Whether the Commission earned from auctioning of flowers is covered under entry no. 54(e) & (g) of Notification No.12/2017 – Central Tax (Rate) dated 28.06.2017 and entry no. 54(e) & (g) of Notification (12/2017) FD 48 CSL 2017 dated 29.06.2017?
Analysis of tax implication on ‘The Taxation Laws (Amendment) Ordinance, 2019 dated 20th September, 2019 The CBDT has introduced new section , Sec. 115BAA – Tax on income of certain domestic companies where at the option of the assessee, may compute tax @ 22% plus surcharge and cess (effective tax rate comes to 25.17%) from the […]
Director of Elementary Education, Odisha & Ors. Vs Pramod Kumar Sahoo (Supreme Court) We have heard learned counsel for the parties and find that the distinction between Trained Matric Teacher and Untrained Matric Teacher has not been appreciated by the Tribunal and the same error was committed by the High Court as well. The concession […]
In our recent discussions, we had come across that many of the business people and few of the professionals were not aware/familiar with the Transfer Pricing (TP) provisions and the related compliances. This document is intended to provide the basic knowledge of the same.
Currently, with an aim to promote the electric vehicle market, the Government is coming up with various exemption, deductions and rates cuts. One such step is the insertion of new deduction section 80EEB in the Income Tax Act, 1961. Newly introduced section 80EEB provides deduction in respect of interest paid on loan taken from the financial institution […]
Though entry into or exit from the group may go on continuously, entry into the group insurance policy for individual members will be either from a well defined date such as the next anniversary of the policy or from the first of the following month or from a clearly identifiable event other than merely joining the group, subject to receipt of premium in time.
Every Insurer carrying on life insurance business shall provide customised benefit illustrations to proposers or policyholders at the point of sale for all products, except those issued under IRDAI (Micro Insurance) Regulations, 2015, Guidelines on Point of Sales(POS) – Life Insurance Products, 2016 and IRDAI (Insurance services by Common Service Centres) Regulations, 2019 as amended from time to time.
Would you hire Tesla’s Elon Musk or Virgin’s Founder, Richard Branson, Sundar Pichai, Steve Jobs, or Bill Gates? Well, you cannot ignore them. Why you cannot ignore them? How many people in your organisation have this type of mindset of people? How many seniors leaders have built this incubation hub of creating future leaders in […]
1. In case the CSR amount for a particular financial year is unspent, then the same has to be transferred to a Fund specified in Schedule VII within a period of six month from the end of that Financial Year. 2. Any amount remaining unspent pursuant to any ongoing project, undertaken by a company in […]
DIRECT TAX HIGHLIGHTS Benefits have been announced by Finance Minister in order to boost the economy. A gist on them has been provided below for your ease of reference: For Existing Domestic Companies Reduce the Corporate tax rate for Domestic Companies from 30% to 22% (excluding surcharge & cess) subject to the condition that they […]
