Assessee was not entitled to the benefit of section 54F in respect of the investment made by assessee in purchasing the capital asset (land) as the said purchase of land was not within a period of one year prior to the sale of capital asset or falling in any of the categories in which assessee was entitled to claim exemption u/s.54F.
Kindly see my earlier article, for understanding of INC -22A i.e. e-form ACTIVE.Link titled as ‘Everything one should know about INC 22A – Active‘ Procedure of filing the form INC-22A ACTIVE step by step is here 1. Enter a valid CIN 2. Click the Pre-fill button, Kindly check mail Id , in case there is […]
Introduction: The Banning of Unregulated Deposit Schemes Bill, 2019 was passed by the Lok Sabha on 13.02.2019 but could not be passed by the Rajya Sabha. Since the Parliament is not in session, the BANNING OF UNREGULATED DEPOSIT SCHEMES ORDINANCE, 2019 has been issued by the President of India vide Notification dt. 21.02.2019. According to […]
Rejection of Books of Account under Section 145(3) and Assessment in the manner under Section 144 Connotation thereof Method of Accounting Section 145 of the Income Tax Act, 1961 (the Act) provides the method of accounting by the assessee. Section 145(1) of the Act provides that income chargeable under the head “Profits and gains of business […]
After good response on my previous article, ‘E-Form ACTIVE INC-22‘, I wish to share piece of knowledge on appointment of additional director. Section 161 of the Companies Act, 2013 governs this area. Any Individual can be appointed as an Additional Director by a company under section 161 of the Companies Act, 2013. If the Board […]
SUBJECT only to State of Maharashtra, under the ‘Profession Tax Act’ and statutorily applicable without any exceptions to ‘Cooperative Housing Societies’, registered under the “Maharashtra Cooperative Societies Act. WHO IS LIABLE: 01. EACH & EVERY Housing Society (CHS), registered under the “Maharashtra Cooperative Societies Act“, are statutorily & mandatorily bound to pay “Profession Tax”, for […]
1. Sec. 9(3) of the CGST Act, 2017 as well as Sec. 5(3) of the IGST Act, 2017 grants power to the Government, on the recommendations of the GST Council, to specify the categories of supplies of goods or services or both in respect of which the tax shall be payable by the recipient and […]
Exposure Draft of Standard on Internal Audit (SIA) 370,Reporting Results to Management (Comments to be received by March 28, 2019) – (27-02-2019) The Internal Audit Standards Board of The Institute of Chartered Accountants of India (ICAI) invites comments on Standard on Internal Audit (SIA) 370, Reporting Results to Management. Comments are most helpful if they […]
In re Quality Earth Minerals Pvt. Ltd (GST AAR Haryana) Q1. What is the classification of service provided in accordance with Notification No. 11/2017-CT (Rate), dated 28.06.2017 read with annexure attached to it, by the State of Haryana to M/s Quality Earth Minerals Pvt. Ltd., for which royalty is being paid? Whether said service can […]
Exposure Draft of Standard on Internal Audit (SIA) 360, Communication with Management (Comments to be received by March 28, 2019) – (27-02-2019) The Internal Audit Standards Board of The Institute of Chartered Accountants of India (ICAI) invites comments on Standard on Internal Audit (SIA) 360, Communication with Management. Comments are most helpful if they indicate […]
