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Presently, rebate is allowed u/s 87A of Rs. 12,500/- in old regime of Income Tax, if any resident individual whose total income during the previous year does not exceed Rs. 5,00,000. Rebate is available only to the extent of Rs.12,500, and if total income exceeds Rs. 5,00,000 no rebate will be available.
Merchant Export is an activity of a trader (i.e. Merchant Exporter) who purchases the goods from the registered supplier and exports them outside of India. A Merchant Exporter does not have a manufacturing unit so he buys goods from a manufacturer/trader and then ships them to foreign customers.
Section 185 of the Companies Act 2013 Specifically provides about the Provisions related to Loan to directors by the company. In this article we will understand about the provisions with their clear examples.
Understand the eligibility criteria for filing Corporate Insolvency Resolution Process (CIRP) under the Insolvency and Bankruptcy Code, 2016 (IBC 2016). Learn about the minimum default amount, who can file an application, and who is not entitled to initiate insolvency proceedings.
Explore the evolution and current status of Corporate Social Responsibility (CSR) in India. Learn about its history, key provisions, and recent amendments in the Companies Act. Understand the impact of CSR on various sectors, trends in CSR expenditure, and the significance of the Social Stock Exchange. Stay informed about the latest developments and regulations in CSR for effective corporate engagement in social responsibility.
Section 194IA, introduced in the Union Budget 2013-14, mandates a Tax Deducted at Source (TDS) of 1% on all transactions involving immovable properties valued at Rs. 50 Lakhs or above. To facilitate this, the PAN card number and details of both the buyer and seller are required.
Understanding the eligible options and their respective terms can help individuals make informed decisions while planning their investments and tax-saving strategies.
Explore the ITAT Delhi verdict on BLP Vayu’s share premium issue. Assessment under Section 263 challenged. Learn about the intricacies of Section 56(2)(viib) and its applicability.
Delhi High Court held that CCI does not have jurisdiction over Continuing Professional Education (CPE) activities of ICAI
Find out everything you need to know about Equalization Levy, including the specified services and e-commerce supplies subject to the levy. Learn about the due dates for payment and the repercussions for non-compliance. Discover the process for filing the annual return in Form 1, penalties for late filing, and the possibility of revising the statement.
