TO START A NEW BUSINESS, NO. OF QUESTION COME IN OUR MIND WHICH NEED TO KNOW BEFORE STARTING A BUSINESS AND TO GROW YOUR BUSINESS WITH LAW AND COMPLIANCE ANS ANSWERS TO ALL THAT QUESTIONS IN BELOW TABLE. BASIS Sole Proprietorship Partnership Firm Limited Liability Partnership (LLP) Private Limited Company Minimum Person involved Only one […]
Meaning of FLA Return Annual Return on Foreign Liabilities and Assets required to be filed by an Indian Company and LLP to RBI within the prescribed due date. This Return is filed Online on RBI Portal i.e. https://flair.rbi.org.in/fla/ Requirement to file FLA Return:- The Companies (includes Partnership Firms/ LLP’s, etc) which have received FDI (Foreign […]
Applicability of Equalisation Levy as per section 165: -Where service provider is a Non Resident. -Service Recipient is Resident in India and Carrying business or profession -Amount of Consideration exceeding Rs 1 Lakhs in a P.Y. -Services used in India for carrying out business or profession. Applicability as per Section 165A: Service provider/Seller of […]
In re The Varachha Co Op Bank Ltd [Advance Ruling No. GUJ/GAAR/R/37/2021 dated July 30, 2021], M/s. The Varachha Co Op Bank Ltd (Applicant) having undertaken construction of their New Administrative Office has sought an Advance Ruling on applicability of Input Tax Credit (ITC) on Services like Central Air Conditioning Plant, New Locker Cabinet, Lift, […]
In Aswathanarayana & Eswara v. Deputy Commissioner of Income-tax, Circle-I, Chennai [ Tax Case Appeal No. 409 of 2009 dated March 30, 2021], Aswathanarayana & Eswara (Appellant) has filed the current appeal challenging the Order No. No. 550/Mds/2008 dated November 21, 2008 passed by the Hon’ble Income Tax Appellate Tribunal (ITAT) regarding confirmation of disallowance […]
Department issued orders to the assessees for not discharging service tax liability in relation to ‘take away/parcel services’ till June 2017. The assessee aggrieved from the impugned order of the Department preferred the writ petition before the Hon’ble Court.
Fortis Hospitals LTD. Vs ACIT (Delhi High Court) The appellant had entered into a Business Transfer Agreement with Wockhardt Hospitals Ltd. on 24.08 .2009, for acquiring a business division of Wockhardt Hospitals Ltd. consisting of ten hospitals situated in the cities of Bangalore, Kolkata and geographical limits of Eastern Mumbai. The appellant claims to have […]
Union Bank of India Vs DCIT (ITAT Mumbai) We find that AO has withdrawn, the relief granted u/s. 14A in the assessment order by mentioning that subsequently order of Hon’ble Supreme Court in Maxopp Investment Ltd. 402 ITR 640 has come. Accordingly, he has effectively made the disallowance us/.14A u/s 154 of the Act. We […]
Association of Diplomate of National Board Doctors (Petitioner) has filed the current writ petition for quashing of Notification imposing of 18% Goods and Services Tax (GST) on fee deposited by Diplomate of National Board (DNB) students.
Applicability As per MCA notification dated 16 Feb 2015 FY 2016-17 – Listed and unlisted companies both with net worth above Rs. 500 Crores FY 2017-18 – All listed companies and unlisted companies with net worth above Rs. 250 Crores Paragraph D2 of Ind AS 101 Encouraged, but not required to apply Ind AS 102 […]
