Laws. The same has been continued under the new GST regime but with various changes which are discussed in this article.
Prabhakar K S [Ilaya Azwan] The Central Board Of Direct Taxes (CBDT) Vide Notification No. 46/2017 Date 7th June, 2017 Notifies Revised List Of ‘Eligible International Transactions’ For Transfer Pricing Safe Harbour Rules. Sl. No. Eligible International Transactions Circumstances 01 Software Development Services Operating Profit Margin declared by the eligible assessee from the EIT in […]
Registration under Central Goods & Service Tax Act (CGST Act) is governed by the provisions of section 22 and 24. Section 22 deals with the registration of suppliers of goods and/or services who are doing a sizeable business in a financial year.
The Union Minister of Finance, Defence and Corporate Affairs, Shri Arun Jaitley has thanked all the political parties for their cooperation and contribution in making the launch of Goods and Services Tax (GST) possible with effect from 1st July, 2017. In a letter addressed to the Presidents of the different political parties, the Finance Minister Shri Jaitley said that with the cooperation of all the political parties, the 101st Constitutional Amendment Act for Goods and Services Tax (GST) was passed by the Parliament and the same was notified on 8th September, 2016. The Finance Minister said that three laws viz GST, IGST and UTGST have already been passed by the Union Parliament while the SGST law has been passed by the 25 State Legislatures.
ICAI members enrolled as Insolvency Professional under the Insolvency and Bankruptcy Code, 2016 can render services under the said Code either individually or as an entity.
On June 7th, 2017 the government of India notified the amended Safe harbor rules. The amendments in the safe harbor rules are summarized below
The early stage of earning life has some of the most difficult investment decisions to make. Juggling between current needs, household purchases and long term goals can be quite confusing, and the struggle can be tiresome. Many do decide to overlook the long-term goals and focus only on current needs.
