Withdrawal of tax exemption for interest accrued on Employees Provident Fund (EPF) in specified cases Finance minister Nirmala Sitharaman in her budget speech had proposed to cap the tax exemption for interest accrued on Employees Provident Fund (EPF) and Voluntary Provident Fund (VPF) in the third Union Budget she presented. The Income Tax Act, 1961, presently provides […]
Recently, many taxpayers have received notices from the GST authorities demanding interest on subsequent reversal of input tax credit (‘ITC’) wrongly availed by them. The said demands are generally pertaining to initial years of GST wherein the lawmakers and taxpayers, both were evolving to adopt the newly introduced statute. Due to the demands pertaining to […]
Issue: Whether gift or amount paid by a closely held company to relative of shareholder will be treated as deemed dividend? In this article we are going to analyse a situation in which a company has gifted Rs. 50,000/- to one of shareholders’s son and AO has consider the gift as deemed dividend. PROBLEM: Mr. […]
186(1) A company shall unless otherwise prescribed, make investment through not more than two layers of investment companies: Provided that the provisions of this sub-section shall not affect,— (i) a company from acquiring any other company incorporated in a country outside India if such other company has investment subsidiaries beyond two layers as per the […]
The new definition of Small Company- Know whether your company falls into Small Companies The Ministry of Corporate Affairs has notified an amendment in the Companies (Specification of Definitions Details) Rules, 2014 that came into force on 1st April 2021. The MCA (Ministry of Corporate Affairs) has effected this amendment in accordance with the proposal […]
Discover the importance of health insurance in today’s world. Learn about the benefits of having a portable insurance policy that can protect you and your family.
Will Stock market bubble burst or enlarge? Are we really in Stock market bubble? 1. What is Stock Market Bubble ? Unjustifiable High Prices of the shares is a bubble as a result of bullish sentiment in the market. 2. Can bubble be Measured ? Bubble can be measured by comparing traditional or historical prices […]
The last dates of filing of the Annual Return under Section 44 of the Central Goods and Services Tax Act, 2017 (CGST Act, 2017), for the Financial Years 2017-18, 2018-19 & 2019-20 were as under: Sr. No. Period Last date to file Annual Return 1 2017-18 05th & 7th February, 2020 (Notification No. 06/2020-Central Tax, […]
Thanks for your responses! It keeps me going continuously! Writing is something I have wanted to do but never really felt the right time to start, well as said, everything happens at a certain point in time! Coming to talk shows, we all have perhaps seen the plethora of forms of talk shows these days. […]
MSME Samadhaan Portal – Ease of filing application under MSEFC, an Initiative from Ministry of MSME, Govt. of India Related Provision The Micro, Small and Medium Enterprise Development (MSMED) Act, 2006 contains provisions of Delayed Payment to Micro and Small Enterprise (MSEs). (Section 15- 24). State Governments to establish Micro and Small Enterprise Facilitation Council […]
