"23 October 2021" Archive

Tax on Transfer of Development Rights: An Indirect Tax Perspective

1. Meaning of Transfer of Development Rights (‘TDRs’) To understand the meaning of TDRs, first of all one needs to understand the working style under the real estate sector. Under this sector various kinds of Joint Development Agreements have been entered between various parties. One such type is TDRs, where landowner offers rights in...

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उपभोक्ता संरक्षण कानून क्यों चला गया हाशिये पर!

केन्द्र और राज्य सरकारों की उदासीनता और निष्क्रियता के कारण भारतवर्ष में जिला एवं राज्य उपभोक्ता फोरम में अध्यक्ष और सदस्यों के ...

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An Insight to Government Grants Act, 1895- Scope & Ambit

It is a general and natural duty of the Sovereign to take steps towards areal development of its territories and its subjects. That is the basic reason behind creation of governance system within a territory. In past, when most of the world was witnessing monarchy as the most prominent form of governance, it was considered […]...

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The new definition of Small Company

The new definition of Small Company- Know whether your company falls into Small Companies The Ministry of Corporate Affairs has notified an amendment in the Companies (Specification of Definitions Details) Rules, 2014 that came into force on 1st April 2021. The MCA (Ministry of Corporate Affairs) has effected this amendment in accordance ...

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Right Issue of shares

RIGHT ISSUE OF SHARES The concept of Right issue of shares is governed by section 62(1)(a) of the Companies Act, 2013. The said section deals with provision related to increase in subscribed share capital of the Company by issue of further shares. In simple terms, Right issue of shares means offer of shares to all […]...

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Affidavit submitted by Assessee cannot be rejected without any plausible reason

Ashok Kumar Banthia Vs DCIT (ITAT Jodhpur)

Ashok Kumar Banthia Vs DCIT (ITAT Jodhpur) It is also an admitted fact that the affidavit filed by Shri Ashok Todi, which is at page No. 13 of the paper book who was director of M/s Lux Industries Ltd. had categorically admitted that on 19/04/2011, the assessee was carrying amount of Rs. 25.00 lacs in […]...

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Taxation of Co-Operative Society

Section 80P: Deduction in respect of Income of Co-operative Societies In case of all co-operative societies, except co-operative banks (excluding a primary agricultural credit society or a primary co-operative agricultural and rural development bank), full deduction is allowable in respect of the following income: A.Where 100% deduction i...

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Income Tax Ready Reckoner for 21-22 (An E-Book)

This e-BOOK is an attempt to summarize Important topics of INCOME TAX ACT  and present it as a quick ready reckoner. E-book is result of Notes which I have been preparing as a quick summary throughout the last 10 years....

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Whether properties rented for earning renting income by a company in all cases will be considered as income from house property?

 Whether properties rented for earning renting income by a company in all cases will be considered as income from house property? In this article we are going to discuss an important judgement of the Supreme Court in which it was held that renting of property and rent income in all cases will not be considered […]...

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