Tribunal has held that in case the income is to be computed as per sub-section (1A) of section 11 of the Act, if the net consideration for transfer of capital asset of a charitable trust is utilized for acquiring new capital asset, then the whole of the capital gain is exempt.
There are many features which make PPF an attractive investment vehicle for many a people right from getting deduction under 80C to being one of the safe instrument for providing long term wealth. Many of these features are often talked about and discussed but two things which are talked about in parts but not as a whole are why PPF is termed as EEE kind of investment and how effective rate of return one gets from PPF
SAILENT FEATURERS OF THE BUDGET SPEECH OF HON. FINANCE MINISTER SHRI SUDHIR MUNGANTIWAR ON WEDNESDAY, 18TH MARCH 2015 Part 1 Main Thrust Areas : Emphasis on dry land farming, accelerated development of infrastructure, removal of disparity, development of urban areas and generation of employment opportunities for youth. Stringent measures to enhance revenue collection and ensuring […]
Request to give your inputs on inclusion of PAN details of members in ICAI database- As we all are aware, every practicing Chartered Accountant is required to get himself registered on the E-filing portal for submission of various reports prescribed by the Income-tax Act, 1961. For the said purpose, ICAI shares certain limited database with the E-filing website.
In exercise of the powers conferred by Section 14 of the Customs Act, 1962 (52 of 1962), the Central Board of Excise & Customs hereby makes the following further amendments in the Notification of the Government of India, Ministry of Finance
Notification No. 24/2015 – Income Tax Whereas, an Agreement and Protocol (hereinafter referred to as the said Agreement and the Protocol) as set out in the Annexure to this notification, was entered into between the Government of the Republic of India and the Government of the Republic of Croatia for the avoidance of double taxation and for the prevention of fiscal evasion with respect to taxes on income that
eForm DPT-3- Return of deposits eForm DPT-3 is required to be filed pursuant to rule 16 of the of the Companies (Acceptance of Deposits) Rules, 2014 which are reproduced for your reference. Rule 16: Return of deposits to be filed with the Registrar: Every company to which these rules apply, shall on or before the […]
eForm MGT-15 for filing Report on Annual General Meeting eForm MGT-15 is required to be filed pursuant to section 121(1) of the Companies Act, 2013 and Rule 31(2) of Companies (Management and Administration) Rules, 2014 which are reproduced for your reference. Section 121(1): Every listed public company shall prepare in the prescribed manner a report on […]
Notice of situation or change of situation or discontinuation of situation,of place where foreign register shall be kept eForm MGT-3 is required to be filed pursuant to section 88(4) of the Companies Act, 2013 and rule 7(2) of the of the Companies (Management and Administration) Rules, 2014 which are reproduced for your reference.
Following are the steps for the calculation of Depreciation on existing Asset: 1. Find out useful life as per new schedule 2. Calculate already expired useful life 3. Difference of above two 4. Take Residual life at 5% of historical cost or as per management estimate (For value exceeding 5 % technical justification is required.)
