List No. 3′ LOK SABHA ——– FINANCE (NO.2) BILL, 2019 [As introduced in Lok Sabha] Notice of Amendments S.No Name of Member and text of Amendment Clause No. SMT. NIRMALA SITHARAMAN: 7 Page 6, for lines 47 to 49, substitute.- “(viii) income arising outside . India, being any sum of money referred to in sub-clause (xviia) […]
Clause 25 – Proposed section 80EEA – Tax incentive for affordable housing – Certain concerns to be addressed In order to promote affordable housing, the Finance (No. 2) Bill, 2019 proposed to introduce a new section 80EEA so as to provide an additional deduction of up to Rs 1,50,000/- for interest paid on loans borrowed up to 31.03.2020 for purchase of an affordable house valued up to Rs 45 lakh.
The Directorate General of GST Intelligence Hqrs. (DGGI Hqrs.) has arrested one person, namely, Shri Anupam Singla son of Shri Krishan Kumar Singla, permanent resident of Sirsa, Haryana, who had created about 90 fake firms for the purpose of issuing bogus invoices without supply of goods thereon.
The present article covers the provisions of TDS applicability on insurance commission contained under section 194D of the Income Tax Act, 1961. Provisions of section 194D of the Income Tax Act, 1961 As per provisions of section 194D, the person who is responsible for making payment to a resident person for the below mentioned income […]
Form GST CMP –08- Statement for payment of self-assessed tax for Composition Taxpayers Vide notification no. 20/2019 – Central Tax dated 23rd April 2019, the Central Goods and Service Tax (Third Amendment) Rules, 2019 were introduced. With the said introduction, the return filing requirement of the Composition Scheme dealers was modified. Further, vide notification no. […]
Ministry of Corporate Affairs vide its notification dated 13/06/2018, had notified the Companies (Significant Beneficial Owners) (SBO) Rules, 2018 along with Section 90 of the Companies Act, 2013 as amended by the Companies Amendment Act, 2017 to eradicate money laundering and to unmask the hidden owners of the company. Further,On 08.02.2019 M.C.A has revised the […]
There have been a significant number of instances of abrupt resignation of Statutory Auditors from listed entities in recent times. In most of the cases, the statutory auditors have suddenly resigned without completing their assignments for the year, generally citing ‘pre-occupation’ as the reason for resignation. The Watchdog SEBI on 18th July 2019 proposed stricter norms, […]
If the genuineness of a donation in one year is doubted, the addition, if any, can be made in the assessment of the relevant assessment year in accordance with law. However, that, by itself, would not be sufficient to withdraw the registration under Section 12AA(3).
Where on a fair reading of the judgment of the Co-ordinate Bench, it appeared that it had taken into account all relevant material and had not taken into account any irrelevant material in basing its conclusions, then the decision of the Co-ordinate Bench, was not liable to be interfered with, unless, of course, the conclusions arrived at by the Bench were perverse. Under Section 254 Only glaring and mistake apparent on the face of the record alone could be rectified which was not apparent in the of assessee.
In the given case the issue under consideration is that whether capital gains, which were exempt under section 54EC could be reckoned for purpose of computing book profit under section 115JA
