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Income Tax needs to be deducted at source by the purchaser on payment against purchase of an immovable property from a non-resident following the guideline as below: 1. Who is a non-resident under Income Tax Act? Ans. The residential Status is determined for every financial year, i.e., the period from 1st April to 31st March […]
Power to provisionally attach bank accounts is a drastic power. Only upon contingencies provided therein that the power under section 83 can be exercised. It is therefore not possible to accept the submission of the Respondents that even though specified proceedings have been launched against one taxable person, bank account of another taxable person can be provisionally attached merely based on the summons issued under section 70 to him.
Stock Exchange Bombay Vs Varughese P. Danial (Bombay High Court) So far as the prohibitory orders were issued by the Income Tax Department in respect of security deposit of the defaulting card holder is concerned, any amount in excess after meeting it’s liabilities should be handed over to the Income Tax Department. This is so […]
The appellant is providing financial services and gives loans. For recovery of loans, the appellant collects post-dated cheques. There are instances when post-dated cheques after being presented to bank get dishonoured. The bank collects charges for dishonouring of the cheques. Such charges are recovered by the appellant from their clients. It appeared to Revenue that such charges should be included in the assessable value for levy of service tax. Therefore, proceedings were initiated which culminated into passing of the impugned order.
Article answers following queries 1. New version of GSTR9C was made available on the Portal in December 2019. How can we file within one month? 2. Government extended date for filing of GSTR-1 up to 17/01/2020 but portal allows the ITC shown in GSTR-2A up to 30/04/2019. 3. Where is the provision to upload PDF […]
Authorisation to file e-Form DPT-3 One Time The Chairman informed the Board that the Ministry of Corporate Affairs (MCA) vide notification dated 22th January, 2019 in exercise of the power conferred by clause (31) of section 2 and section 73 read with sub-sections (1) and (2) of section 469 of the Companies Act, 2013 (18 […]
IEPF Compliance Checklist for a Financial Year Updated as per Section 125 of Companies Act, 2013 and Investor Education and Protection Fund Authority (Accounting, Audit, Transfer and Refund) Rules, 2016. S. No. Particulars of compliance Timelines 1 Form IEPF-3 Within 30 days of the end of the Financial Year 2 The Company shall inform the […]
N. Motilal & Ors. Vs. Faisal Bin Ali (Supreme Court) The moot question to be answered in this appeal is as to whether during currency of contractual tenancy i.e. during the currency of agreed rent between the landlord and the tenant whether landlord is precluded from making an application for determination of fair rent. Section […]
M/s Broekman Logistics India) Pvt Ltd. Vs Commissioner of GST & CE (CESTAT Chennai) Appellant is authorized to carry out the operations by setting up a unit in the FTWZ zone. They have been rendering Storage and Warehousing services predominantly to foreign customers. On the charges collected for services rendered to Indian customers, the appellants […]
1. Increase in share capital shall be authorised by articles of association (AoA) of the company. In case AoA does not authorise to increase the share capital the AoA shall be amended as per section 14 of Company Act 2013 by passing special resolution. 2. The company shall need to alter the memorandum of association […]
