Waiver of loan for acquiring capital assets could not be taxed as perquisites under section 28(iv) since receipts were in the nature of cash or money. Section 41(1) of the Income Tax Act does not apply since waiver of loan does not amount to cessation of trading liability. It is a matter of record that the assessee had not claimed any deduction under section 36(1)(iii) of the IT Act qua the payment of interest in any previous year.
Only a land in which the building is completely constructed stands excluded under the exclusionary provision under Explanation (1 )(b)(ii) of Section 2(ea) of Wealth Tax Act, 1957
Based on the recommendations of SMAC, it has been decided to review the mechanism of dividend adjustment for stock options. The adjustment in strike price shall be carried out in the following cases of declaration of dividends
Customs Rate of Exchange of Foreign Currency Conversion wef 06.07.2018 notified vide Notification No. 60/2018 – Customs (N.T.) dated the 5th July, 2018
It has been decided to allow imports of Peas under Exim Code 0713 1000 against advance payments for that much quantity proportional to the part advance payment made before 25.04.2018.
The next elections to the Council and the Regional Councils of the Institute of Chartered Accountants of India are scheduled to be held on 7th and 8th December, 2018 in cities having more than 2500 members and on 8th December, 2018 at all other places
Whereas, the Protocol, amending the Convention between the Government of the Republic of India and the Government of the Republic of Armenia for the avoidance of double taxation and the prevention of fiscal evasion with respect to taxes on income which was signed at New Delhi on the 31st October, 2003, has been signed at New Delhi on the 27th January, 2016, as set out in the annexure appended to this notification and hereinafter referred to as the said amending Protocol
These rules may be called the Companies (Authorised to Register) Second Amendment Rules, 2018. They shall come into force with effect from 15th August 2018.
The de-activated DIN shall be re-activated only after e-form DIR-3-KYC is filed along with fee as prescribed under Companies (Registration Offices and Fees) Rules, 2014.
Central Government hereby appoints 15th August, 2018 as date from which provisions of Section 15,16,75 & 76 of Companies Amendment (Act) 2017 shall come into force.
