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Archive: 09 February 2023

Posts in 09 February 2023

TDS on Salary deducted by employer allowable despite non-deposit

February 9, 2023 36459 Views 1 comment Print

Requirement to allow TDS credit on Salary is only of amount of tax deducted at source & not getting deposited with Government after deduction.

Share of profit received by LLP from partnership firm is exempt under Income Tax

February 9, 2023 17505 Views 0 comment Print

LLP is to be treated as a firm under Income Tax Act, 1961 and a firm can be a partner in other partnership firms therefore, LLP is eligible to exemption under Section 10(2A) on share of profit received from other partnership firms.

SEBI’s Proposals To Protect The Public Shareholders Under CIRP

February 9, 2023 2667 Views 0 comment Print

When a company goes through insolvency proceedings, public equity shareholders (non-promoter public shareholders) are the ones that profit least since they are not considered creditors who are protected by IBC 2016

Section 43B of Income Tax Act, 1961 read with Finance Act, 2023

February 9, 2023 48297 Views 1 comment Print

Explore Section 43B of Income Tax Act, 1961, amended by Finance Act 2023. Learn about deductible sums, due dates, and the latest inclusion for payments to micro and small enterprises.

TDS on Purchase of Immovable property in India

February 9, 2023 62730 Views 3 comments Print

Understand TDS implications on purchasing immovable property in India. Learn about rates, forms, and legal aspects to comply with Income Tax Act for seamless property transactions.

Release of new module for filing of information on BSE under LODR Regulations

February 9, 2023 5709 Views 0 comment Print

Release of new module for filing of information required under Regulation 46 and 62 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 on BSE Listing Center

Important GST Amendments In Budget 2023

February 9, 2023 56916 Views 0 comment Print

Explore vital GST amendments introduced in Budget 2023. From composition scheme enhancements to ITC reversal changes, stay informed on critical updates affecting businesses and compliance.

Determining Full Value of Consideration in case of Slump Sale – Section 50B

February 9, 2023 1539 Views 0 comment Print

Understand how to determine the Full Value of Consideration in a Slump Sale under Section 50B of the Income Tax Act. Learn about methods and rules for calculating capital gains.

All About Strike Off of Company under Companies Act, 2013

February 9, 2023 14901 Views 1 comment Print

When the company incorporates, its name is registered in the register of company by the registrar of the company and the company may by application or the registrar (suo moto) may strike off the name of the company from the register of companies in some circumstances.

No Penalty u/s 271(1)(c) when Quantum and Enhancement by CIT(A)-Deleted in Quantum Appeal

February 9, 2023 2943 Views 0 comment Print

Victory for Sanjay Duggal as ITAT Delhi quashes assessments under 153A, nullifying penalties. Learn why the penalty orders couldn’t survive. Decided in favor of the assessee.

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February 2023