Under section 115QA of the Income-tax Act, 1961 (the Act), additional Income-tax at the rate of 20 percent is levied on the distributed income arising out of buy back of unlisted share by the company. The distributed income was defined to be the consideration paid by the company on buy back of shares as reduced by the amount which was received by the company for issue of such shares.
Introduction Getting into the day to day work, we never thought what we missed yesterday or what we can plan for tomorrow. We at Hubco.in, always receives queries from budding entrepreneurs and people serving under employment related to Tax planning and from there we get to know that these are the problem of masses. Based […]
Categories of Government servants to whom the rules apply.- Save as otherwise provided by or under these rules, these rules shall apply to persons appointed to civil services and posts in connection with the affairs of the Union whose pay is debitable to the Civil Estimates as also to persons serving in the Indian Audit and Accounts Department.
The Government, after consideration, has decided to accept the recommendations of the 7th Central Pay Commission in respect of the categories of employees covered in its Terms of Reference contained in the aforesaid Resolution dated the 28th February, 2014 in the manner as specified hereinafter.
When life gives you lemons, make lemonade is a common phrase that best describes the unpleasant unexpected occurrences that life throws at you. As an achiever, you need to plan ahead and create a growth funnel that will enable your family to be financially strong even in your absence.
The Income Tax Department has received information about large value transactions relating to you under the Annual Information Return (AIR) without a valid PAN. The list of such transactions is provided. You are requested to submit the on-line response as under:
Startup India Portal and Mobile App: These have been launched as online platform for providing updates, information, recognition and eligibility certificates to Startups and other stakeholders
In exercise of the powers conferred by sub-section (2) of section 123 of the Customs Act, 1962 (52 of 1962), and in supersession of the Notification of the Government of India in the Ministry of Finance (Department of Revenue) No. 204/84 –Customs, dated the 20th July, 1984, the Central Government hereby specifies the following other classes of goods, for the purposes of the said section, namely:-
Classification of Various Business Models under E-Commerce as Electronic Commerce Operator, Aggregator or otherwise-I had classified general activities of E-Commerce portals under the following two broad categories as E-Commerce platforms engaged in or facilitating buying or selling of goods and E-Commerce platforms engaged in providing or facilitation of services. The detailed analysis vis-a-vis two broad categories and further sub-categories is as follows:
Provisions of Chapter XV of the Companies Act, 2013 (‘the Act’) have not yet been put into operation. As a result of which the powers of companies to compromise or make arrangements with creditors and members are still being governed by the provisions of sections 391 to 394 of the Companies Act, 1956 (‘1956 Act’)
