Mr. X has sent his son to abroad for pursuing his higher studies in a foreign university. Mr. X has taken a loan from a financial institution towards meeting cost of his son’s higher education. Mr. X wants to claim the interest on repayment of education loan as a deduction under Section 80E. This is a common question posed by the tax payers in a similar scenario.
Section 168 of the Companies Act 2013 gives a clear view of the resignation of directors which was absent in the early Act, 1956. However before the Companies Act, 2013 when early Act, 1956 was effective, orders passed by the courts adhered to the same principle but the new provision leaves no ambiguity. A director […]
Start-ups as drivers for the Indian economy’s growth they fuel innovation and value creation for all in general thereby reducing wastages and increasing efficiencies by recognising the gaps. Three words that defined the start-up landscape in 2021 – Funding, Unicorns, and Exits ♦ $24 billion in funding, 40+ unicorns, 11 IPOs, and 198 M&A deals. […]
UNION BUDGET 2022 – KEY DIRECT TAX PROPOSALS – ROADMAP FOR FUTURE The Union Budget 2022 was presented on 1st February, 2022. This Budget seeks to lay the foundation and give a blueprint to steer the economy over the Amrit Kaal of the next 25 years. It continues to build on the vision drawn in […]
All About Cryptocurrency Taxation Introduced in Budget 2022 A new section 2(47A) is proposed to be inserted by Finance Bill’2022, which defines virtual digital assets to mean any information or code or number or token (not being Indian currency or any foreign currency) generated through cryptography which provides a digital representation of value exchanged with […]
Electronic Way bill (E-Way Bill) under GST As per Section 68 of CGST Act, 2017 and Rules 138 of CGST rules, 2017, E-way bill is required to be generated before movement of the goods. In this article we will understand about the following: 1. What is E-way bill 2. When E-way bill is mandatory to […]
During the past few years, there is a rapid growth in the development of transactions associated with E- Commerce which has emerged as a unique concept with borderless market transactions that engages more than 2 billion people worldwide through internet
In the Finance Bill, 2022, government has inserted a new section in The Income Tax Act, 1961, Section 194R applicable w.e.f 01st July, 2022 with an objective of bringing into a tax, all those benefits or perquisites which a person receives during the course of business or profession but do not discloses the same in […]
SIGNIFICANCE This case was a landmark judgement by the Supreme Court on the issue of the scope of liability to tax on the principle of estoppel. The case deals with the doctrine of ‘Approbate and Reprobate’ which in layman’s terms translates to “you can’t have your cake and eat it too.” It is further based […]
The company, once incorporated, holds a separate legal entity in the eyes of law. The company can act under its own name, have a seal of its own, can enter into contracts, purchase or sell property, have a bank account and sue or get sued in the same manner as an individual. Thus, a company […]
