The amount on claim or maturity under a keyman insurance policy is not exempt under Section 10 (10D) of the Income Tax Act if the company is paying the premiums. However, in case the policy has been assigned to the keyman and the keyman is paying the premiums, then the claim/maturity proceeds are exempt under Section 10 (10D).
To view BIN details provide TAN, Nature of Payment , Form 24G month/year range. To view BIN details of particular AO, provide the AIN of AO in addition to above mandatory details.BIN is to be quoted in the Transfer voucher details while preparing the quarterly TDS/TCS statements.
Under GST the text Claim and avail are two different concepts.. We, every-body under stand that the prime concept of input tax credit arise under Goods and Service Tax arise from Section 41 by the golden sentence ‘entitled to take eligible input put credit’. While analyse for the sentence entitled to take eligible input tax […]
Types of approaches used in Valuation : A brief on valuation approaches for registered valuers With the introduction of concept of Registered valuer’ by Companies Act, 2013, the requirement for a professional and methodological approach to valuation has arisen. Not a while ago, for majority of proefessionals the valaution of an equity instrument of a […]
Ministry of Corporate Affairs (MCA) has released the Draft Companies (CSR Policy) Amendment Rules, 2020 proposing amendments to Companies (Corporate Social Responsibility Policy) Rules, 2014 for public comments. An attempt has been made to analyse the rules and the changes that are brought out by the said rules vis a vis the rules as are […]
Brief note on the proposed amendments in the Companies (Corporate Social Responsibility Policy) Rules, 2014 (CSR Rules) as proposed vide Draft Companies (CSR Policy) Amendment Rules, 2020: 1. Newly phrased definitions under the CSR Rules: a) ‘Corporate Social Responsibility’ defined with a negative list. Some of the exclusions like normal course were already there but […]
Cabinet has approved WTO compliant scheme for ‘Remission of Duties and Taxes on Exported Products (RoDTEP)‘ to boost exports for enhancing Exports to International Markets. The scheme is explained here below in simplified manner – #Objective of RoDTEP scheme To make Indian exports cost competitive and create a level playing field for exporters in International […]
Introduction of Private Placement: A Company shall go for issue of securities to fulfill their needs of funds for their business. Reason for issue is to have sufficient cash to run the operations and the day to day affairs of the company. For the companies in finance sector, achieving debt equity ratio also plays vital […]
Can a GST registered person, entitled to take eligible input tax credit (ITC) even as on date for the year 2017-18 and 2018-19 ? Prime concept under Goods and Service tax Act Start at the point of ELIGIBLE TO TAKE INPUT TAX CREDIT. Entitled to take means rights ; whereas claim is demanding to the […]
Presentation made on Indian Budget 2020 in the programme which was organised by Noida Management Association in association with Noida chapter of ICSI and ICMAI. The information contained herein is of a general nature and is not intended to address the circumstances of any particular individual or entity. Although we endeavor to provide accurate and […]
