Copyright piracy in all its forms has acted as a drain on the development of creative industry in many developing economies. Studies have shown that decreasing piracy would increase flows to GDP, tax coffers and high-wage jobs to those in countries hardest hit by piracy.
Stance of few of Early Warning Signals (EWS) about some wrongdoings in the Corporate which may turn out to be fraudulent: 1. Default in undisputed payment to the statutory bodies as declared in the Annual report:
Starting From Definitions To Get Understanding of The Terms Electronic Commerce – Means Supply of Goods or Services or Both, Including digital products over digital or Electronic Network. Electronic Commerce Operator – Means Any Person Who owns, operates or Manages Digital or Electronic Facility Or Platform For Electronic Commerce. So E-Commerce operator is the person Who […]
In GST regime, this debate or confusion on taxability of Work Contract has been removed and now been declared as a supply of service as mentioned in Schedule II to the CGST Act, 2017.
Section 194J: Professional & Technical Services – Royalty payments > As per the provisions of Section 194J of Income Tax Act 1961, any person other than Individual or HUF shall be liable to deduct TDS at 10%, if any sum exceeding INR 30,000/- is paid by way of: a) Fee for professional services, b) Fee […]
Daughter shall be a Coparcener of Hindu Family Property. If a Hindu dies, the coparcener property shall be allotted to the daughter as is allotted to sons. If a female coparcener dies before partition, then children of such coparcener would eligible for allotment assuming a partition had taken place immediately before her demise. No recovery is made for ancestors dues from son, grandson, or great grandson by applying doctrine of pious obligation.
COMPUTATION OF CAPITAL GAIN IN CERTAIN CASES 1. Section 51 – Advance Money Received 2. Section 50D- Fair Market Value deemed to be full value of consideration in certain cases 3. Section 50B – Special provision for computation of capital gains in case of Slump Sale Section 51 – Advance Money Received Many times we […]
Section 54, 54EC & 54F talks about the capital gain arising on transfer of long-term capital assets and one may note that depreciable assets if hold for a period of more than 36 months becomes a long-term capital assets. Section 54/54EC/54F are an independent sections & don’t make any distinction between Depreciable assets vis a vis Non Depreciable Assets.
Income Tax Department has mandated form 15CA to be submitted for Remittance outside India. Form 15CA can be submitted in any of the following mode :- 1. Submission of Form 15CA Online (Single Upload) – In this Mode remitter can submit the form Online by logging into https://incometaxindiaefiling.gov.in/ . In this mode at a time […]
Section 54B of the Income Tax Act provides an exemption from the capital gain arisen on the transfer of agricultural land by acquiring another agricultural land. The present article explains the provisions attached with the exemption available under section 54B of the Income Tax Act. Some conditions to avail exemption under section 54B The assessee […]
