What actually happened in PNB scam? Let’s start from the concept. First, Let’s understand how things work. Some importer, let’s call him Nirav Modi or NM, wants to import pearls or diamonds and then sell them. The purchase requires money, so NM approaches a bank, say Punjab National Bank (PNB). PNB says look, I’ll give […]
Granting tax relief to Deloitte India, the Mumbai bench of the Income Tax Appellate Tribunal (ITAT) held that the provisions relating to Tax deduction at Source (TDS) are not applicable to the professional fee paid by them to its Group Entities in US and Singapore.
IBBI releases Discussion Paper on Discharge from Responsibility as Interim Resolution Professional, Resolution Professional or Liquidator of the Corporate Processes under the Code for comments
That the Commissioner (Appeals) has, in view of the facts and circumstances of the case, grossly erred on facts and in law in observing that the surrender made by the assessee is not in course of the statement recorded under section 132(4) and hence section 271 AAA benefit cannot be granted to the appellant.
Where an Individual or HUF has deposited or paid any amount as Fixed Deposit in any Scheduled Bank for a term not less than 5 Years in any previous year subject to Scheme framed by Central Government in this behalf then such Individual or HUF is eligible to claim deduction to the extent of Rs. 1,00, 000 (Rs1,50,000 from AY 2015-16 onwards) under section 80C for assessment year relevant to the previous year .
DEDUCTION U/s 80E -1. Conditions : Applicable to Individuals not to HUF Loan must be taken for Higher studies Loan must have been taken from approved financial and charitable institutions Only Interest is allowed as deduction Deduction is allowed only for 8 years from the date repayment not more than that
It is clarified that Service Providers like Steamer Agents, etc. shall be entitled for benefits under Service Exports from India Scheme for the services exclusively rendered by them and for which the foreign exchange earnings (or INR payments as allowed under the scheme) are received and retained by them on this account.
Do you know that buying an house can also provides you tax benefits Under section 80C of the Income Tax Act,1961? In this article we are discussing the Qualifying Amount, conditions, Limits subject to which we are eligible for deduction U/s. 80C for Investment in Residential House Property.
The Board has approved certain amendments to SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011. As part of the amendments, it has been decided to grant additional time for upward revision of open offer price till one working day before the commencement of the tendering period.
Customs Rate of Exchange of Foreign Currency Conversion wef 22.06.2018 notified vide Notification No. 55/2018-Customs (N.T.) dated the 22nd June, 2018.
