Where assessee did not have any exempt income during the year and investments being held by it were in the nature of Strategic Investments, no disallowance under section 14A could be made.
Completed assessments can be interfered with by AO while making assessment under section 153A only on the basis of some incriminating material found during the course of search. Since no incriminating material was unearthed during the search, no additions could have been made to the income already assessed.
Lakhs of people have received their maturity proceeds under LIC Wealthplus Insurance policies during the year ended 31-3-2018 and they have to submit their income tax return on due dates in this year on different dates according to their status.
FICCI conducted a survey of enterprises on completion of one year of GST implementation, seeking their views on impact of this major reform, besides gauging insights and views on some of the key issues and challenges that were or are being faced by enterprises post implementation of GST.
Article deals with Tax Benefit on Home loan under section 80C for Loan Principal Payment, Section 24 for Interest Payment, Tax planning of Home Loan & HRA.
The waiver of farm loans announced by the government of Karnataka (GoK) in the FY19 budget, in combination with the persistent high level of committed expenditure, will limit the states ability to rationalise expenditure and achieve a higher surplus in its revenue account, says India Ratings and Research (Ind-Ra).
My congratulations to all officers and staff for making it a grand success. It should mark the beginning of another year dedicated to making GST more tax-payer friendly, streamlining procedures and improving compliance.
It has been strongly and categorically recommended that legalising betting and gambling in India in the present scenario is not desirable, and that a complete ban on unlawful betting and gambling must be ensured.
Trading Members of the Exchange are hereby informed that the undermentioned 6 companies that have remained suspended for more than 6 months and whose status on the MCA website is reflected as under liquidation / liquidated would be delisted from the platform of the Exchange, with effect from July 4, 2018
When a Company issues FCCB, it incurs a liability to pay a larger amount than what is borrowed and such higher amount payable by the Company will be for the purpose of its business in order to generate funds for its business activities. The amounts so obtained are used by the Company for the purposes of its business. Hence the liability to pay the additional amount would therefore be revenue expenditure.
