Discover the regulations and eligibility criteria for Indian entrepreneurs and investors looking to invest in companies outside India. Learn about direct and portfolio investments, regulatory frameworks, and the implications of the Foreign Exchange Management Act. Stay informed on the latest developments and opportunities in the global investment landscape.
CIT(A) and ITAT have set aside the assessment order on the ground that Rs.19 crore cannot be added as additional income of the Trust since exemption on corpus donation is allowed on purchase of land, as it is a purchase of capital asset.
Our database shows that, you have verified your E-filed Income Tax Returns, by sending signed physical copy of the ITR-V to CPC, Bengaluru. We would like to inform you about simplified electronic verification (EVC) process which is more secure, instant and hassle free. You may instantly E-verify the ITR, using any of the following options: […]
Explore the intricacies of insurance business audits with a detailed audit program, covering financial statements, legal obligations, and compliance with Acts and regulations. Learn about premium verification, claims assessment, and commission scrutiny, ensuring a comprehensive understanding of insurance audit areas.
ITO Vs Nithyasudha Combines (ITAT Chennai) The next point for consideration is whether the unexplained partners’ capital is assessable in the hands of the assessee or not in terms of section 68 of the Act. Section 68 of the Act can be invoked only when there is a credit in the books of account maintained by the […]
Marriott International Inc Vs DCIT (ITAT Mumbai) The only issue involved in this appeal is that income of royalty arising out of the above trademark of ‘brand’ Marriott’ is taxable in the hands of the assessee or not. Now, assessee has given a registration certificate dated 21st august, 2006 and covers above assessment years. No […]
O 2020 introduces new clauses and enhances reporting requirements compared to CARO 2016. Key changes include reporting on material uncertainty around liabilities, adequacy of internal audit, whistle-blower system, and more. Despite increased reporting, CARO 2020’s applicability remains similar to CARO 2016. This comparative summary details the changes in each clause, helping you navigate the updated requirements for a comprehensive audit.
Goldman Sachs Services Pvt. Ltd. Vs DCIT (ITAT Bangalore) Admittedly, the assessee deducted tax at source u/s.192 of the Act, on the 100% salary paid to the seconded employees, and paid the same to the credit of the Central Government. The assessee only reimbursed part of the salary cost of the seconded employee to overseas […]
KRBL Ltd. Vs DCIT (ITAT Delhi) During the course of assessment proceedings, the appellant submitted that the cash purchases were made by it from Mandi Samitis located across UP from farmers and hence did not fall under the ambit of the provisions of section 40A(3) of the Act, as the same were covered by Rule […]
UltraTech Nathdwara Cement Limited Vs Commercial Taxes Officer (Rajasthan High Court) In terms of Section 31 of the Insolvency and Bankruptcy Code, 2013, the resolution plan, approved by the NCLAT, is binding on all stakeholders including the Operational Creditors, Financial Creditors and the Statutory Creditors, including the respondent Corporate Taxes Department and all claims and dues […]
