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
Professional Update for the day: Direct Tax: Uncertainty to the applicability of Section [271(1)(c) of the Act or section 271AAA] is a reflection of non application of mind by the… Read More
Professional Update for the day: Direct Tax: ITAT Hyderabad has held that Mobilisation/ trade advance has been wrongly treated as trade receivable. It is not to be subjected to TP.… Read More
Professional Update for the day: Direct Tax: CBDT issued a press release dated 5th May, 2017 requesting the stakeholder’s to comment on draft rules relating to valuation of unquoted equity… Read More