The issue under consideration is whether the assessee is correct in claiming depreciation on customer list and goodwill by considering it as intangible asset?
The issue under consideration is whether CIT(A) is correct in holding that the appellant is not a state under Article 289 of the Constitution of India and therefore, liable to tax under the Income Tax Act?
Earlier under Companies Act, 1956 there was no such provision under which appointment of woman has been made compulsory for Companies but with the introduction of The Companies Act, 2013, a sub section and rule related to the mandatorily appointment of Woman Director in the Board of Directors has been inserted. This not only empowers […]
The recent ruling pronounced by the Karnataka Authority for Advance Ruling (‘AAR’) in case of M/s. Dolphine Die Cast (P) Ltd, In the present case, the applicant is in the business of manufacturing and exporting of Aluminium and Zinc die castings. The applicant sought the advance ruling in respect of repercussions under GST on the […]
The primary purpose of a company’s audit committee is to provide oversight of the financial reporting process, the audit process, the company’s system of internal controls and compliance with laws and regulations. This Committee is sometimes set up as the requirement of law and sometimes setting up as adoption of best practices of good corporate governance. Constitution of Audit […]
As we were approaching nearer to the end of lockdown 4.0 , on 30th May 2020 , Ministry of Home Affairs (MHA) released a new guideline for reopening the nation (Unlock 1) in a phased manner, starting with None- Containment Zones. The Lockdown in the Containment Zones will continue till June 30, 2020. The Lockdown […]
1. CBDT vide Notification No. 30/2020-Income Tax/G.S.R. 329(E) May 28, 2020 amended Form 26AS in Sec 285BB w.e.f. 01.06.2020. 2. Key takeaways are: 3. New form 26AS will also provide information in respect of ‘Specified financial transactions’ which include transactions of purchase/ sale of goods, property, services, works contract, investment, expenditure, taking or accepting any […]
The disallowance of the expenditure u/s 40(a)(ia) would automatically enhance the taxable income of the assessee and the assessee is eligible for the deduction u/s 10A of the Income-tax Act on the enhanced income.
Concept of Right Issue of Shares Under Companies Act 2013, Applicable Rules & Sections for Right Issues under Company Law, Conditions for the offer of Right Share to existing equity shareholders, Forms to be filed with ROC for Issue of Right Shares, Step-wise Procedure for Right Issue of Shares, Penalty for failure to adhere with […]
The ministry of corporate affairs has introduced a new eform spice + to incorporate a company and claims it is very easy procedure. Whether it is really so, Let’s examine it from various points of views: submission of forms: The form is divided into two parts:- Part A : for reservation of name. Part B: […]
