CORPORATE AND PROFESSIONAL UPDATE FEBRUARY 10, 2016 DIRECT TAX: IT: Mere deposit of surplus funds in FDRs cannot be treated as application of fund for charity as per section 11(1)(a)… Read More
CORPORATE AND PROFESSIONAL UPDATE FEBRUARY 09, 2016 DIRECT TAX: Exemption u/s 11& 12 : Merely because an institution, which otherwise is established for a charitable purpose, receives income that would… Read More
CORPORATE AND PROFESSIONAL UPDATE FEBRUARY 8, 2016 INCOME TAX ACT SECTION 10B EXPORT-ORIENTED UNDERTAKING Computation of deduction: Interest on FDRs which were under lien with Bank for facilitating letter of credit… Read More
CORPORATE AND PROFESSIONAL UPDATE FEBRUARY 7,2016 INCOME TAX ACT SECTION 40A(3) BUSINESS DISALLOWANCE - CASH PAYMENT EXCEEDING PRESCRIBED LIMITS Agent in villages : Where assessee made cash payments in excess of… Read More
Formation of Charitable Trust in India Brief Introduction A Trust is a sought of obligation or responsibility placed on one in whom confidence or authority is place; it's a confidence reposed in a person by conveying… Read More
CORPORATE AND PROFESSIONAL UPDATE FEBRUARY 3, 2016 INCOME TAX ACT SECTION 2(45) CAPITAL GAINS - CHARGEABLE AS Business income v. Capital gains - Land dealings: Where in terms of the construction… Read More
CORPORATE AND PROFESSIONAL UPDATE FEBRUARY 1, 2016 INCOME TAX ACT SECTION 2(47) CAPITAL GAINS – TRANSFER Sweat equity Stock option : Where sweat equity shares were offered to assessee by employer… Read More
NRI Returning to India NRI returning to India on a temporary or permanent basis are obliged to comply to the corresponding exchange control standards governed by the Foreign Exchange Management Act 1999… Read More
CORPORATE AND PROFESSIONAL UPDATE JANUARY 29, 2016 Central Govt. establishes Central Registration Centre for Reservation of Names under the Companies Act, 2016 w.e.f. 26th January, 2016 [Notification No.SO.218(E), and published in the… Read More
CORPORATE AND PROFESSIONAL UPDATE JANUARY 28,2016 Amendments made to the The Companies (Incorporation) Rules, 2014, w.e.f. 26th January, 2016 [Notification dated 22nd January, 2016]. Highlights of these amendments, in brief, are :… Read More