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Freight refers to bulk transportation of goods via train or truck, aircraft or ship. Since the transport of goods by freight is the commonly used transportation mode for the businesses supplying goods, the introduction of GST on freight charges hasn’t just affected the Indian freight sector but several other sectors as well. Generally, freight is facilitated either […]
Guidance Note on Reports in Company Prospectuses (Revised 2019) Readers may note that this Guidance Note supersedes the Guidance Note on Reports in Company Prospectuses (Revised 2016) issued by the ICAI in December 2016. The ‘Guidance Note on Reports in Company Prospectuses’ provides guidance to the practitioners in case of engagements which require them to […]
It was held that in determining whether the presumption has been rebutted, the test of proportionality must guide the determination. The standard of proof for rebuttal of the presumption u/s 139 is guided by a preponderance of probabilities.
While framing of assessment in pursuance of revisional order passed under section 263, AO was entitled to consider only those items which had been considered by CIT and was not entitled to consider any other item afresh for making addition.
Inatech India Pvt. Ltd. Vs ITO (ITAT Bangalore) From the narration of facts with regard to the non disposal of the appeal of the Assessee, it is clear that the delay in non disposal of the appeal is not attributable to any default on the part of the assessee. The law is by now well […]
Order u/s 120 (1) of the Income Tax Act, 1961 – Exercising of powers and performing of functions by the officers in the grade of JCITs – reg. F. No. 187/01/2019-ITA-1 Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes ITA-I Division North Block, New Delhi, Dated the 18 January, […]
Objective As per Foreign Trade Policy of India 2015-2020, Service Providers of Notified Services, located in India, shall be rewarded under SEIS, subject to conditions as may be notified. Objective of Service Exports from India Scheme (SEIS) is to encourage and maximize export of notified Services from India. Eligibility: Para 3.08 of FTP (a) Service […]
The One Person Company (OPC) is a newly incorporated type of company and was introduced in the Companies Act, 2013 to support entrepreneurs who on their own are capable of starting a venture by allowing them to create a single person economic entity. There can be only one, natural person resident of India who can […]
ORIGIN AND NEED OF LEI The story of LEI Code starts 40 years ago from the BARCODE REVOLUTION in 1974, when Wrigley’s Chewing Gum packet with a BARCODE swiped under an electronic reader in a Super Market. This was the First time that any machine had “read” any item with a standardised 11 digit bar code […]
In recent times, loan waiver to farmers has become common agenda in manifesto of political parties. This has again gained the light of the day ahead of 2019 general elections. In this article let us analyse whether loan waiver can become a brahma asthra to address all problems faced by the farmers in India or it is only a tool for political mileage to political parties.
