Learn about the impact of Section 54/54F on founders of start-ups who sell equity & purchase residential houses with a limit of max. INR 10 cr. from April 2024
WHAT IS PROJECT OFFICE: A Project Office (PO) means a place of business established to represent the interests of a foreign company executing a project in India. Such offices are prohibited from undertaking or carrying on any activity other than the activity relating to the execution of the project for which such office is established. […]
Pursuant to the Section 13(4) of the Companies Act, 2013 the alteration of the memorandum of association of the company relating to the place of the registered office from one state to another shall not have any effect unless it is approved by the Central Government (nowadays powers are delegated to Regional Directors) on an […]
Fifth continues budget by Finance Minister Smt. Nirmala Sitaraman is record for current Government. Till now maximum budget, i.e. 10 times were given by Late Shri Morarji Desai, 9 times by P. Chidambaram and 8 times by Pranav Mukharaji. If the current Government will continue in 2024 election and Smt. Nirmala Sitaramn, become the Finance […]
In her Budget speech, the Finance Minister indicated that the goal of ‘Amrit Kaal’ is for India and its citizens to ascend to new heights of prosperity, as the country complete 100 years of independence. Budget 2023 has drawn the blueprint for India’s ‘Amrit Kaal’ and has a vision for an empowered and inclusive economy, […]
Just before the Finance Minister presented Budget 2023 in the Lok Sabha, my father, echoing the sentiments of many, said: “Being a middle class salaried person, why would anyone opt for the simplified tax regime u/s 115BAC?” This question may have to be re-looked especially after the Budget announcement by the Finance Minister. In her […]
Intangibles have over the past couple of decades become an integral path for achieving accelerated business growth. A few decades ago, the valuation of a company was largely derived based on the tangible assets it owned, such as machinery, plant, raw material, etc. However, in recent times, intangibles such as software, data, intellectual property, etc. […]
In this editorial author shall discuss the questions and step by step process of Resubmit or submission of Spice Part B if name approved in V2 portal. Que 1: If Name approved in V2 portal. Whether Spice Part B for the same can be file on V3 Portal? (DG) Ans 1: It is allowed to […]
The intention behind introduction of provisions of section 40A(3) of the Act was two- fold – 1. Firstly, putting a check on trading transactions with a mind to evade the liability to tax on income earned out of such transaction and 2. Secondly, to inculcate the banking habits amongst the business community. The provision was […]
♦ In case of Individuals, HUF, AOP, BOI, Artificial Judicial Person The amount of Income Tax computed in accordance with the preceding provisions of this paragraph (including capital gains under section 111A, 112, and 112A), shall be increased by surcharge at the rate of – 1. Having a total income (including the income by way […]
