The world came to the standstill with series of lockdown for a simple cause to save the mankind from Covid-19. Everything was curbed. Businesses got stalled. Finance cycle could not be completed as the wrath came at the fag end of the financial year 2019-2020. Panic pushed Companies to run the show with limited resources. […]
Getting Rich By Investing (Savings would prevent poverty, It is Investing that lead to riches) Taking the example of INFOSYS ( An Indian I.T. Company ), if one has invested in the company since its inception i.e in the year 1993, investment amount of just Rs 10,000 ( 100 shares) today it would worth rupees […]
Improved Form 26AS will contain details of taxpayers’ high valued transactions Filing income tax returns could get even more easier and transparent for individual taxpayers from this assessment year. This is because the newly revamped Form 26AS—which is effective from June 1– will also contain the information on taxpayers high valued financial transactions that could […]
Shiv Raj Gupta Vs CIT (Supreme Court) The Apex Court in the case of Shiv Raj Gupta v. CIT1 held that the compensation attributable to a negative/restrictive covenant is a capital receipt. The Apex Court reiterated that the test of commercial expediency would have to be adjudged from the point of view of the businessman […]
The main question before the Gujarat High Court was whether the actions of the Central Government of issuing the Impugned Notifications and imposing service tax liability on the local importer/third party (who is neither the service provider nor the service receiver) in CIF Contracts amounted to ‘excessive delegation’ and would amount to misuse of its power?
> INTRODUCTION DTVSV Scheme was announced in Budget 2020 as “No Dispute but Trust Scheme-Vivad se Vishwas Scheme” to settle pending disputes relating to direct taxes. It is an attempt to release 9.32 trillion (as on 30th Nov 2019) blocked in approximately 483000 appeals pending at various appellate forums. The Scheme got assent from Hon’ble […]
The Definition of Education as given by the Supreme Court in the Loka Shikshana Trust v/s CIT Case , is that ‘education is process of training and developing knowledge, skill and character of students by normal schooling.’ Though not explicitly defined under GST Act, ‘Education’ has been classified in the heading of 9992 of Service […]
RCMC is a certificate that validates an exporter dealing with products registered with an agency/ organization that are authorised by the Indian Government. For availing authorization to import/ export or any other benefit or concession under Foreign Trade Policy, exporters are required to obtain RCMC granted by the concerned Export Promotion Councils/ FIEO/Commodity Boards/ Authorities. […]
1. Recently, Prime Minister Shri. Modiji had announced the ‘Atmanirbhar programme’ which aims to create enough local production to meet local demand. The invention of such scheme was understood during such pandemic wherein, majority of our local demand was depended upon foreign markets and due to lockdown across the globe acute shortage was created. In […]
COMPOSITE SUPPLY Composite supply means a supply made by a taxable person to a recipient -consisting of two or more taxable supplies of goods or services or both, or any combination thereof, -which are naturally bundled -and supplied in conjunction with each other -in the ordinary course of business, one of which is a principal supply. Principal […]
