Section 40A(3) is a provision of the Act dealing with the taxability of payments that can be considered as expenditure. Under this provision, any expenditure in the form of allowance or reimbursement, made by an employer to his employees, shall be treated as income in the hands of the employees when the amount of expenditure incurred is not less than the amount specified under sub-section (2) of section 40A, or when the actual expenditure incurred by the employer is not otherwise verifiable (by means of documents, vouchers, etc.).
Applying provisions or conditions that more restrictive in nature than those applicable to the Company is called as Entrenchment of Articles.
Uncover the findings of Hindenburg Research’s 2-year investigation, alleging Adani Groups stock manipulation and accounting fraud of INR 17.8 trillion. Delve into the precarious financial situation, debt concerns, offshore entities, and potential delisting repercussions. Navigate the complex landscape of market integrity and corporate governance.
Section 35AC of the Income Tax Act, 1961, provides a deduction in respect of income derived, or any sum of money paid or deposited, out of the gross total income of an assessee who has entered into any eligible project or scheme approved by the Central Government under this Section.
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Supreme Court ruling: Disputes affecting only a fraction of a project should not halt the entire venture. Explore the legal perspective on Developer Group India Pvt. Ltd. vs. Surinder Singh Marwah. Learn about the principles guiding court orders in such matters.
Embark on a journey through time as we explore the evolution of the Companies Act in India. From its inception in 1866 to the latest iteration in 2013, discover the key features, changes, and impact on the business landscape.
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