Grant of exclusive right to assessee by Mauritius Revlon to use the ‘know how’ in any plant in accordance with the processes, specifications and recipes thereof in connection with the manufacture, marketing, sale and distribution of Revlon Products would not fall in the definition of “intellectual property right‟ so as to make it taxable under section 65(105) (zzr) of the Finance Act.
The ICAI Council has decided to give an option to pay advance Membership/COP fee in exact amount for 10 years along with GST as a final payment and in case of any shortfall owing to revision of fee in future; their Name/COP will not be removed from the register of members on account of such revision.
Dematerialised or Demat account, is a digitized form of account which holds a customer’s portfolios of shares and other securities. It has annulled the requirement of holding physical share certificates. Demat is a trading account which was introduced in India in the year 1996, for National Stock Exchange (NSE) transactions. As per the SEBI guidelines, all the […]
As per section 56(2)(i), dividends are always taxed under this head. However, dividends from domestic company other than those covered by section 2(22)(e) are exempt from tax under section 10(34). Winnings from lotteries, crossword puzzles, races including horse races, card game and other game of any sort, gambling or betting of any form whatsoever, are always taxed under this head.
A big question arise in the mind of every professional that whether benefit of Indexation can be claimed on Inherited Property ; if yes then second half thought is whether it can be claimed from the year in which it is first held by the assessee or from the year in which it is occupied by the Previous Owner or predecessor.
Article explains What is Switching, Benefits of Switching, Tax effect of Switching If the units are held as stock-in-trade and Tax effect of Switching If the units are held as investments. Hi, almost all of us are aware of investing in Mutual Funds and their respective Tax effects. However, some areas still remain Grey for […]
Companies (Share Capital and Debentures Amendment Rules, 2020 MINISTRY OF CORPORATE AFFAIRS NOTIFICATION New Delhi, 5th June, 2020 G.S.R. 372(E).– In exercise of the powers conferred by sub-sections (1) and (2) of section 469 of the Companies Act, 2013 (18 of 2013), the Central Government hereby makes the following rules further to amend the Companies […]
The issue under consideration is whether the leasehold rights is considered as intangible assets and hence eligible for depreciation under section 32(1)(ii)? ITAT hold that the lease hold rights are not eligible for depreciation u/s.32(1)(ii) of the Act considering it as intangible rights and, accordingly, dismiss the ground of appeal of the assessee.
NPS withdrawals including partial withdrawal are allowed as defined under NPS exit regulations. NPS Subscribers who intend to withdraw are required to submit the duly filled-up withdrawal forms along with the Supporting documents to the associated Nodal officers/ Points of Presence (POP) for processing their request.
he claim of the contractor company for reimbursement of the amount of sales tax levied on the taxable turnover of the works contracts executed by it, i.e., with reference to the expression ‘completed item of work’ in the said Clause 45.2 and with reference to the stipulations contained in Clauses 13.3 of ITB and 45.1 of GCC, were wholly untenable and appellant and its contracting offices were under obligation to honour the claim so made by the contractor company.
