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Archive: 14 June 2020

Posts in 14 June 2020

New Tax Regime Vs Old Tax Regime

June 14, 2020 29814 Views 7 comments Print

 New Income Tax Regime Vs Old Income Tax Regime The Finance Minister introduced several proposals in relation to the personal tax regime in the Union Budget 2020 presented in the parliament on February 1, 2020. The Budget 2020 introduced a new income tax regime for individual taxpayers. Bringing a revolutionary change in direct tax rates, […]

Taxability of interest earned by Resident Welfare Association

June 14, 2020 17769 Views 2 comments Print

Note on Taxability of Interest Income from fixed deposits made out of corpus fund and maintenance surplus.  PRINCIPLES OF MUTUALITY   The Resident Welfare RWA’S( RWA) is primarily formed with a purpose to maintain, upkeep and provide amenities to the apartment owners/occupiers. Maintenance fee is collected every year for the purpose of the same. Rwa’s […]

Are you an Accused in False Cheque Bounce Litigation- Do this

June 14, 2020 12423 Views 3 comments Print

In India, the biggest problem with Laws is that anyone can file the case against anyone even with a small iota of evidence as procedure are not taken seriously in trial and lower courts. For ex., it is the onus on the Court to ensure all the facts of the case at the time of […]

Received LEGAL NOTICE | Don’t Panic | Certain Tips to REPLY

June 14, 2020 62826 Views 2 comments Print

The first and foremost action shall be to accept the notice whatever it may be as no-acceptance of the notice means Deemed to be good service and hence it is better to know the contents of the notice and then make the strategy to reply the notice or not and if so, then how. Here […]

Section 138 Case is delayed or Fails, Know Common Mistakes

June 14, 2020 14496 Views 9 comments Print

Section 138 of Negotiable Instrument Act (As amended) [Section 138] is popularly called as Cheque Bouncing case and this is one of the most trusted and success legal remedy being availed almost by all at their first instance till the new law came under Insolvency and Bankruptcy Code for its various benefits and among all […]

Why It Is Dangerous to Avail Online Business & Legal Services?

June 14, 2020 4284 Views 2 comments Print

Why it is Dangerous to Avail Online Business and Legal Services in Business or Else? There are many online legal services offering services such as standard business templates, online business formation companies and or online legal services offering cheap services and forms and templates but what is the reasons that you should not use them? […]

Sample Flat in Under-Construction Project, Beware of TRAP

June 14, 2020 4053 Views 2 comments Print

Sample Flat in Under-Construction Project= BEWARE, of this TRAP and UNDERSTAND Its Purpose and Intention Sample Flats is a term which is coined as part of Marketing Tool and is just an Advertisement by Builders to sell their flat in the market. The concept of Sample Flat is the creativity of Marketers Professional to ensure […]

Ignoring Intellectual Property Protection is Winding Up Business

June 14, 2020 1116 Views 0 comment Print

MSME / Traditional Business = Ignoring Intellectual Property Protection Is Winding Up Business Business has not changed but the way of doing the business has changed and infact the change is on fast track mode thanks to Technology. Due to this fast track mode, many of the traditional business who never changed the way of […]

Is Unregistered MSME Entity eligible for MSME Recovery Proceedings?

June 14, 2020 7809 Views 0 comment Print

What is Statutory Arbitration?  There are various statutes providing for dispute resolution by way of arbitration, even though parties did not have an express arbitration clause between them i.e., Section 7-B of Telegraph Act,1885, Section 52 of Electricity Act, Section 76(2) of Electricity (Supply) Act, etc. In the same manner even Section 18 of The Micro […]

Section 80IB: Tax Holiday cannot be granted on Bogus transactions

June 14, 2020 960 Views 0 comment Print

ITAT states that, it has to be pointed out that any tax holiday can be granted to a person who declares a truthful return. It cannot and should not be granted to the person who claims that he purchased medical equipments in the guise of treating poor persons and it is subsequently found that the entire transaction is bogus.

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June 2020