In spite of the pandemic and the war in Europe, India is going to contribute about 14 per cent of global growth. In fact, India is likely to be the second most important driver of global growth in 2022 after China.
After criticism on Tax Rate Reduction for Corporates Income Tax India has given following clarification on Twitter. It is to be noted that Tax Rate for Corporates been reduced to 22% while other category of Taxpayers Including, Individuals, HUF and Senior Citizens are not been given any relief by the Government – The corporate tax […]
Income Tax Department carried out a search operation on 03.08.2022 on two major groups engaged in the manufacturing of steel TMT Bars.
Held that building constructed as residential building and given on rent for residential purpose cannot be treated as commercial building for levying building tax.
Stay up-to-date with the latest NCLAT judgements on IBC 2016 for October 2021. Get a summary of the key findings in our comprehensive compendium.
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Central Consumer Protection Authority has issued Guidelines for Prevention of Misleading Advertisements and Endorsements for Misleading Advertisements, 2022 to provide for prevention of false or misleading advertisements and making endorsements.
Held that provision of deemed dividend u/s 2(22)(e) cannot be invoked unless the recipient of loan is a shareholder of the company. If recipient of loan is not shareholder in a company from which loan is received, such loan cannot be assessed as deemed divided.
Held that insufficiency of evidence or material is not a ground for setting aside an arbitral award. Income tax return is material evidence to establish the claim.
Held that payment of federal taxes on the different between FMV and the grant price establishes that assessee is paying tax treating the value of shares as perquisite. Accordingly, provisions of section 49(2AA) are applicable. Cost of acquisition of share cannot be FMV.
