Understand the step-by-step process for converting a private limited company into an LLP. Learn about eligibility, required forms (RUN-LLP, MGT-14, FiLLiP, Form 18, Form 3), and key considerations for this conversion.
Taking the first step towards mutual fund investments is often a thoughtful approach to building long-term wealth. But choosing the right fund goes beyond just looking at past performance.
ITAT Delhi held that deeming fiction of section 2(22)(e) of the Income Tax Act cannot be attracted when loan or advances are made to person not being shareholder. Accordingly, CIT(A) rightly deleted the addition and hence appeal filed by revenue dismissed.
NCLAT Delhi held that continuing Corporate Insolvency Resolution Process [CIRP] not justified as Corporate Debtor has sufficient funds to discharge the admitted claims of CoC. Thus, adjudicating authority rightly terminated CIRP of Corporate Debtor.
AO however, held that STCG on the sale of rights entitlement was to be taxed as “sale of shares” under Article 13(5) of the India-Ireland DTAA, making an addition towards STCG as taxable in India.
The Karnataka High Court upheld revision proceedings in the PCIT v. TE Connectivity India Pvt. Ltd. case, ruling that the absence of a detailed order on commission payments/discounts in the original assessment rendered it erroneous and prejudicial to revenue. The court emphasized the need for explicit findings.
Assessee had joined the Central Excise Department in 1978 based on a Scheduled Tribe (ST) certificate stating he belonged to the Katunayakkan community, which was recognized under Article 342 of the Constitution
Understand GST on renting immovable property in India, including Reverse Charge Mechanism (RCM), exemptions for residential use, and Input Tax Credit (ITC) applicability.
The Income Tax Appellate Tribunal (ITAT) has remanded a case involving Shree Bhandari Gnyati Mandal, challenging the denial of 80G registration. The ITAT directs re-verification of the trust’s expenditure on religious activities.
The Delhi High Court has ruled a GST demand order against a deceased proprietor invalid, mandating show cause notices be issued to legal representatives for tax determination.
