If you are paying rent and getting HRA allowance every month, you are eligible for tax deductions according to the prescribed limit of HRA exemption. If you want to avail of the benefits, you must submit the rent receipts to your employer every year at the time of the collection of tax proof. Central Board of Direct Taxes (CBDT) has vide CIRCULAR NO. 8/2013, Dated: Dated: October 10, 2013 said if annual rent paid by the employee exceeds Rs 1,00,000 per annum, it is mandatory for the employee to report PAN of the landlord to the employer. In case the landlord does not have a PAN, a declaration to this effect from the landlord along with the name and address of the landlord should be filed by the employee
In the cases given below, the amount of exemption does not depend upon expenditure incurred by the employee. Regardless of the amount of expenditure, the allowances given below are exempt to the extent of –1) The amount of allowance; or 2) The amount specified in rule 2BB, whichever is lower.On the above basis, exemption is available in the case of the following allowances. It may be noted that in these cases, the amount of actual expenditure is not taken into consideration
CBIC appoints Common Adjudicating Authority vide Notification No. 13/2018-Customs (N.T./CAA/DRI) for M/s Transformers & Rectifiers (India) Pvt. Ltd, M/s Elmon Systems Pvt. Ltd. etc.
In the appeal of M/s. Aditya Birla Retail Ltd. (GST AAAR Maharashtra), the appellate authority clarifies the interpretation of ‘brand name’ regarding packaging and GST exemptions. Also, read about the GST AAR ruling on Aditya Birla’s cereal packs.
Article Explains all about Section 54, Section 54B, Section 54D, Section 54G/ 54GA in case of shifting to SEZ, Section 54EC, Section 54F and Section 54GB
In re Maheshwari Stone Supplying Co. (GST AAAR Telangana) Issue- Polished / Processed limestone slabs are correctly classifiable under heading 6802 of the GST Tariff? appellant has not made out a case against the decision in impugned Advance Ruling in so far as it has been ruled that ‘Polished / Processed Limestone slabs are. correctly […]
The Article analyses the applicability of GST on payment on interest for loans provided to the subsidiary company which is based in India by the holding company incorporated outside India. Whether such services is liable to be exempted from GST? The question has been dealt in a detailed manner in the article.
Article explains Procedure for Striking off a Company under Companies Act 2013. Striking off of the Company is an alternative to winding up of a Company subject to statutory criterion specified under section 248 of Companies Act, 2013. In this Article we will discuss procedure for Striking off a company under Section 248(2) of the […]
1. The Green Shoe Option (GSO), also known as Over Allotment option allows companies to intervene in the market to stabilise share prices during the 30-day stabilization period immediately after listing. This involves purchase of equity shares from the market by the company-appointed agent in case the shares fall below issue price. 2. The GSO […]
1. Time Period For Creation/Modification Of Charge: For Creation / Satisfaction of Charge Form CHG-1/ CHG-4 will be within 30 days of Creation/ Satisfaction of Charge. If the company fails to file within 30 days? Companies may allow such registration to be made within a period of 300 days of such creation If the Company […]
