"July, 2018" Archive - Page 5

Making of the Insolvency Professional

In this article, fifth in the series, we look at the new profession which is an institution in the making, as it institutionalizes the legacy of the Turn Around Artist, the Insolvency Professional. To put it in two words, how to become an Insolvency Professional, Tough Luck....

Read More
Posted Under: Corporate Law |

Sea Cargo Manifest and Transhipment (Amendment) Regulations, 2018

Notification No. 65/2018-Customs (N.T.) (30/07/2018)

These regulations may be called the Sea Cargo Manifest and Transhipment (Amendment) Regulations, 2018.  They shall come into force on the date of their publication in the Official Gazette. GOVERNMENT OF INDIA MINISTRY OF FINANCE DEPARTMENT OF REVENUE (CENTRAL BOARD OF INDIRECT TAXES AND CUSTOMS) Notification No. 65/2018-Customs (N.T.) Nc...

Read More

Tax Benefit-Equity Linked Saving Scheme (ELSS), why to invest?

The advantage with ELSS compared to the Ulips is the frequency (mostly a single or a monthly investment for a year) and term for investment, for getting good returns....

Read More
Posted Under: Corporate Law |

Filling Tax Returns- Last minute checks are important!

I thought of making you aware of the last minute dos and don’ts so that you hit the bull’s eye in single shot whYour Income Tax Return returns. Even if you are not filling your Income Tax returns this July (Date now extended to 31st August 2018), you should have a look at the facts you need to verify....

Read More

Recipient of service cannot apply for Advance Ruling

In re Dr. Dathu Rao Memorial Charitable Trust (GST AAR Tamilnadu)

In re Dr. Dathu Rao Memorial Charitable Trust (GST AAR Tamilnadu) An applicant can seek an Advance Ruling Authority in relation to supply of goods or services or both undertaken or proposed to be undertaken by the applicant. In the case at hand, the applicant is the proposed recipient of the proposed works contract and […]...

Read More

Cryptocurrencies: Tax Implication

Cryptocurrency is digital money. It is considered to be more secure that the real money. Cryptocurrency uses something called cryptography to secure its transactions. Cryptography, to put it in simple words is a method of converting comprehensible data into complicated codes which are tough to crack. ...

Read More
Posted Under: Corporate Law |

Problems in Credit For TDS & Form No. 26AS

The Annual Tax Statement under section 203AA in From No. 26AS contains ‘Details of Tax Deducted At Source’ in Part A, ‘Details of Tax Collected At Source’ in Part B and ‘Details of Tax Paid (Other than TDS and TCS)’ in Part C basing on the data available with the department through OLTAS (On Line Tax Accounting System)....

Read More

Assessment or Reassessment Notice U/s 148

The power of assessment or reassessment of any income chargeable to tax that have escaped assessment has been provided under section 147 r w s 148 of Income Tax Act of 1961. If the assessing officer has the reason to believe that any income chargeable to tax has escaped assessment then the assessing officer may subject to the provisions o...

Read More

Hybrid Financing: An aid or an impediment

Nothing is available for free, even the air we inhale necessitates exhalation. Similarly, a startup requires funding in order to uplift itself from the nascent stage to a mature one. As an aid to the upliftment process, the Government of India has put forward an overture for hybrid instruments deviating itself from the traditional way of ...

Read More
Posted Under: Corporate Law |

Safeguard duty on Solar cells

Notification No. 01/2018-Customs (SG) [G.S.R. 717 (E)] (30/07/2018)

Reg. safeguard duty on Solar cells whether or not assembled in modules or panels  falling under heading 8541 or tariff item 8541 40 11 of the First Schedule to the Customs Tariff Act for a period of two year. Seeks to impose safeguard duty on imports of ‘Solar Cells, whether or not assembled in modules or […]...

Read More