Payment received by assessee for supply of software products to IBM India Pvt. Limited without giving right to reproduction and commercial exploitation did not fall within the ambit of’ royalty’.
Budget 2019 has brought in amendments to the rules governing M&A transactions from a tax perspective – this article provides highlights of proposed changes.
Amendment of Registration in Core and Non-Core fields through a GST Practitioner TDS/TCS/NRTP/OIDAR/UN Body/Embassy/ONP Taxpayers can now select a GST Practitioner for filing of Amendment of Registration of Core and Non-Core fields. The GSTP can amend details and save the draft. The taxpayer would be able to work on the saved drafts of the application […]
Tax Deduction at Source (TDS) on payment by Individual/HUF to contractors and professionals under new section 194M At present there is no liability on an individual or Hindu undivided family (HUF) to deduct tax at source on any payment made to a resident contractor or professional when it is for personal use. Further, if the […]
During the process of submitting NFRA-1 form, user needs to have following details/documents before proceeding with form filling. In case of Indian Body Corporate: 1. PAN of Indian authorized individual 2. PAN of body corporate 3. DIN of Director/Membership No. of CS/PAN of Manager or CEO or CFO 4. Income tax PAN of auditor/audit firm […]
Assessee was not precluded from raising the issue of jurisdiction under section 153C, merely because it did not object to the same during assessment proceedings and participating therein, as the issue was purely a legal issue and could be raised at any time in the course of appellate proceedings.
Explanatory memorandum to Notifications No. 02/2019- Central Excise to 06/2019-Central Excise all dated 6th July 2019: – S. No. Notification No. Description 1. Notification No. 02/2019-Central Excise dated 6th July 2019 Seeks to further amend notification No. 11/2017-Central Excise dated 30th June 2017 so as to omit an entry with respect to chapter 24. 2. Notification No. 03/2019- […]
The Union Minister for Finance and Corporate Affairs Smt. Nirmala Sitharaman made her maiden Budget Speech today and presented the Union Budget 2019-20 before the Parliament. The key highlights of Union Budget 2019 are as follows:
Budget 2019-2020 Speech of Nirmala Sitharaman, Minister of Finance July 5, 2019 Mr. Speaker Sir, I rise to present the Budget for the year 2019-20. PART A 2. The recent election which brought us to this august House today, was charged with brimming hope and desire for a bright and stable New India. Like never […]
Download Union Budget 2019-2020 / Finance Bill 2019 presented by Nirmala Sitharaman, Minister of Finance on July 5, 2019. THE FINANCE (NO.2) BILL, 2019. Download Finance Bill 2019-2020 as presented in Lok Sabha FULL TEXT OF THE THE FINANCE (NO.2) BILL, 2019 IN TEXT FORMAT IS AS FOLLOWS:- BILL No. 55 OF 2019 THE FINANCE […]
