Only a land in which the building is completely constructed stands excluded under the exclusionary provision under Explanation (1 )(b)(ii) of Section 2(ea) of Wealth Tax Act, 1957
Gratuity payable to government employees is fully exempt.For non government employee covered under Payment Of Gratuity Act,1972, the maximum limit for exemption is Rs 20 lakhs and for any other employees, the maximum limit of exemption is Rs 10 Lakhs.
Rakhi is an independently identifiable product which may be made up of innumerable materials of no fixed or predetermined ratio, and yet retain its specific identity as a symbol of a bond involving the potential care of the sister by the brother, and not merely an assemblage of discrete materials. Rakhi cannot be termed as a handicraft item under GST under Notification No 32/2017-Central Tax dated 15.09.2017, (later amended as Notification No 38/2017-Central Tax dated 13.10.2017).
Deduction U/s. 80D of the Income Tax Act, 1961 in respect of Medical Insurance Premium (Mediclaim) paid, to keep in force insurance by individual either on his own health or on the health of spouse, dependent parents and children or paid by HUF on the health of any members of the family.
1. In India, there are 3 different types of non-profit organization exists as per type of registration with authorities which are 1. Trust 2. Societies and 3. Non-Profit Company (Section 8) 2. Any person or association of person including a partnership firm or an existing company can form section 8 company. 3. Section 8 companies’ […]
Based on the recommendations of SMAC, it has been decided to review the mechanism of dividend adjustment for stock options. The adjustment in strike price shall be carried out in the following cases of declaration of dividends
With effect from September 6, 2015, facility for digital signature certificate (DSC) based PAN application has been enabled in New PAN Form 49A for Individuals. Guideline for DSC based Online Application for New PAN Card in Form 49AA (a) An applicant will fill Form 49AA online and submit the form. Non-citizens of India should only […]
Competition Commission of India (CCI) launches an Online Guidance System for determining notifiability of Merger & Acquisitions in terms of the Competition Act, 2002.
Customs Rate of Exchange of Foreign Currency Conversion wef 06.07.2018 notified vide Notification No. 60/2018 – Customs (N.T.) dated the 5th July, 2018
Introduction: Every person who is required to file ROI shall get himself registered with the Indian Revenue Authorities. On being registered, such a person is alloted an identification number, commonly known as Permanent Account Number(PAN). Sec. 139A of Income Tax Act,1961 applies for Pan Card. Structure: Pan card is issued under Sec 139A of Income […]
