Article explains Overview of Section 80EEA, Eligibility conditions to be eligible for deduction under 80EEA, Calculation of Deduction under Section 80EEA with Examples and Taxability of the deduction under Section 80EEA.
Section 80IAC of the Income Tax Act, 1961 is an important provision for startups and small businesses looking to avail tax benefits. As per the section, a person is eligible for a deduction for profits for any one assessment year out of 10 assessment years.
Navigate the complexities of GST recovery with insights on initiation proceedings, practical aspects, notices, and payment options. Learn about deferred payment and provisional attachment. Stay informed with practical aspects and references.
Unlock the complexities of Advance Ruling under GST Law with insights into sections 95 to 106 and related rules. Explore the definition, benefits, and conditions for filing. Delve into case laws, including issues of jurisdiction, liability, and determination of place of supply.
National Centre for the Performing Arts Vs Union of India (Bombay High Court) It is not in dispute that the Petitioner has, prior to the issuance of the show cause notice, paid an amount of Rs.1,49,35,618/- electronically out of which a sum of Rs.1,09,06,948/- was deposited under the Accounting Code 00441480 as tax receipts and […]
While allowing deduction to pharma company, the free samples provided to doctors recognized under Uniform Code of Pharmaceutical Marketing Practices by The Department of Pharmaceuticals (UCPMP) guidelines were not violative of Indian Medical Council (MCI) Rules and distribution of free samples was directly related to business promotion activity of the pharmaceutical company. Thus it was wholly and exclusively for the purposes of the business of the company and could not be disallowed.
Playing cricket is the primary reason for which IPL was formed and promotional activities are ancillary to the main purpose that of playing cricket.
As per Section 92(1)(f) of the Companies Act, 2013: Every company shall prepare a return (hereinafter referred to as the annual return) in the prescribed form containing the particulars as they stood on the close of the financial year regarding – meetings of members or a class thereof, Board and its various committees along with […]
Company contravened with the AS-18 read with Section 129 read with Schedule III of Companies Act, 2013 thereby affecting true and fair view of state of affairs of Company from financial year 2016-17 to 2020-21. Auditor failed to comment on the same in audit report for aforesaid financial years.
Introduction of ISD is to distribute input tax credits on services among units of same entity having same PAN which supplies goods or services or both
