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Archive: 25 May 2022

Posts in 25 May 2022

Join Us for an Exclusive Webinar: GST on Corporate Guarantees

December 4, 2024 2439 Views 0 comment Print

Join us on 8th Dec for a live webinar on GST and corporate guarantees. Learn valuation, co-guarantor liability, cross-border impacts, and practical examples.

Course on Mastering GST Sections Effortlessly with Memory Techniques!

November 28, 2024 5073 Views 0 comment Print

Simplify GST learning with memory techniques. Join live sessions, master CGST sections, and retain knowledge effortlessly. Register now for practical GST mastery!

Once insolvency petition is admitted, moratorium effect is to be given to pending suits or proceedings as per section 14

May 25, 2022 3006 Views 0 comment Print

Srei Equipment Finance Limited Vs Additional / Joint/ Deputy / Assistant CIT (Calcutta High Court) Facts- The appellant had filed the writ petition challenging the notice dated 23rd March, 2022 which is an opportunity granted to the assessee to show cause as to why the proposal made in the notice by way of giving effect […]

Assessment order passed, without timely service of notice u/s 143(2), is null & void

May 25, 2022 2379 Views 0 comment Print

ITO (Exemption) Vs Innovative Welfare and Educational Society (ITAT Delhi) Facts- The Assessee had filed its ROI on dated 31.03.2006 by declaring Nil income which was processed and resulting into passing of the assessment order u/s 143(3) of the Act on dated 21-09-2007. Later on it came to the knowledge of the AO that the […]

TNMM is most appropriate method for determining ALP for payment of license & management fees

May 25, 2022 1518 Views 0 comment Print

TPO /DRP in their order has expressed an inability to compute the ALP using CUP due to a lack of information in the public domain. Given the difficulty / impossibility in computing ALP using CUP and considering the close nexus between the manufacturing activity and payment of management / license fees, the method to be adopted for benchmarking the above international transactions by the assessee ought to be TNMM.

Section 54F Exemption allowable even if new residential house is purchased in wife’s name

May 25, 2022 21396 Views 0 comment Print

We observed that the exemption was claimed U/s 54F of the Act on this account is Rs. 6,33,190/-. It is further noticed that the Assessing Officer has not disputed the purchase of new house in the name of wife of the assessee though the claim was denied by the AO.

Not yet linked your Adhaar with PAN? Here are the consequences..

May 25, 2022 4308 Views 1 comment Print

Discover the consequences of not linking your Aadhaar with PAN. Stay informed about the mandatory requirement and avoid potential penalties.

Section 11 & 12 Exemption allowable to Surat District Cricket Association

May 25, 2022 888 Views 0 comment Print

When the assessee’s main dominant and prime objective was to promote the sports was not desire to earn profits but, object of promoting sports for Nation, it was clearly a charitable purpose. Assessee was entitled for exemption under section 11.

Basics of Banking: Reconciliation Set Up & Process at Banks

May 25, 2022 2694 Views 0 comment Print

Learn the basics of banking reconciliation setup and process at banks. Understand how inter-office accounts are managed and reconciled in the CBS environment.

Amendment In Related Party Disclosures WEF 1.4.2022 vide SEBI LODR Regulations

May 25, 2022 6777 Views 0 comment Print

Understanding the new SEBI LODR regulations and amendments regarding related party disclosures effective from 1st April 2022.

How to save tax on Capital Gains from sale of Shares or Mutual Funds?

May 25, 2022 50013 Views 2 comments Print

Discover effective techniques to save tax on Capital Gains from the sale of Shares or Mutual Funds. Maximize your investment returns with smart tax planning strategies.

Tax Benefit from Electric Vehicle

May 25, 2022 5649 Views 0 comment Print

Discover the tax benefits of owning an electric vehicle in India. Learn how to claim deductions under section 80EEB of the Income Tax Act.

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