As per section 49 of the Act, where the capital asset became the property of the Assessee on any distribution of assets on the total or partial partition of a Hindu undivided family etc. etc. etc., the cost of acquisition of the asset shall be deemed to be the cost for which the previous owner of the property acquired it, as increased by the cost of any improvement of the assets incurred or borne by the previous owner or the Assessee, as the case may be.
Government is providing all round support to domestic toy industry to make them more competitive. Some of the measures include promoting Made in India toys
SEBI KYC records of all existing clients (who have used Aadhaar as an OVD) to be validated within 180 days from November 01, 2022.
Whether imports through air mode are exempted from registration under NFMIMS? Whether multiple consignments against a NFMIMS registration can be imported within validity period of NFMIMS Registration?
Representation to extend the due date of filing Income Tax Returns u/s 139(1) of the Income Tax Act, 1961 in non-audit cases from 31st July, 2022 to 31st August, 2022 by Sikar Tax Bar Association. Sikar Tax Bar Association, Sikar To, Date: 24th July, 2022 Smt. Nirmala Sitharaman Chairman, Goods and Service Tax Council and […]
The price situation of major essential commodities is monitored by the Government on a regular basis and corrective action is taken from time to time.
Russia-Ukraine conflict, soaring crude oil prices and tightening of global financial conditions are major reasons for weakening of Indian Rupee against the US Dollar While the Indian Rupee has weakened against the US Dollar, it has strengthened against other major currencies such as the British pound, the Japanese yen and the Euro during 2022. This […]
During preceding 3 years (2019, 2020, 2021) registration certificates of 1811 number of Associations have been cancelled under the provisions of the Foreign contribution Regulation Act, 2010 (FCRA 2010). Reasonable opportunity of being heard is given in terms of Section 14(2) of FCRA 2010, by issuing Show Cause Notice before a decision about cancellation of […]
NAA held that Jay Cee Chemists did not pass on the benefit of exemption of GST on Sanitary Napkin’s amounting to Rs. 2048 to Customers.
Dear Professional Colleague, As you may be kindly aware that the due date to file ITR Forms for certain assessees as specified in clause (c) of Explanation 2 to section 139(1) of the Income-tax Act, 1961 for Assessment Year 2022-23 is 31st July, 2022 which is just round the corner and fast approaching. We are […]
