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Archive: 18 January 2024

Posts in 18 January 2024

Contrasting Corporate Governance Styles in India & UAE: A Comparative Analysis

January 18, 2024 549 Views 0 comment Print

This article delves into the distinct styles of corporate governance in India and the United Arab Emirates (UAE), shedding light on their unique approaches and regulatory frameworks.

Personal Income Tax and Compliance Costs: A Critical Study

January 18, 2024 1527 Views 0 comment Print

The scope of this article is primarily focused on the compliance of individuals with the tax system, excluding corporate entities and other legal persons. The objective is to assess the overall impact of compliance costs on a broader scale by applying determinants of compliance costs to various categories of taxpayers.

ITAT deletes unexplained cash credit addition of Rs. 3 crore, stemming from unsecured loans

January 18, 2024 4917 Views 0 comment Print

The appeal challenges the order dated 14th June 2023, passed under section 250 of the Income Tax Act, 1961. The primary issue revolves around the addition of Rs.3,00,00,000/- as unexplained cash credit on account of unsecured loans.

Taxation of Convertible Bonds: Rules and Capital Gains

January 18, 2024 1221 Views 2 comments Print

Explore tax implications of convertible bonds. Learn how conversions and subsequent sales are treated under Income Tax Act, 1961. Understand capital gains and exclusions.

Audit of Accounting Estimates: Procedures and Importance

January 18, 2024 1377 Views 0 comment Print

Explore concept of auditing accounting estimates, its procedures, and importance in financial reporting. Understand distinctions, subjectivity, and implications for auditors.

Madras HC Quashes GST Registration Cancellation Order Sans Personal Hearing

January 18, 2024 453 Views 0 comment Print

Madras High Court ruling on GST registration cancellation. Detailed analysis of V.S.K. Traders & Services case, the importance of due process, and the impact on businesses.

Data Pooling Impact on Competition Law: Pros, Cons & Solutions

January 18, 2024 234 Views 0 comment Print

Explore scope of data pooling under competition law, evaluating benefits, risks, and solutions. Learn how it alters business models and affects industry competitiveness.

Gratuity forfeiture is not automatic; it hinges on conditions outlined in Gratuity Act, 1972

January 18, 2024 603 Views 0 comment Print

Explore the Union Bank Vs CG Ajay Babu case (2018) on gratuity forfeiture. Detailed analysis on conditions, legal aspects, and judgment under Gratuity Act, 1972.

Process of closure of an LLP in India

January 18, 2024 1080 Views 1 comment Print

Learn the step-by-step process of closing an LLP in India. From assessing reasons to ROC approval, our guide covers legal, financial, and procedural steps for a smooth closure.

Delhi HC: Mutual Fund Transactions Treated as Investments, Not Business Activities

January 18, 2024 393 Views 0 comment Print

A pivotal ruling affirming ITAT’s stance on mutual funds transactions as investments and capital contributions not deemed as dividend under Section 2(22)(e) of the Income-tax Act for AY 2006-07.

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January 2024