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Archive: 05 January 2020

Posts in 05 January 2020

Angel Tax: Blessing or Curse

January 5, 2020 4377 Views 0 comment Print

Angel tax, a direct tax imposed on some start-ups but before we start discussing on Angel tax we need to get back a few steps to understand it in a better way. Start-ups born from entrepreneurial dreams. Now, who can be a certified start-up? If you want to certify your firm as a start-up as […]

9 Ideas To Reform Income Tax Act

January 5, 2020 1752 Views 1 comment Print

9 Ideas To Reform Income Tax Act ( Or It May Be Incorporated In DTC ) 1. Solution To Give Relief To Middle Class & Lower Class From Income Tax Without Decreasing Revenue This Should Be Income Tax Slabs. Remove 87a Rebate. Its High Time That Government Should Rethink Income Tax Basic Exemption Limit 1. […]

HC set aside Order passed without providing copy of Statement recorded

January 5, 2020 1251 Views 0 comment Print

National Handloom Development Corporation Limited Vs The Assistant Commissioner (CT) (Madras High Court) Having heard learned counsel and upon careful perusal of the pleadings, evidences and records of assessment produced before me, it appears very apparent that the principles of natural justice have been given a go-by in the present case. The extracts from the […]

Direct & Indirect Taxes Updates- December 2019

January 5, 2020 7878 Views 1 comment Print

A. DIRECT TAXES UPDATES i) Income Tax circulars/ notifications/ rules/ clarifications/News- December 2019 ♦ CBDT has notified revised FORM NO. 10DA (Report under section 80JJAA- Deduction in respect of employment of new employees, of the Income-tax Act, 1961). Section 80JJAA is applicable if In case of an assessee opting to provision to sec 115BAA or […]

Filing of Declaration for Commencement of Business in Form INC-20A

January 5, 2020 9834 Views 0 comment Print

The Companies Act, 2013 was effective for all the companies with effect from 1st April, 2014 but of its certain sections or provisions was applicable from different dates depending upon the notification of by Ministry from time to time. The Government of India has always put a thrust to start a business by incorporating a […]

Data Bank For Independent Directors

January 5, 2020 4428 Views 1 comment Print

Independent Directors Serve as an important institution of Corporate Governance Contributing Significantly at the boards by bringing diverse set of skills with an independent judgment on significant issues. Independent Directors act as a guide, coach , mentor to the company, Their role broadly includes improving corporate credibility& governance standards by working as a watchdog and […]

Fund Raising: All you need to know about

January 5, 2020 11202 Views 2 comments Print

Funding means and includes the money required to start and run a business. It is a financial investment in a Company by the owner or external personal for expansion, product development, sales and marketing, office spaces, manufacturing and inventory. Many startups choose to not raise funding from third parties and are funded by their founders […]

Easy GST Invoice: Excel Based free Invoicing tool

January 5, 2020 32604 Views 2 comments Print

Please checkout The Excel based Easy Invoice tool to simplify your invoicing requirements. Features of the Easy Invoice Tool The Most Important thing: Completely Free of Cost! Customisable and User Friendly Interface. Add Business Details and Logo on Invoice GST Compliant Automatically Charges IGST or CGST and SGST based on Place of Supply and Place […]

SC on Revise return by Amalgamated Company

January 5, 2020 15534 Views 0 comment Print

Dalmia Power Limited Vs ACIT (Supreme Court of India) When the companies merged and amalgamated into another, the amalgamating companies lost their separate identity and character, and ceased to exist upon the approval of the Schemes of Amalgamation. Every scheme of arrangement and amalgamation must provide for an Appointed Date. The Appointed Date is the […]

Benefits & Procedure for Registration u/s 80G of Income Tax Act,1961

January 5, 2020 73872 Views 4 comments Print

Important Points related to Section 80G of Income Tax Act, 1961: It is important to note that when registration is granted under section 12A, it does not mean that section 80G approval has been given i.e. registration under section 12A will not provide automatic approval under section 80G. It has to be applied separately.

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