This is an Appeal by the Assessee directed against the order by the Commissioner of Income Tax (Appeals)-2, Jalandhar (‘CIT(A)’, for short) dated 05.10.2016, partly allowing the assessee’s appeal contesting its assessment u/s. 143(3) of the Income Tax Act, 1961 (‘the Act’, hereinafter) dated 12.10.2015 for Assessment Year (AY) 2013-14
Article Explains Exemption / Deduction under Section 54, Section 54EC & Section 54F of Income Tax Act, 1961 with FAQs and Case Laws. It explains regarding Capital Gain Account Scheme, deduction on multiple sales & purchases of residential houses, capital gains arising from sale of more than one house
Following article highlights various provisions affecting cancellation of GST registration and procedure thereon. It discusses Persons Who Can Apply For Cancellation of GST Registration
When it comes to deduction of TDS while remitting any payment to a Non-Resident the beneficial provisions of Double Taxation Avoidance Agreement (DTAA) and the Income Tax Act 1961 (Act) is applied. In case where the remittance is not taxable in India then there is no requirement to deduct TDS, otherwise TDS needs to be […]
Naturally As long as CA’s are number ONE, everybody will gun them. Being number one, the chartered accountants perfectly understand that many authorities are gunning on them though they are the partner to national building. Everyone is trying to latch Chartered accountants for third-party irregularity, noncompliance or fraud. A mania to create laws against the profession […]
As such, the Insolvency Code is a piece of legislation, but in its application, it transcends the legal and tends to take socio-economic colors with huge strategic shades. Each case that is filed in the judicial forums, the way the creditors formulate their strategies, the debtors response, the judicial evaluation of each case, everything needs to be seen through laterally, from a strategic management perspective to understand how corporates get into trouble and thereafter need to crawl out of the hole. The story of Lanco is appears to be a never ending tale of twists, twists and some more twists, a story in which the petitioner (not Lanco) itself is on the verge of extinction. It is not uncommon for a CEO to sue his ex company; happens all the time, particularly in the US of A. However, even in the US of A, it is rare to see an ex-CEO filing corporate insolvency of the company where he had built up over a decade. The CIRP petition IB/9/HDB/2017 filed u/s 9 of the Code was decided on 21st Feb 2017 by the Hyderabad NCLT bench. It sought to put Lanco InfraTech Limited into Insolvency in accordance with the provisions of IBC 2016, appoint Interim Resolution Professional, award costs etc.. The petition was filed by KKV Naga Prasad who had worked for various group companies of Lanco InfraTech Ltd, from Jan 2003 till Jan 2014, in various roles, the last being CEO.
Hello friends, greetings for the day there are lots of confusion on the topic of pure agent under GST so in the current topic we will discuss about Pure agent. As per 2(5) of CGST Act agent means a person, including a a factor, broker, commission agent, arhatia, del credere agent, an auctioneer or any […]
Notification No. 05/2017 – CGST (Rate) dated 28th June 2017 restricted the refund of input tax credit in respect of inverted rate structure (i.e. rate of tax on inputs being higher than rate of tax on output) in respect of certain goods. Notification 20/2018 – CGST (Rate) was issued on 26th July g2018 to amend […]
1. In case of Duplicate/Multiple DINs, which DIN needs to be retained? As per the extant rules, in respect of an individual who is in possession of Duplicate/Multiple DINs, he can retain the Oldest DIN only. DINs obtained later have to be surrendered. In respect of an individual with a single DIN, if it is/was […]
