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Assessing Officer view in disallowing the depreciation which was claimed under Section 32 of the Act was that once the capital expenditure is treated as application of income for charitable purposes, the assessees had virtually enjoyed a 100 per cent write off of the cost of assets and, therefore, the grant of depreciation would amount to giving double benefit to the assessee.
Once plant commences operation and even if product is substantial and not marketable, the business can said to have been set up. Mere breakdown of machinery or technical snags that may have developed after the trial run which had interrupted the continuation of further production for a period of time cannot be held ground to deprive the assessee of the benefit of depreciation claimed.
E-WAY bill is required to generate when value of goods in a vehicle exceeds Rs. 50,000/- for transportation outside the state. E-WAY bill should be generated if goods move for following reasons:
The securitization trust has so far been treated as a pass through vehicle for tax purposes i.e. all the income of the securitization trust has been offered to tax by its investors (unless the investor is tax exempt viz., a mutual fund).
An Act to declare certain Institutes of management to be institutions of national importance with a view to empower these institutions to attain standards of global excellence in management, management research and allied areas of knowledge and to provide for certain other matters connected therewith or incidental thereto.
(1) These regulations may be called the Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for Corporate Persons) (Fourth Amendment) Regulations, 2017. (2) They shall come into force on the date of their publication in the Official Gazette.
(1) These regulations may be called the Insolvency and Bankruptcy Board of India (Fast Track Insolvency Resolution Process for Corporate Persons) (Fourth Amendment) Regulations, 2017. (2) They shall come into force on the date of their publication in the Officia
When a person dies unwilled, then The Hindu Succession Act, 1956 applies for division of wealth. This law applies to Hindus, Jains, Buddhists and Sikhs. Money is so powerful that relation doesn’t take time to break. Family members can really fight over the issue of who gets how much out of the wealth and a lot of times unexpected things happen. Even people you never thought can suddenly appear claiming their share in the wealth.
Procedure to be followed for the purposes of the Condonation of Delay Scheme, 2018:- A. IN THE CASE OF DEFAULTING COMPANIES WHOSE NAMES HAVE NOT BEEN REMOVED FROM REGISTER OF COMPANIES:-
Balance in the cash ledger should be sufficient File RFD- 01 A and select the reason of Refund as Refund on account of excess balance in cash ledger.
