Income Tax : One can set up either a public charitable trust, a registered society, or a Section 8 Company (a trust corporation). Each has it...
Company Law : Under Section 2(18) of the Income tax a company is said to be a company in which the public are substantially interested in the fo...
Income Tax : NGO’s or charity work in India can be carried out by various methods/forms of business, such as a Trust/ A society or by a Non-P...
Finance : Forming a, Trust or a Society, or a Company Generally speaking, any organisation that devotes its funds for public welfare is a no...
Company Law : Objectives of Company proposed to be formed under Section 8 of Companies Act 2013 should be to promote commerce, art, science, sp...
Company Law : Government is planning to relax exit norms for not-for-profit companies to allow them to de-register without having to follow cumb...
Company Law : The government today eased rules for incorporating not-for-profit companies, by giving the Registrar of companies the power to dir...
CA, CS, CMA : As you may be aware that the ICAI has taken a lead role in the development and promotion of XBRL in India and has accordingly set ...
Company Law : The government is planning to permit corporate houses to set up higher educational institutions -- like multi-disciplinary univers...
Income Tax : ITAT Delhi held that accumulation under section 11(1)(a) of the Income Tax Act is to be allowed at 15% of gross receipts. Accordin...
Excise Duty : The Settlement Commission held that the rectification of errors under Section 154 was confined to arithmetical or clerical errors ...
Goods and Services Tax : Madras High Court held that e-way bill containing address of additional place of business which is not registered under GST is onl...
Corporate Law : Therefore, even if the Notification under Section 5(1) of the Minimum Wages Act, 1948 is perceived to be a subordinate legislative...
Corporate Law : Hon’ble Supreme Court in the case of Gujarat Urja Vikas Nigam Ltd. has held that the NCLT cannot exercise its jurisdiction over ...
Company Law : Proposed guidelines for conversion of section 25 company (non profit company) to an ordinary company under Companies Act, 1956. -...
Allahabad High Court held that penalty under Section 54(1)(2) of the U.P. VAT Act, 2008 cannot be imposed in cases, wherein, the assessment is made on the basis of Best Judgement Assessment.
Allahabad High Court held that provisions of section 50(2) of PMLA Act empowers Directorate of Enforcement to summon any person whose attendance he considers necessary whether to give evidence or to produce any records during the course of any investigation/ proceeding.
Maersk Line India Pvt Ltd’s case on confiscated containers under Customs Notification analyzed by CESTAT Ahmedabad. Details on import, violation, and verdict.
ITAT Bangalore held that microfinancing activities by charging exorbitant interest cannot be considered to be charitable purpose in terms of section 2(15) of the Income Tax Act accordingly exemption claimed u/s 11 and 12 duly deniable.
CESTAT Allahabad rules that payment of VAT/Sales Tax on deemed sales does not automatically exclude the transaction from service tax liability.
Delhi HC upholds PMLA proceedings against co-accused despite dropping charges against some, emphasizing distinct nature of offenses under PMLA and IPC.
Read about CESTAT Bangalore’s ruling confirming separate classification for software licenses and software, allowing the benefit of nil customs duty rate.
ITAT Mumbai held that the activity of the trust for publishing advertising in the newspaper is intrinsically linked for newspaper activity falls within the ambit of sub-clause (i) of Subsection 2(15) and conditions imposed in sub-clause (ii) of the proviso has to be fulfilled.
Supreme Court held that mere delay in trial pertaining to grave offences cannot be used as a ground to grant bail. Accordingly, bail application of appellant accused under Unlawful Activities (Prevention) Act, 1967 rejected.
ITAT Kolkata held that the Indian Chamber of Commerce (ICC) is entitled to exemption u/s 11 of the Act as ICC is not carrying on any activity of holding meetings, seminars and conferences for business purpose but only in support its main object hence it is not hit by the proviso to Section 2(15) of the Act even post amendments.
