"11 January 2023" Archive - Page 4

No addition towards notional rent as residential asset held as stock-in-trade

ACIT Vs Balkrishna Shanmugham Chettiar Alias S. Balan (ITAT Pune)

ITAT Pune held that addition of notional rental not sustainable as the residential assets held in stock-in-trade....

Penalty for non submitting MGT-14 for Board Resolution of approval of accounts

ADJ/06/RD (SR)/2022-23 11/01/2023

As per Sec. 117(3)(g) of the Companies Act, 2013, the provisions of this section shall apply to – (g) resolutions passed in pursuance of sub-section (3) of section 179. As per Sec. 179(3)(g) of the Companies Act, 2013, the Board of Directors of a company shall exercise the following powers on behalf of the company […]...

Penalty for not mentioning DIN on Form AOC-4 documents

ADJ/07/RD (SR)/2022-23 11/01/2023

As per Sec. 158(1) of the Companies Act, 2013, Every person or company, while furnishing any return, information or particulars as are required to be furnished under this Act, shall mention the Director Identification Number in such return, information or particulars in case such return, information or particulars relate to the director o...

GST Council Newsletter for the month of December 2022

In a move to reduce the compliance burden of taxpayers, the Council decided to take measures for decriminalisation of the existing provisions of law. The minimum threshold of tax amount for launching prosecution under GST has been raised from Rs. One Crore to Rs. Two Crore, except for the offence of issuance of invoices without supply of ...

Posted Under: Income Tax | ,

Fighting Poverty in India: Looking Beyond Printed Currency

Poverty in India cannot be solved by printing more currency notes. It requires a comprehensive strategy that involves economic growth, better public services, foreign aid, and targeted efforts to reduce inequity and inequality....

Posted Under: Income Tax |

Deduction of interest on loan to purchase a residential home for which possession is pending

Whether or not the assessee was entitled to a deduction for interest paid on a loan used to purchase a residential home since he had not taken possession of the property...

Posted Under: Income Tax | ,

An investigation of barriers & enablers to corporate law in developing countries

This research paper assesses barriers, enablers & implications of corporate law in developing countries. Discover how lack of legal infrastructure impacts corporate law & its effects on investment opportunities....

Posted Under: Income Tax |

Reserve Bank of India: Maintaining Price Stability of Indian Rupee

The Reserve Bank of India is tasked with maintaining the price stability of the Indian Rupee and regulating banking & financial institutions. Learn how the RBI works to achieve economic growth & low inflation....

Posted Under: Income Tax |

GST Applicability on Free Samples & Supplies

Learn more about the GST Applicability on Free Samples & Supplies in India. Does providing free or sample products count towards GST? What qualifies as a free sample?...

Posted Under: Income Tax |

7 Post Incorporation compliances for Private Limited Companies

Get to know the 7 post incorporation compliances required by private limited companies as per Companies Act, 2013. Learn how to ensure compliance with the first board meeting rules and setting up of a registered office address within 30 days....

Posted Under: Income Tax |

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