Pr. Director General of Income Tax (Admn. & TPS) Vs M/s. Synergies Dooray Automotive Ltd. & Ors. (NCLAT) Conclusion – All statutory dues including ‘Income Tax’, ‘Value Added Tax’ etc. come within the meaning of ‘Operational Debt’ under the Insolvency and Bankruptcy Code 2016. Facts – According to appellant, the ‘Sales Tax’ and ‘Value Added […]
Fateh Chand Trust & College Committee Vs CIT (Exemption) (ITAT Agra) Department Can Examine Only Object of the Trust and Not Application of Income at the Time of Granting of Registration of Trust FACTS – Assessee is society, engaged in running and maintenance of Fateh Chand Inter College. College is fully aided by UP Government […]
SF cannot be considered to be a payment made by the assessee airline. PSF is a payment made by the passenger which is only routed through the assessee airline. It is undisputed that the amount handed over by the assessee airline to the Airport Operators has also not been claimed as expenditure by the asssesee in its books of account.
No addition could have been made u/s 68 of the Act in view of the fact that no incriminating material was found during the course of search to which this impugned addition could be related.
Article explains Registration Procedure Taxation of Partnership Firms /LLP which includes Income Tax Rate applicable and Provisions related to -Interest and Remuneration to Partners/Designated Partners, Conditions for assessment as a firm, Partners’ assessments, Losses of the firm. -Due dates for filing return of firm, Allowability of remuneration and interest vis-a-vis presumptive . -ITR Filing For […]
Prospective companies and investors looking to enter India must carefully consider their options for investment and available avenues for establishing a business presence in India. Foreign Investor or Foreign companies can open a liaison office in India for promoting and facilitating the parent company business activities and which can act as best, a communication channel […]
Before analyzing the 34th GST Council meeting decisions, let us look at the key decisions of the 33rd GST Council meeting. The 33rd GST Council meeting held on 24th February 2019 proposed the rates of tax for the Construction sector being: 1. 5% without ITC on residential properties outside affordable segment 2. 1% without ITC […]
There has been a confusion as to whether supply by duty-free shops or supply to duty-free shops in India attracts GST or not. This paper is an attempt to understand the legal position in the light of prevailing law and recent judgments. Under the provisions of erstwhile Central Sales Tax Act, an issue had arisen […]
In this write I am sharing my knowledge and understanding about Proprietorship Firm, Sole Proprietorship is a business or an establishment which is run by a single person. He or she, in whose name the business is run, is responsible for the enterprises. The sole proprietorship type is the favorite business form for small entrepreneurs. […]
Most of the establishments consider Basic wages and Dearness Allowance for PF contribution by the employee and the employer, since The EPF Act is in force. (more than 65 years.) The Honorable Supreme Court has given a decision on 28-02-2019 about which allowances are to be included in addition to Basic + DA, in PF wages for contribution […]
