c

"February, 2020" Archive - Page 30

Public Provident Fund (PPF) – Tax benefit and Returns

Eligibility - Individuals who are residents of India are eligible to open an account under the Public Provident Fund scheme. A PPF account may be opened under the name of a minor by his/her legal guardian. However, each person is eligible for only one account under his/her name....

Read More
Posted Under: Income Tax |

Now is the time to attack! Start firing bullets at your taxes

Act before March-end, so that you don’t have to regret in July! So many clients put their palms on their head, when it is the time to pay taxes and file return, in July. Taxes have already fired at them, they have done nothing to save themselves against the tax shots....

Read More
Posted Under: Income Tax |

Foreign exchange loss due to currency fluctuation was not a speculation but a business loss

DCIT Vs Acalmar Oils & Fats Ltd. (ITAT Ahmedabad)

Forward contracts in the nature of hedging transactions in course of normal import export activities to cover up losses on account of foreign exchange valuation difference results in business losses and not speculative one....

Read More

Constitution of 22nd Law Commission of India

F. No. A-45012/1/2018-Admn. III (LA) 21/02/2020

The sanction of the President is hereby accorded to the constitution of the Twenty-second Law Commission of India for a period of three years from the date of publication of this Order in the Official Gazette consisting of:...

Read More

Can a settlement come in record if NCLT bench have passed CIRP order?

The Insolvency and Bankruptcy Code, 2016 (Code) is a Codification of Sections of various previous Acts to deal with corporate insolvency and bankruptcy. Hailed as a comprehensive economic reform, IBC was hailed as the fastest and most effective tool to recover bad debt....

Read More
Posted Under: Income Tax |

Summary of Discussion paper on proposed changes to SEBI Takeover Regulations

Securities and Exchange Board of India (SEBI) on 3rd February, 2020 released a Discussion paper proposing the changes in SEBI (Substantial acquisition of shares & Takeover) Regulation, 2011 for availing various mode of acquisitions of the target company and proposing other changes for making the procedure more transparent and simpler for ...

Read More
Posted Under: Income Tax |

Important GST Amendments at a Glance

In this presentation, you will find latest amendments in the GST Law. 7th February 2020 The due date to submit TRAN-01 for carrying forward the transitional credit is extended to 31st March 2020 for those taxpayers who could not file earlier due to technical glitches. 3rd February 2020 The filing of return in GSTR-3B for […]...

Read More
Posted Under: Income Tax |

GAAR Applicability

This article is all about General Anti Avoidance rules (GAAR). These rules come into effect when any transactions are undertaken by being within the provisions of the Income tax Act but the sole purpose of such transaction is to avoid tax. So in order to develop the better understanding about our current topic, let us […]...

Read More
Posted Under: Income Tax |

Questions arising out of new income tax rates

Honourable finance minister while presenting the budget has provided an option to Individuals and HUFs to pay tax according to new rates. The optional rates as per Section 115BAC and their comparison with existing rates are as following. New Rates Existing Rates Sr. No. Total Income Rate Sr. No. Total Income Rate 1 Up to […]...

Read More
Posted Under: Income Tax |

Section 272A Penalty for failure to answer questions or furnish information / returns/ statements or allow inspections etc

The penalty provisions of section 272A of the Income Tax Act covers various penalty like failure to answer the questions or failure in furnishing several information / returns / statements etc. The provisions of section 272A are taken up and explained in the present article. Applicability of provisions of section 272A of the Income Tax [&...

Read More
Posted Under: Income Tax |

Search Posts by Date

January 2022
M T W T F S S
 12
3456789
10111213141516
17181920212223
24252627282930
31