Section 115BAC of Income Tax Act. 1. Clause 53 of the Bill seeks to insert new section 115BAC in the Income-tax Act relating to tax on income of individuals and Hindu undivided family. These amendments will take effect from 1st April, 2020 and will, accordingly, apply in relation to the assessment year 2020-2021 and subsequent […]
After clearing CA Exams of Intermediate or joining CA as direct entry mode, students need to comply with this tenure of 3 years as articleship. Yes, the question is important for all students. Many questions arise in minds regarding this journey from where we start. This is a big question.
is the creative work of human intellect. For development of each country its human workforce plays a vital role. The level of intelligence and its protection are the key to success for every nation. The world today is running on the basis of natural resources and human intellect. For utilisation of natural resources also required […]
VIVAD SE VISHWAS scheme Bill, 2020 was introduced to provide for resolution of disputed tax and for matters connected therewith or incidental thereto. Article 19 of Indian Constitution provides freedom of Speech and Expression, every citizen of India has given right to raise his voice and express his views, as the old quote says “Individuals […]
Budget 2020: Concerns / Issues As To Proposed Provisional Registration/ Approval Under Section 12AB, Section 10(23C) & Section 80G Introduction : It has been proposed under the Finance Bill, 2020 that w.e.f. 01st June, 2020 the registration / approval to the charitable / religious institutions, educational institutions, medical institutions etc. will be granted for the […]
PROPOSED E-INVOICING SYSTEM The GST Council has approved introduction of ‘E-invoicing’ or ‘electronic invoicing’ in a phased manner for reporting of business to business (B2B) invoices to GST System, starting from 1st January 2020 on voluntary basis. Since there was no standard for e-invoice existing in the country, standard for the same has been finalized […]
In common parlance, Capital can be defined as wealth in the form of money or other assets owned by a person or organization or available for a purpose such as starting a company or investing. As per Section 2 (84) of the Companies Act, 2013 shares mean a share in the share capital of a […]
Article explains Provisions related to Deposit under Companies Act 2013, Meaning of Deposit, Reason for introducing provisions relating to deposits in Companies Act, Difference Between a Loans and Deposits under Companies Act 2013, Provisions related to Accepting of Deposits from Members and Provisions related to Invitation of Deposits from Public under Companies Act 2013. What […]
Let us examine two latest Judgements decided by The High Court of Judicature at Bombay dated 22nd January 2020 and 29th January 2020 involving facts where assessing officers invoked section 68 of the Income Tax Act 1961 while making additions to the returned income. What is section 68 of the Income Tax Act 1961 and […]
Treatment of Performance Bonus under Section 10(13A) of the Income Tax Act 1961. In the case of Sudip Rungta Vs DCIT (ITAT Kolkata) ; ITAT No. 2370/Kol/2017 ; Date of Pronouncement: 10/01/2020 In the above order the ITAT has discussed and decided that performance bonus cannot be treated as salary for the purpose of calculation […]
