Understand the consequences of false entries in books of account. Learn about the penalty provisions introduced by Finance Act, 2020 to curb malpractices of issuing fake invoices.
In part I & II of this article, we tried to analyzed and understood provision of sub-section (1) and proviso of sub-section (1) of section 94B. In this part, we try to analyze and understand remaining portion of section 94B as below, 94B. (2) For the purposes of sub-section (1), the excess interest shall mean […]
In part I of this article, we tried to analyzed and understood provision of sub-section (1) of section 94B. In this part, we try to analyze and understand remaining portion of section 94B as below, Proviso to sub-section (1) Provided that where the debt is issued by a lender which is not associated but an […]
Thin capitalization refers to ratio of debt to equity. Where entity is heavily capitalized by debt, it consider to be thinly capitalized. In other word, it referred to a situation where an entity is highly geared. That is proportion of debt capital is much higher as compared to equity capital of an entity. Interest payment […]
As dividend become proposed to be taxable, litigation u/s 14A (Expenses incurred in relation to exempt income) now will be reduced. However, deduction of interest as proposed u/s 57 may lead to kind of litigation as was there u/s 14A.
