TAXATION OF INTEREST ON DEPOSITS MADE BY NON RESIDENTS IN INDIAN BANKS AND ON LOANS GIVEN BY FIIs/FPIS TO INDIAN CORPORATES Q.1 Whether interest income of non resident individual with regard to the deposits made in any bank in India is taxable in India ? Ans. Yes, the interest income of non resident individual whether […]
Fast Track Merger (Section 233) is that Form of merger which can be carried out without complying provisions of Section 230 & Section 232 of Companies Act 2013. TYPES OF COMPANIES THAT CAN GO FOR FAST TRACK MERGERS 1. Two or more small companies, 2. Holding and its wholly owned subsidiary Company 3. Such class […]
The Ministry of Corporate Affairs (MCA) has amended the Significant Beneficial Ownership (SBO) rules for companies under the Companies Act, 2013 which would now help identify entities that might be controlled from outside the country, It has been titled the new amended SBO rules as Companies (Significant Beneficial Owners) Amendment Rules, 2019. The amendment rules […]
Brief Background of Input Tax Credit and it’s provision Input Tax Credit “Input Tax” in relation to a registered person, means the central tax, State tax, integrated tax or Union territory tax charged on any supply of goods or services or both and includes 1. the integrated goods and services tax charged on import of […]
In re Rotary Club of Mumbai Queens Necklace (GST AAR Maharashtra) Q.1:- The questions/ issues before Your Honor for determination is whether the amount collected as membership subscription and admission fees from members is liable to GST as supply of services? Answer :- Answered in the affirmative, in view of the observations/discussions made above. Q.2:- […]
MCA introduced new e-form INC 22A– also known as e-Form ACTIVE (Active Company Tagging Identities and Verification) by issuing Companies (Incorporation) Amendment Rules, 2019. Which was last date of filing of this form 25th April 2019; failing to file could have entailed a penalty of INR 10,000. Government has finally extended the due date of […]
Ixia Technologies International Ltd. Vs ACIT(IT) (ITAT Kolkata) Since assessee`s case is covered by beneficial provisions of the India-Ireland DTAA, hence the retrospective amendment made in the provisions of section 9(1)(vi) of the Act, which provides that royalty would include consideration for transfer of all or any rights in respect of any right property, (including […]
Additional Disclosures on the Webpage on the website of Authority and Project Land Site; in addition to Section 4, 11, of the RERA Act and Rule 3, the promoter shall upload following details on his webpage on the website of the Authority;
In re Ms. Pacific Quartz Surfaces LLP (GST AAR Rajasthan) 1. What is the classification of Slabs of Quartz (Artificial Stone)? The Slabs of Quartz (Artificial Stone) is classifiable under HSN Code 68101990. 2. What will be the applicable rate of GST on Quartz Slabs (Artificial Stone)? The applicable rate of GST on Quartz Slabs […]
In re M/s Rambagh palace Hotels Pvt. Ltd. (GST AAR Rajasthan) Q1 Building Repair Work Q1.1 Whether GST paid on building materials, such as cement, concrete, bricks, cement or marble or stone slabs or tiles, paint, polish and any other building materials meant for repair of building shall be available for ITC? Answer- ITC will […]
