SC held that the Air Force insurance society qualifies as “State” under Article 12 because its administration, control, and functioning are closely linked with government authorities.
High Court held that consideration received for assignment of self-generated trademarks prior to 2002 amendment could not be taxed as capital gains because no cost of acquisition could be determined.
Inventory Valuation under the Income-tax Act, 2025: A Critical Area for Financial, Tax, and Cost Auditors – Analytical Study of Sections 268(5) and 277, Rule 171(2), Form 101 and the Interplay with Form 26
FAQs explaining AGM requirements, timelines, extensions, venue rules, and compliance under the Companies Act, 2013, including provisions for OPCs and ROC extensions.
Filing Form 18 is essential to obtain specified business status for housing projects. Without notification, tax benefits under Section 46 cannot be claimed.
Entities must file Form 17 to obtain approval for research-related tax benefits. Proper filing ensures eligibility and compliance with statutory conditions.
Form 16 certifies total donations made for scientific research and must be issued annually by prescribed institutions. However, deduction is subject to statutory conditions and verification by tax authorities.
Institutions receiving research donations must file Form 15 annually. Non-compliance may impact donor deductions and attract consequences under the law.
Form 14 provides formal approval of in-house R&D facilities by DSIR. However, deduction is allowed only upon fulfilment of statutory conditions and verification by tax authorities.
The document clarifies that furnishing the audit report is only a compliance requirement. Deduction is subject to further scrutiny by the Income-tax Department. This ensures accountability in claiming tax incentives.
