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Archive: 01 July 2018

Posts in 01 July 2018

Personal Loan Benefits for Education to Individuals in 30% Tax Bracket

July 1, 2018 4054 Views 2 comments Print

Pursuing higher education is a dream for many. Many people wish to pursue their further education through a masters or a doctorate program. Some may choose to study within the country, while some may enroll at a university outside the country.

Section 281: TRO cannot declare Transfer of Property void

July 1, 2018 12936 Views 0 comment Print

M/s. Agasthiya Holdings Private Limited Vs CIT (Madras High Court) In Tax Recovery Officer Vs. Gangadhar Viswanath Ranade (Decd.,) reported in AIR 1999 SC 427, the scope of Section 281 of the Income Tax Act and Rule 11 of the Second Schedule came up for  consideration. The question arose for consideration before the Honourable Supreme […]

New SEBI Regulations on Age of Director

July 1, 2018 8523 Views 0 comment Print

ANY NON-EXECUTIVE INDEPENDENT DIRECTOR OF A LISTED COMPANY OF 75 YEARS OR ABOVE AGE NEEDS SHAREHOLDERS APPROVAL TO CONTINUE

Treatment of Duty Free Entitlement (Govt. Assistant) under Income Tax and IndAS

July 1, 2018 1950 Views 0 comment Print

Implication under Ind AS Government grants are assistance by government in the form of transfers of resources to an entity in return for past or future compliance with certain conditions relating to the operating activities of the entity. Treatment of Grants related to Income Government grants, including non-monetary grants at fair value, shall not be […]

Taxation on Redemption of Preference Shares

July 1, 2018 47829 Views 0 comment Print

Provisions relating to tax on distributed income of domestic company for buy-back of shares Tax on distributed income to shareholders [section 115QA) In addition to the income-tax chargeable in respect of the total income of a domestic company for any assessment year, any amount of distributed income by the company on buy-back of shares (not […]

Procedure after Filling GST Registration Cancellation Application – Reg-16

July 1, 2018 3984 Views 0 comment Print

Its been 1 Year since implementation of GST in India. In this article we will discuss about the procedure to be followed after filing application for Cancellation of GST Registration i.e. REG-16.

Taxability on Withdrawal of Accumulated Balance of Recognized Provident Fund

July 1, 2018 56877 Views 8 comments Print

Employee’s Provident Fund (EPF) is a welfare scheme for the benefit of the employees. It is a corpus built by an employee and employer by way of monthly contributions. The interest is also regularly credited to the provident fund account. At present, the EPF Interest Rate is 8.55% on contributions made by the employer and the employee.

GST Day – What is there to celebrate?

July 1, 2018 1128 Views 0 comment Print

It is learnt that preparations are underway to celebrate GST day on 01.07.2018. I wish to bring to your attention, the alienation felt by the cadre of Superintendents of Central Excise to any such celebrations.

Place of Effective Management (POEM) -Applicable from A.Y. 2018-19

July 1, 2018 20391 Views 3 comments Print

As the name suggests, Place of Effective Management means place where key management and commercial decisions that are necessary for the conduct of the business of the entity as a whole are, in substance made. It is introduced in the budget 2015 by Arun Jaitley (Finance Minister), but due to lack of guiding principles, its applicability is deferred from A/Y 2016-17 to A/Y 2018-19.

Decoding Income Tax Return Forms (A.Y 2018-19)

July 1, 2018 4758 Views 3 comments Print

Demystify Income Tax Return Forms (A.Y 2018-19) and understand how to file your taxes accurately and efficiently.

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