Mandatory Claim of Enhanced Depreciation of 15% in case of Motor Vehicles (Acquired & put to use from 23rd August 2019 to 31st March 2020) In July 2019, Honorable Finance Minister Ms. Nirmala Sitharaman presented union budget for the financial year 2019-20 in the parliament. Subsequently the finance minister had announced several short and long-term […]
Taxation-A Money eater, can be turned into wealth creator! Background Investing an Art or Science, I belief Investing is both, an art, to the extent you should learn to overcome from fears, control your emotions, have patience, control greed etc, and science to the extent you should do research, analyze various data/assets class, knowing various […]
Conditional Offers 1. Regulation 19(1) Acquirer may make offer which is conditional as to the minimum level of acceptance; 2. Proviso to Regulation 19(1) Where an open offer is subject to an agreement such agreement shall stipulate a condition to the effect that in the event the desire level of acceptance of open offer not […]
Steps to be followed after filling Letter of offer with SEBI under SEBI (SAST) Regulations 2011 1 Regulation 18(1) After filling the draft letter offer with SEBI under regulation 16(1), the acquirer shall send a copy of draft letter of offer to target company at its registered office address and to all the stock exchanges […]
Introduction: Mediation is one of the most discussed mechanism of dispute resolution in our country. But due to the lack of express legislation on this point, it remains just discussed and less applicable. We have some laws that promote mediation of disputes but there is no specific legislation to this point. The success of this […]
One major change that came with the Finance Act is removal of dividend distribution tax making section 10(34), 10(35), 115-O, 115R(2) and 115BBDA of the ITA inapplicable with effect from April 1, 2020.
Welcome into the world of GST GST registration is covered by Section 22 to 28 of Central Goods and Services Tax Act 2017 and CGST Rules Related to Registration. Article explains deals with Who is liable to get GST registration, Who doesn’t require GST registration, Mandatory GST Registration, Procedure for GST Registration, Deemed GST Registration, […]
There are a number of entities, the income / surplus of which is governed by the principle of mutuality and therefore, such income / surplus is not liable to income-tax. In other words, any surplus in the case of mutual concerns is exempt from income-tax and therefore, it would not form part of the gross total income of such mutual concerns.
A business in its normal course of business can incur losses on account of various reasons. One of the reason being heavy deductions and exemptions given by the government under the Income Tax Act,1961 in order to encourage the expansion of existing business or set up new business.
Most of the people who were happy and proud with their achievement of buying their own house in the recent past are now sleepless, thanks to the provision, called Section 194-IA of the Income Tax Act 1961.
