Income Tax : The Central government on 5th August introduced the Taxation Laws (Amendment) Bill, 2021 in the Lok Sabha, to repeal the Retrospec...
Income Tax : In India, companies are taxed on their income according to their residential status. A company with residential status in India wi...
Income Tax : Basic requirements for the existence of an HUF are as follows :(i) Only one co-parcener or member cannot form an HUF Family is a ...
Income Tax : Gujarat area is known to have been inhabited by man for thousands of years. It has fertile land and great sea shores, which have b...
Income Tax : Mutual Funds are like a department store where many products are on display and every one can get product suitable to his needs, r...
Income Tax : Leading industrialist and Essar Group chairman Shashi Ruia has warned of an adverse impact on FDI inflows in India if its taxation...
Finance : “There is no specific provision in Indian tax laws governing the deductibility of the payments made for acquiring spectrum,” a...
Income Tax : The assets did not fall under any of the above exceptional three conditions. The said block of assets was used for the purpose of ...
Income Tax : It is thus clear that the entire assessment order was not set aside to enable the Assessing Officer to reframe the assessment; the...
Income Tax : . From the various judgments of the Supreme Court above referred to and other High Courts, it is clear that the Tribunal's power u...
Income Tax : The effect of omission of section 34 and Rule 5AA and consequential amendment in section 32 by omitting reference to section 34 ma...
Income Tax : 5.11 Now coming to the merits of the case. For this purposes, we are required to consider the scheme of taxation of income from ho...
Income Tax : AS PASSED BY LOK SABHA ON 2.12.2019 Bill No. 362-C of 2019 THE TAXATION LAWS (AMENDMENT) BILL, 2019 A BILL further to amend the In...
The Central government on 5th August introduced the Taxation Laws (Amendment) Bill, 2021 in the Lok Sabha, to repeal the Retrospective legislation on indirect transfer tax. The Finance Ministry had presented a bill to encourage greater overseas investment into India, which is being hailed as a welcome respite for firms that have long invested in […]
In India, companies are taxed on their income according to their residential status. A company with residential status in India will be taxed on its global income whether earned in India or outside India whereas a non resident company will be taxed only on income received, accrued or arise in India.
Basic requirements for the existence of an HUF are as follows :(i) Only one co-parcener or member cannot form an HUF Family is a group of people related by blood or marriage. A single person, male or female, does not constitute a family. However the property held by a single co-parcener does not lose its character of Joint Family property solely for the reason that there is no other male or female member at a particular point of time. Once the co-parcener marries, an HUF comes into existence as he alongwith his wife constitutes a Joint Hindu Family as held in the case of Prem Kumar v. CIT , 121 ITR 347 (All.)
Gujarat area is known to have been inhabited by man for thousands of years. It has fertile land and great sea shores, which have been utilized to travel to distant countries. Right business attitude and peace has bestowed this area with wealth. Gujarat and nearby areas not only pioneered business ideas, but had an impact on religious and charitable activities of every age.
AS PASSED BY LOK SABHA ON 2.12.2019 Bill No. 362-C of 2019 THE TAXATION LAWS (AMENDMENT) BILL, 2019 A BILL further to amend the Income-tax Act, 1961 and to amend the Finance (No. 2) Act, 2019. BE it enacted by Parliament in the Seventieth Year of the Republic of India as follows:— CHAPTER I PRELIMINARY […]
Mutual Funds are like a department store where many products are on display and every one can get product suitable to his needs, risk appetite, investment horizon. From product for parking your overnight funds to investing for decades, mutual funds can cater to needs to all investors. As the products offered by mutual fund houses […]
This Article Helps you to understand the Provision of Income Tax Act i.r.t. Derivatives like Meaning, Income Consideration, Books of Accounts Requirement, Meaning of Turnover, Audit Requirements, Adjustments of Losses etc
In general, it is observed that many laws are written, arranged and designed in a way that makes them hard for common man to understand. The same is true for various contracts which are used in day to day life e.g. insurance contracts. USA Government has passed a law namely the Plain Writing Act of […]
Leading industrialist and Essar Group chairman Shashi Ruia has warned of an adverse impact on FDI inflows in India if its taxation laws with various countries remain ‘ambiguous’. The Government (of India) is signing a spate of treaties with other countries. But all this will come to nought if the treaties are ambiguous and open for departmental interpretation, he said during an address at the Indo-American Chamber of Commerce here late last evening.
Discover the irregularities in the VAT department in Punjab, where the violation of rules of natural justice is prevalent. Learn about the importance of show cause notices and fair play in administrative actions to avoid arbitrariness and protect citizens fundamental rights. Legal expert Amit Bajaj sheds light on the violations and implications in the taxation laws.
