Details of Presumptive Taxation Scheme For small taxpayers the Income Tax Act has framed three presumptive taxation schemes as given below: Provisions of Sec 44AB Audit of accounts of certain persons carrying on business or profession Every person – 44AB(a) carrying on business shall, if his total sales, turnover or gross receipts, as t...
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The Company’s Articles of Association (hereinafter referred to as ‘AOA’) give the Board of Directors the authority to appoint any person as an Additional Director at any time, who will serve until the next Annual General Meeting or until the last date on which the Annual General Meeting should have been held, whichever c...
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In the Company Act of 2013, a new concept known as the One Person Company was established (OPC). A minimum of two directors and two members are necessary for a private company, whereas a minimum of three directors and seven members are required for a public company. Previously, a single individual could not form a […]...
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Instruction No. 33/2022-Customs -
12/12/2022
Government has decided to allocate sugar mill wise export quota of 60 LMT of sugar for export for sugar season 2022-23 w.e.f. 01.11.2022 (list of the sugar mill is enclosed at annexure)....
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P. Chitra Vs ITO (ITAT Chennai) -
ITAT Chennai held that for the purpose of computing period of holding, date of allotment should be considered, but not the final sale deed executed for conveying the title and interest in the property....
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Insolvency Professionals to act as Interim Resolution Professionals, Liquidators, Resolution Professionals and Bankruptcy Trustees (Recommendation) (Second) Guidelines, 2022 December 12, 2022 Corporate Insolvency The Insolvency and Bankruptcy Board of India (Board) is required under the Insolvency and Bankruptcy Code, 2016 (Code) to recom...
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Instances of coercion, threats of arrest and forceful recovery of tax by officials during the time of search, inspection and investigation are often the subject of numerous writ petitions praying for a refund of the said amount....
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Smt. Tajinder Pal Kaur Vs ITO (ITAT Amritsar) -
Smt. Tajinder Pal Kaur Vs ITO (ITAT Amritsar) The assessee has challenged both the legal and factual grounds before the Bench. But during the appeal proceedings before the ld. CIT(A), the assessee had not challenged the legal grounds so there are first time challenging the issue before the ITAT. So, the entire legal ground was […]...
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Sh. Jagjit Singh S/o Inder Singh Vs ITO (ITAT Amritsar) -
Sh. Jagjit Singh S/o Inder Singh Vs ITO (ITAT Amritsar) Considering the order of the revenue authorities the assessee was not able to submit the confirmation from the sundry debtor, M/s AD Traders. The confirmation is annexed with the paper book of the assessee APB page no. 3. The assessee received SBN during demonetization period [&helli...
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Arjuna (Fictional Character): Krishna, what is reporting requirement of Inward and Outward Supplies HSN Code in GSTR-9? Krishna (Fictional Character): Arjuna, From FY 2021-22 onwards, it shall be mandatory to report HSN Summary for Outward Supplies in Table 17 at 6 digits for taxpayers having annual turnover in preceding FY above Rs. 5 Cr...
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