TCS ON SALE OF GOODS UNDER SECTION-206C(1H): The Finance Act,2020 had inserted a new section 206C(1H) with effect from 1st October 2020.It applies to any seller who receives any consideration for sale of any goods of the value exceeding rupees fifty lakhs in any previous year. The seller shall collect from the buyer, a sum […]
Section 2(62) of the Companies Act, 2013 defines an OPC as a company which has only person as a member. The very concept of an OPC is that it shall have only one member. Only an individual can form an OPC. The minimum and maximum number of member in an OPC is one. The minimum […]
Electrotherm (India) Ltd. Vs DCIT (ITAT Ahmedabad) Conclusion: Since AO after applying his mind on information received from VAT Department arrived at the conclusion, based on the reasons to believe that income of assessee had escaped assessment. and at the time of issuing notice under section 148 AO had formed prima facie opinion for escapement […]
