CHARGE Companies Act, 2013: Section 77 to 87 and Companies (Registration of Charges) Rules, 2014. Form CHG-1 is to be filed by every company to intimate the Registrar of Companies regarding creation/modification of charge within or outside India, on its property or assets or any of its undertakings, whether tangible or otherwise to register the […]
Following are the enhancements in e-Way Bill System: 1. Auto calculation of distance based on PIN Codes 2. Knowing the distance between two PIN codes 3. Blocking the generation of multiple e-Way Bills on one Invoice/Document 4. Extension of e-Way Bill in case the Consignment is in Transit/Movement 5. Report on list of e-Way Bills about to expire soon
Provisions of section 56(2)(vii) have application to ‘property’ which is in nature of a capital asset of recipient and, thus, when assessee purchased a piece of land as stock-in-trade, the addition made by AO in respect of the purchase of land by invoking provisions of section 56(2)(vii)(b)(ii), was to be set aside.
1. MCA Issued Circular bearing Vide OM No. CRC/LLP/e-Forms Dated 06.03.2019 directing that incorporation of LLPs and conversion into LLPs with the proposed business activity(ies) including manufacturing & allied activities are not to be allowed. It stated that the LLPs as body corporate has been set up for the purposes of carrying out business activities related […]
Personal Loan Personal loans are unsecured loans available to meet your financial needs. Both salaried, as well as self-employed people can borrow this loan to help meet their personal expenses such as debt consolidation, wedding expenses, medical expenses, vacations etc. Practically these loans can be used for almost any type of expenses that are vital […]
The liability to pay interest under Section 50 (1) is self-imposed and also automatic, without any determination by any one. Hence, the stand taken by the department (i.e. interest is to be paid on Gross Value of tax payable without adjusting available ITC) that the liability is compensatory in nature, appears to be correct
TReDS = A Gateway of Finance for MSMEs Seller With the daily changes in the laws taking place around us, a new concept of Trade Receivables Electronic Discounting System i.e. TReDS has been introduced with the MCA notification dated 02.11.2018 which mandates all the companies with turnover of more than Rs 500/- crore to register […]
Thus, for a trust registered u/s 12AA of the Act to avail the benefit of exemption u/s 11 shall inter-alia file its return of income within the time allowed u/s 139 of the Act. Accordingly, orders u/s 143(1)(a) in those cases in which demand has been raised on this issue may please be rectified.
As said earlier, the scrutiny selection date is fast approaching for cases to be selected for the A.Y.2018-19 by 30th September, 2019. The Finance Act, 2017 has made a slew of changes in various heads of income. Business incomes and Other incomes are the most toughest of all other sources that leads to additions, disallowances […]
This article attempts to briefs about the deductions U/s 80IA which is coming to end for certain categories of enterprises in respect of certain incomes. (a) Developing Roads etc. : The eligible enterprise should commence business between 01.04.1995 and 31.03.2017. 100% of profit for any 10 consecutive assessment years in a block of 20 years […]
