Assessee is entitled to include interest in the capital cost while computing capital gains U/s 48 of the Act. Judicial discipline requires us to follow the order of a co‑ordinate bench.
Arjuna (Fictional Character): Krishna, the eve of new year was celebrated with enthusiasm. What are the 20 major things to be kept in mind in this year 2020 by the taxpayer? Krishna (Fictional Character): Arjuna, every new year comes with new hopes, new aspirations, new responsibilities and new challenges. 2020 is a leap year, to […]
Sakharam Bhondve Vs ITO (ITAT Pune) The issue under consideration is whether the deduction u/s 54F for reinvestment against Capital gain in the name of wife and son will be allowed or not? As per the judgement of the Hon’ble Bombay High Court in the case of Kamal Wahal (supra): “It also noted that a […]
The issue that arises is to determine whether Preference dividend falls under the definition of dividend u/s 2(22). DDT u/s 115-O shall be deducted only when the dividend distributed falls u/s 2(22). In case preference dividend is not covered u/s 2(22), TDS u/s 194 is required to be deducted. 1. Attention is to be given […]
Ministry of Corporate Affairs (MCA) had vide notification dated January 03, 2020 notified Companies (Appointment and Remuneration of Managerial Personnel) Amendment Rules, 2020 and amended the Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014. Following are the glimpse of the Companies (Appointment and Remuneration of Managerial Personnel) Amendment Rules, 2020: 1. The attached rules […]
Introduction MCA has vide Notification dated 03rd January, 2020 notified Companies (Appointment and Remuneration of Managerial Personnel) Amendment Rules, 2020 to amend the Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014 which has lead to an increase in the limit of paid up share capital for appointment of Company Secretary and widening of the […]
GST software makes the filing of GST convenient for the businesses. The GST software improves the filing of return and helps the business owners to remain compliant with the GST filing in time. The GST software generates invoices with the necessary details. The GST billing and report generation is otherwise a very tedious process to […]
Right Issue – A pre-emptive right given to shareholders in preference to an outsider. One of the easiest method to induct the capital in the Company is the Issuance of Shares under Right Issue. Under this, right is given to the existing equity shareholders, in the proportion of their existing holding in the Company. The […]
Credit note and debit note cause some hardship to quickly understand – who owes whom? Credit note is issued when the issuer ‘OWES’ money to someone, that is, it is issued by the person who owes money. Debit note is issued when any money is ‘OWED’ to the issuer, that is, it is again issued by the person who is the receiver of money.
Notification No. 01/2020-CT notified the amendments to CGST Acts introduced by Finance (No. 2) Act, 2019 with effect from January 1st, 2020. It has notified amendments to Sections 10, 22, 25, 31A, 44, 49, 52, 53A, 168 and 17a of the CGST Act, 2017. 1. Provisions have been inserted to prescribe further rules for determination […]
