Section 144B in the Income Tax Act,1961 has been introduced in the Income-tax act by National e-Assessment Scheme. The ambitious scheme launched in August 2020 seeks to bring the much-needed reform revolution to the income tax procedure that encumbered tax filing for the common man, fostered corruption, and aided tax evasion. Before the scheme, after […]
Explore the analysis of cancellation of GST registration with case law. Discover the conditions and the latest judgment of Allahabad High Court.
The definition of microfinance loans for ‘not for profit’ companies (registered under Section 8 of the Companies Act, 2013) is now aligned with the revised definition of microfinance loans viz., collateral-free loans to households with annual household income up to INR 3,00,000, provided the monthly loan obligations of a household does not exceed 50 per […]
Introduction In 2002, the world had observed the collapse of US energy sector giant Enron Corporation when it was at the peak of business with the reputation of ‘America’s most innovative companies’ for six consecutive years by Fortune. In 2016, the world had observed a series of paper leak, known as Panama Papers, which revealed […]
The success of any organization not only depends merely on its tangible assets but also on the company’s reporting practices, policies adopted, technology used, awareness of stakeholders, investor’s role, financial analyst’s comments, and attitudes of public occupies a predominant role. The past few years skyrocketing development has prompted companies to start considering the importance of […]
Land Policies for Tribal Background As per 2001 Census, Tribal population constitute 8% of the total population of the Country and among them 80% live in the central belt, extending from Gujarat and Rajasthan in the West and across the States of Maharashtra, Madhya Pradesh, Chhattisgarh, Bihar, Jharkhand and Orissa, to West Bengal and Tripura […]
As you are aware that the management of a company is supposed to work in the best interest of the shareholders, however in practice it may pursue its own agenda and that leads to the agency conflicts. Since corporates are legal entities and managed by natural persons and they collectively called Board of Directors. The […]
Section 10(13a) House Rent Allownace (HRA) Meaning, Exemption, Calculation & Recent Judgements 1. Meaning of House Rent Allowance: – House Rent Allowance (HRA) is an allowance paid by an employer to its employees for covering their house rent. Such allowance is taxable in the hand of the employee. The Exemption on HRA is covered under […]
An expatriate means a person visiting India or an Indian visiting outside India for employment purposes. In this article, we shall discuss the taxation & legal formalities to be followed by Expats on arrival in India. LEGAL FORMALITIES TO BE FOLLOWED BY EXPATS 1. Registration of Foreign National with Foreigners Regional Registration Officer (FRRO) All […]
AAAR Rajasthan held that Hostel Accommodation service for students with allied services, like Food etc. have been treated as Mixed Supply, attracting the highest rate of tax.
