THINKING OF OPENING “LLP” IN INDIA? HIGHLIGHTS √ SEPARATE LEGAL ENTITY √ INCOME TAX @31.20% AFTER DEDUCTING PARTNERS REMUNERATION AND INTEREST IF ANY. √ NO TAX TO PARTNERS ON LLP ‘S PROFIT SHARING – 100% EXEMPT √ LIBERAL RULES FOR FOREGIN CITIZENS/NRI/ INDIAN ORIGIN. IF NON-REPATRIABLE BY NRI/OCI, CONSIDER ...
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Free trade agreements (FTAs) with the developed world an important agenda of Modi government. Textile Industry has a big role in making FTAs a success: Shri Piyush Goyal ...
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Money received by individuals for Covid-19 treatment or ex-gratia received by family members on death due to Covid-19 would be exempt from income tax....
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Amended Schedule-III & CARO 2020 is applicable on Statutory Companies Auditor’s Report which is to be prepared for Financial Year 2021-22. ...
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Grandfathering clause means an old provision in law continues to apply on certain existing situations corresponding to new provisions which has been introduced to apply to all the future situations....
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Oil and Natural Gas Corporation Limited Vs ITO (ITAT Ahmedabad) -
Held that TDS not deductible when neither any patent or copyright was used by the assessee against which the royalty was paid nor there was any technical know-how made available to the assessee....
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SVM Builders Pvt. Ltd. Vs DCIT (ITAT Indore) -
Held that addition u/s 68 unsustainable as all the necessary documentary evidences in support of genuineness of share capital submitted by the assessee....
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Abbott Healthcare Private Limited Vs ACIT (ITAT Mumbai) -
Held that non-compete fees, being an intangible asset, paid in accordance with the terms of the agreement is eligible for depreciation u/s 32...
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Softtouch Cosmetic (Mktg) P. Ltd. Vs ITO (ITAT Ahmedabad) -
Held that since the receiver has failed to establish the creditworthiness of the lender and genuineness of the transaction, addition u/s. 68 as unexplained cash credit sustainable....
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It Government of India has recognized Start- ups and introduced a flagship initiative – Start up India. Under this, the Start-ups are encouraged by giving many facilities and incentives and innovation and entrepreneurship in India is promoted. In India, Startups have occupied a important position in the economy and they are continuously...
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