Understanding the concept of insider trading: Learn about the legal framework and regulations aimed at prohibiting insider trading.
FINANCE DEPARTMENT Madam Cama Marg, Hutatma Rajguru Chowk, Mantralaya, Mumbai 400 032, Dated the 4th February 2021. NOTIFICATION THE MAHARASHTRA STATE TAX ON PROFESSIONS, TRADES, CALLINGS AND EMPLOYMENTS ACT, 1975. No. PFT-1221/C.R. 2/Taxation-3.— Whereas the Government of Maharashtra is satisfied that circumstances exist which render it necessary to take immediate action further to amend the […]
Alkem Laboratories Limited Vs Union of India (Gujarat High Court) Recovery Proceeding under GST can be initiated only after 3 Months from the date of the service of the order A perusal of the provisions of Section 78, referred to above, would indicate that no recovery proceedings can be initiated against the assessee before the […]
A brief analysis of the provisions and how it may impact: Depreciation on Goodwill has been one long debatable issue. Even after Supreme Court Judgment in the case of Smiff Securities Limited wherein the Supreme Court of India held that goodwill of a business is a depreciable asset, taxman have been issuing notices to companies […]
Finance Act, 2021 proposes to amend provisions of Section 10(23C) and 11 of the Income Tax Act, 1961 to resolve few anomalies and plug loopholes in the provisions regulating charitable institutions’ taxation.
Amid the path for recovery from the most traumatic COVID 19 pandemic and lockdown is being carved, the Union minister for Finance and corporate affairs, Nirmala Sitharaman presented Union Budget 2021 on 1st February, 2021. Let’s have a look at the Key highlights or Key takeaways of the Union Budget 2021-22. The Key Highlights of Union […]
Shri Lakshmi Narayana Prasad Vs ITO (ITAT Bangalore) In this case, the claim of assessee u/s. 54 was denied on the reason that assessee has not filed any supporting evidence to show the sale consideration was reinvested in new residential property. Before us, the ld. AR pointed out to the copies of bank statements and […]
Under section 165A of Finance Act, 2016, as inserted by section 153 of the Finance Act, 2020, Equalisation Levy is to be levied at the rate of two per cent. of the amount of consideration received or receivable by an e-commerce operator from e-commerce supply or services made or provided or facilitated, by it- (i) […]
Section 50B of the Act contains special provision for computation of capital gains in case of slump sale. Sub-section (42C) of section 2 of the Act defines ‘slump sale’ to mean the transfer of one or more undertakings as a result of sale for lump sum consideration without value being assigned to individual assets and […]
At present most of the Companies or foreign nationals are very much interested to expand their business in India for exploring Indian market and to promote parent company’s business activities. India would be the right platform for carrying business and explore trade opportunities as Indian Market provides a very sustainable environment for any type of […]
