Declaration of Dividend is one crucial thing in any Company as it is their way of keeping their Shareholders happy. This also is an indicator to some extent about a Company’s performance. Section 123 of the Companies Act, 2013 deals with the process of Declaration of Dividend. However, it is not the declaration, but the […]
The article proposes useful procedures and steps in ensuring that any critical data collected and digital evidence discovered, which is useful in fulfilling the objectives of Income Tax Department, should be admissible in any Court of law in India and its authenticity and integrity should be unquestionable.
DCIT Vs Ms. India Housing (ITAT Kolkata) We note that as per clause 10 of the Partnership Deed, no interest was to be charged or paid to the partners in respect of balances standing to the debit or credit of their capital account. As per Partnership Act, 1952, the partners can carry on any business […]
In GST law, there are still few issues like compensatory damages, employee notice period recovery which needs clarity for taxation. In many private organisations, employees would be legally bound to serve for specified period which could vary from 15 days to 3 months or more depending on designation or role of a particular employee during […]
Tax deductee is a person who receives certain prescribed payments like salary, interest, commission, brokerage, rent etc. after deduction of tax at source
A large number of assessments pertaining to cash deposited in banks during demonetization period are pending. The article analysis relevant sections of I.T. Act as well as various legal issues to assist assessing officers in passing error free sustainable assessment orders.
Last month the government extended the due date for filing GSTR-9 and GSTR-9C For filing GSTR-9 & GSTR-9C the due dates are extended up to 31st December 2019 for FY 2017-18 and 31st March 2020 for FY 2018-19. So you can also file GSTR 9, 9C via Gen GST Software before the due date and […]
Existing State of J&K has been reorganized into Union territory of J&K and Union Territory of Ladakh w.e.f. 31-10-2019 vide Jammu and Kashmir Reorganisation (Removal of Difficulties) Order, 2019. Applicable Statutes The Jammu and Kashmir Goods and Services Tax Act, 2017 shall be applicable to the Union Territory of Jammu and Kashmir and the Union […]
Examiners (State Legislated Technological Universities) becoming Examinees before Income Tax Department in light of Rule 2BBB of Income Tax Rules 1962 Government Funded Technological Universities legislated by an ACT of State Legislature are receiving demand notices from Income Tax Department which are posing serious challenges to the existence and survival of the Higher Education System […]
Circular Trading is not a new concept in India, it has been ever existing in the Indian Market, but many tend to believe that it only takes place in the stock market. However, that is not the case, Circular Trading can also take place into companies or trading businesses. Before we further get into the depth and analysis of circular trading, let’s start with the basics and try to understand the following aspects.
