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For employees with monthly pay of less than Rs 15,000, however, inclusion of all allowances in wages for PF calculation would result in a lower take-home salary. For employees with monthly pay of more than Rs15,000, Calculation of PF for Employer Contribution will be restricted to 12% of Rs. 15,000 only. So there will be no impact for such employees.
In the case of Khoday Distilleries Ltd. The SC has explained the judicial effect of the dismissal of a Special Leave Petition, filed under Article 136 of the Indian Constitution.
Hon’ble Supreme Court held that RBI Circular directing bank to take recourse to Insolvency and Bankruptcy Code (IBC) is ultra vires to Section 35AA of the Banking Regulation Act.
Principal CCIT Vs Nalini Chidambaram (Supreme Court of India) Learned counsel for the petitioners prays for interim stay of the judgment of the High Court on the ground that the said judgment may be acted upon in other similar cases. While, we decline the prayer for stay, as the same would amount to grant of […]
High Court was not justified in dismissing the appeal on the ground that the appeal did not involve any substantial question of law as it had to decide validity of s. 148 notice, whether notice based on change of opinion, assessed reasons to believe and findings recorded by ITAT on merits whether was legally sustainable.
When an amount was paid as Dharmada along with the sale price of goods, such payment was not made in consideration of the transfer of goods but for charity, therefore, the same did not form part of the income of assessee and could not be included in the transaction value or assessable value of the goods
PCIT Vs Chain House International (P) Ltd (Supreme Court of India) In this case Supreme Court upheld the Judgment of Madhya Pradesh High Court. Madhya Pradesh High Court held that The question raised by the revenue in regard to issuing the share at a premium is purely a question of fact. It is a prerogative […]
Avenue for seeking certified copies as well as inspection is provided both in the Right to Information Act and in Company Secretaries Act, 1980. We are cognizant of the fact that guidelines of the appellant, framed by its statutory council, are to govern the modalities of its day-today concerns and to effectuate smooth functioning of its responsibilities under the Company Secretaries Act, 1980.
Except the deductions provided under the first proviso to Section 6B(1) nothing else can be deducted from the total turnover as defined under Section 2(u2) for the purpose of levy of turnover tax under Section 6B of the Act.
Properties were purchased by the defendant with some financial assistance from his father, however, the same cannot be sole determinative factor to hold the transaction as benami in nature.The plaintiff has miserably failed to establish and prove the intention of the father to purchase properties for and on behalf of the family, which were purchased in the names of defendant.
