Where monies were advanced through the mechanism of equity participation, the intention of the lender – in the present case, the assessee, was to derive income rather than to increase its investment on the capital Such being the case, if there were profits, with the assessee/lender from the investment, it would properly lie in the Revenue side of income
Assessee had claimed deduction u/s 10(13A) of 1961 Act which is a wrong claim as no rent was paid by the assessee and the said alleged rent of Rs. 31,500/- per month being paid to mother was shown only to take exemption of HRA u/s 10(13A) of 1961 Act.
I have noticed many of us facing the issue of not reflecting challan details or amount paid details in the Mvat draft return for VAT, CST, PT and luxury tax return filling for April 2016 onwards.
The Honorable President of India has already given his assent to four supporting legislations on GST i.e. CGST, IGST, UTGST and Compensation Cess after getting it passed by both the houses of parliament paving the way of rollout of GST from 1st July 2017.
In pursuance of clause (3) of article 348 of the Constitution of India, the following translation in English of the Maharashtra Tax Laws (Levy, Amendment and Validation) Act, 2017 (Mah. Act No. XXXI of 2017), is hereby published under the authority of the Governor.
Tender Document For Hiring Of Internal Auditors For MSTC Limited For The Financial Year 2017-18.Schedule of Tender, NIT, Eligibility Criteria/Evaluation Criteria, Terms and Conditions, Tender Submission, etc is given below
Tender Document For Engagement Of Professional Consultant For Implementation Of Goods & Services Tax (GST) with MSTC LIMITED. Schedule of Tender, NIT, Eligibility Criteria/Evaluation Criteria, Terms and Conditions, Tender Submission, Payment Terms, etc are given below
In my earlier article I have made a discussion about the disallowance when the amount is payable to a non-resident /foreign company but TDS is not deducted by the payer . Section 40(a)(ia) deals with the situation when the amount is payable to a resident . Hereon also we will discuss the complete scenario in parts to have a better understanding .
Few Hon’ble Members of the Institute informed that they and their client companies have received letters/notices from the Courts and/or from the Cost Audit Branch or Registrar of Companies, Ministry of Corporate Affairs. These relate to purported non‐compliance with the provisions of Section 148 of the Companies Act, 2013
THE PROCEDURE FOR INITIATING THE CORPORATE INSOLVENCY RESOLUTION PROCESS (CIRP) UNDER THE PROVISIONS OF THE INSOLVENCY & BANKRUPTCY CODE IS EXPLAINED BELOW: Source- http://www.ipaicmai.in/IPA/Upload/Newsletter-01-15042017.pdf
