"23 December 2018" Archive

Addition for Issue of Share by Start-ups at Premium- No coercive measures to recover Tax

F.No.173/14/2018-ITA-I Government of India Ministry of Finance Department of Revenue (CBDT) North Block, New Delhi, Dated 24-December, 2018 To, All Principal Chief Commissioners of Income-tax Madam/Sir Subject: – Determination of fair market value of unquoted equity shares of ‘Start Up’ companies under section 56(2)(vii...

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Posted Under: Income Tax |

Derivative Transaction Loss is not Speculation Loss & can be adjusted against Business Income

M/s. Sucon India Ltd Vs JCIT (ITAT Delhi)

M/s. Sucon India Ltd Vs JCIT (ITAT Delhi) Loss suffered by assessee on derivative transaction is not speculative loss and as such eligible to be adjusted against business income and Explanation 73 of the Income Tax Act is not attracted. FULL TEXT OF THE ITAT JUDGMENT Appellant, M/s. Sucon India Ltd. (hereinafter referred to as […]...

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Join Online GST Certification Course by Taxguru & MSME Covering Recent Changes

Due to overwhelming response and feedback from previous batches, TaxGuru, GST Professionals and Govt. of India (Ministry of M.S.M.E) announces its Jan’ 2019 Batch for Advanced Online GST Certification Course. Learn GST in a Practical way and become an Expert in this field....

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Employees’ State Insurance (ESIC) Act, 1948 – An Overview

Registration under ESIC: Shops or Establishments that have 10 or more employees, drawing the wages of up to (not exceeded) Rs.21,000 /- a month are required to be registered in FORM 01 within 15 days after the act becomes applicable to a unit or establishment for ESIC under the ESI Act 1948....

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Posted Under: Income Tax |

Summary of 31ST GST Council Meeting Decisions

31ST GST COUNCIL MEETING DECISIONS Change in GST Rate on Goods –  Solar Power Plants to be Taxed at 8.9% – To provide some relief to Solar Industry, it has been decided that supply of Solar Power Systems/ Plants as a part of EPC Contract will be taxed as follows – Particulars Effective Rate 70% […]...

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Posted Under: Income Tax |

GST Council की 31st मिटींग के कुछ खास निर्णय

Important changes proposed in GST Council’s 31st Meeting GST Council की 31st मिटींग आज 22/12/2018 को हुई जिसमें नीम्न प्रकार के GST में amendment करने का प्रस्ताव रखा गया है। इसके लिए जल्द ह...

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Posted Under: Income Tax |

6 Basic things to know of Income Tax

Are you just out of college and looking for job or starting of new business? or have you already got a job or started business and going to filing your first time income tax return. If you are getting confused about income tax this article “Let’s Talk About Tax” will help to you. our motivation […]...

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Posted Under: Income Tax |

Tax on Undisclosed source of Income under Income Tax Act, 1961

Undisclosed income is the income which the assessee has not shown in his Income Tax Return and thereby not paid income tax on it. The primary objective of the Income tax department is to detect such undisclosed income and bring the same under the tax net. If the Assessing Officer detects cash credits, unexplained investments, […]...

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Posted Under: Income Tax |

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