Admissibility of house rent allowances on rent paid to spouse & parents- Threadbare analysis of the chain of events Synopsys to the article: (1) Introduction to the legal framework (2) ITAT rulings and it’s consequential legal implications (3) Key takeaways have been drawn from above cited judicial pronouncements (1) Introduction to the legal framework: House […]
As you are aware that discharge of contract by performance refers to fulfilment of the contract by performance of all the obligations in terms of the original contract, discharge by ‘accord and satisfaction’ refers to the contract being discharged by reason of performance of certain substituted obligations. The agreement by which the original obligation is […]
Overseas Direct Investment Rules | Regulation and Compliance Requirements 1. Important Definition Direct Investments: Direct investment outside India means investments, either under the Automatic Route or the Approval Route, by way of contribution to the capital or subscription to the Memorandum of a foreign entity or by way of purchase of existing shares of a […]
Friends, it is often said that a Poem conveys your thoughts in lesser words but with a greater impact. So, here is a Poetic Tribute to the New Era of Faceless Assessments by the author Shri Mayank Mohanka, in his Poem titled, What’s in a Face?. The entire scheme of Faceless Assessments has been explained beautifully in a poetic manner by the author.
Definition of Affidavit 1. In India, As per General Clauses Act Section 3(3)- ‘Affidavit’ shall include affirmation and declaration in the case of person by law allowed to affirm or declare instead of swearing. 2. Black’s Law Dictionary defines affidavit as: “A voluntary declaration of facts written down and sworn to by the declarant before […]
Stay ahead of the game with the latest ITR changes for FY 2022-23. Be prepared with the necessary documents for filing your taxes.
MCA vide notification dated 10th September 2018, introduced Rule 9A to the Companies (Prospectus and Allotment of Securities) Rules, 2014 through the Companies (Prospectus and Allotment of Securities) Third Amendment Rules, 2018 for issue of securities in dematerialized form by unlisted public companies effective from 2nd October 2018. The above rule corresponds to Section 29 […]
Sasken Communication Technologies Ltd I.T.A. No. 241 of 2011 dated 10 June 2020 Karnataka High Court Karnataka HC rules that non-compete fees paid to key employees at the time of joining is in the nature of salary income. BRIEF FACTS: In the case of Sasken Communication Technologies Ltd (Taxpayer), the issue before the HC was. […]
Learn about the criteria for mandatory income tax return filing in India. Find out if you meet the thresholds set by the Income Tax department.
Mumbai Tribunal deprecates Tax Authority’s action in disallowing claim for application of income by way of donation to foreign universities approved by the CBDT.
