PROFESSIONAL UPDATE FOR THE DAY Direct Tax: Bogus purchases: In view of the Supreme Court’s order in Vijay Proteins Ltd vs. CIT whereby the verdicts of the Gujarat High Court… Read More
Direct Tax: ITAT Delhi held that Medical illness and that to be in the nature of the typhoid fever and UTI is definitely reasonable cause for non- appearing on the… Read More
PROFESSIONAL UPDATE FOR THE DAY Direct Tax: Allahabad High Court held that Gain on sale of Shares held for 16 years as an investment cannot be treated as business income The… Read More
Direct Tax: · S. 56(2)(vi): A HUF is a "group of relatives". Consequently, a gift received from a HUF by a member of the HUF is exempt from tax as… Read More
WannaCry Ransomeware For the last few days the WannaCry ransomware event created mayhem, where organizations worldwide were hit with ransomware that spread quickly primarily via a self-propagating worm mechanism. It… Read More
A quick review of the latest updates of Income-tax: You can invest under section 80C, 80D etc in the tax reduction instrument and pay higher taxes if you have kept… Read More
MCA and Corporate Law: MCA issues clarifications on the AGM holding Via VC other OAVM-AGM may be carried out by VC or OAVM only by a company which has in… Read More
Quick Review of the latest updates of GST GST Updates: Four Important conditions to be fulfilled before you can Claim Input Tax Credit under GST: The Buyer should be in… Read More
Professional Update for the day: Direct Tax: Delhi HC upholds charity exemption u/s. 11 to Vishwa Hindu Parishad (assessee, 'VHP') for AY 1993-94 despite assessee’s failure to comply with… Read More
Professional Update for the day: Direct Tax: CBDT Request stakeholders to comments on Draft Income Computation and Disclosure Standards (ICDS) on Real Estate Transactions to be applicable from assessment year… Read More