Absolute Rule of minimum four weeks gap between rejection of objection and further proceedings of section 147 , Bombay HC(296 ITR 90) Bombay High Court Asian Paints Ltd. vs Deputy Commissioner Of … on 29 January, 2007 Equivalent citations: 2008 296 ITR 90 Bom Bench: S Radhakrishnan, J Devadhar JUDGMENT 1. Heard learned Counsel for […]
Most of the places in India are in complete lockdown due to the raise in Covid cases. However, it is important for businesses and entrepreneurs to stay compliant with various compliances during the month of June 2021. Considering the current Covid-19 situation the govt has recently given an extension for various deadlines. Every month there […]
RULES FOR VALUATION OF ASSETS IN CASE OF SLUMP SALE NOTIFIED: Earlier due to non prescribed rules for the purpose of section 50B, Net assets transferred were valued at the book value. Now CBDT notified Rule 11UAE computation of FMV of capital assets for the purpose of section 50B of the income tax act, 1961 […]
Article explains Compliance related to First Board Meeting, Appointment of First Auditor, Issue of Share Certificates, Opening of Bank Account, Commencement of Business, Filing of annual return (Form MGT-7), Filing of financial statements (Form AOC-4), DIN KYC, Holding annual general meeting, Books of Accounts and Maintenance of Registers. 1. First Board Meeting with 30 days […]
In This Article, We Will Cover Section 89 Of The Companies Act, 2013; Where We Understood The Declaration To Be Given By The Registered Owner And The Beneficial Owner. Section 89: Declaration in respect of Beneficial Interest in any share 1. FORM MGT 4 – Declaration by registered Owner to the company within 30 days from […]
Who can opt for such scheme? As per Section 10(1), subject to sub-sections (3) and (4) of section 9 of CGST Act 2017, a registered person whose aggregate turnover in the previous financial year is not more than Rs. 1.5 Crore in relation to supply of goods and restaurant services, can opt, in lieu of […]
Section 206AB changes as applicable from July 1,2021 -Declaration on filing of tax return for past years and linking of PAN with Aadhaar Government of India vide Finance Act 2021, has introduced a new section 206AB under the Act wherein a buyer is responsible to deduct TDS at higher rate (i.e., twice the rate as […]
Section 44AAof Income tax Act,1961- Maintenance of accounts by certain persons carrying on profession or business 1. Section 44AA prescribes two categories of books of accounts and other documents:- Category A: Such books of accounts as may enable the Assessing Officer to compute total income in accordance with the provisions of Income Tax Act, 1961. […]
Investors are expecting the healthcare sector to perform better than other sectors in the long term. In this article I wish to explain why and how one should invest in the healthcare sector to reap the potentials. Why investment in health sector looks attractive The Second wave of Covid-19 has already shattered all of us […]
The Finance Act, 2009 introduced with effect from 01.10.2009 an alternate dispute resolution mechanism to facilitate expeditious resolution of disputes in tax related matters for foreign companies and for transfer pricing matters.
