As per the provisions of Section 10A(6) or 10B (6) of the Income-tax Act, 1961, before their amendment, vide Finance Act, 2003, the undertakings were not permitted to carry forward their business losses and unabsorbed depreciation for set-off against the profits and gains of an assessment year (AY) immediately succeeding the last of the relevant assessment years or subsequent assessment years, viz. AY 2010-11
Section 80-IA of the I.T. Act, 1961, grants deductions in respect of profits and gains from Industrial Undertaking or enterprises engaged in Infrastructure Development, etc. As per section 80-IA (1), where the gross total income of an assessee includes any profits and gains derived by an undertaking or an enterprise from any business referred to in section 80-IA (4), there shall be allowed,
Section 135 of the Companies Act, 2013, Schedule VII of the Act and Companies CSR Policy Rules, 2014 read with General Circular No. 21/2014, Dated: 18th June, 2014 issued by the Ministry of Corporate Affairs, provide the broad contour within which eligible Companies are required to formulate their CSR policies including activities to be undertaken and implement the same in the right earnest.
A driver with an accident-free record can make mistakes and end up in an accident. Persons with good demeanor can also commit crimes. Do not think a money conscious person will repay any money owed to others. Do not take the enemy’s strength for granted to make the wrong move. The person steering a car […]
#JanoTohMano In contemporary times, the idea of security, which is associated with traditional investments, is obsolete. While they do provide a sense of security yet the question is – is it a smart move on your part to shy away from huge returns which you can easily earn by investing in mutual funds? Well that’s for you to decide.
A large part of a tax-payer’s income goes away by way of Income-tax. For this reason tax- payer is always on the look-out of ways and means for minimising his tax liability. The best way to achieve this objective is to utilise the services of a tax-expert and get one’s tax-affairs so arranged within the four corners of taxation-laws, that his incidence of taxation is minimised.
As per S.11 of the Civil Procedure Code, no Court shall try any suit or issue between the same parties; which has been heard and finally decided. The doctrine of res judicata rests on the principle that one should not be vexed twice for the same cause and that there should be finality of litigation.
Simplify income-tax law with expert suggestions: learn about the basis of charge and income exempt from tax in a user-friendly way.
(S.192 Of The Income Tax Act) The present day employers, particularly large corporate employers, are a harried lot. The Government has found a new tool in the form of enlargement of the scope of Tax Deduction at Source (T.D.S.) for augmenting tax revenues. Vide Finance Act 1995 , the scope of T.D.S. has been vastly […]
Everything in the present world revolves around awareness, safety and precautions. Before entering into any deal or agreement, we do the due diligence like ascertaining others’ experiences, verifying the terms and conditions, and comparing with the similar products. All this is done to ensure that our money is spent wisely and usefully. One thing that […]
