Section 2(22)(e): Dividend Distribution Tax on Deemed Dividend: As per Section 2(22)e, where a closely held company gives a loan or extends an advance payment to the respective staff: A… Read More
Loss arising on intra-day trading in shares wasn’t speculative if such transactions were in nature of jobbing Section 73 of the Income-tax Act, 1961 - Losses - In speculation business… Read More
CBEC clarifies – Dealer Registration NOT mandatory for transit sale Background: Vide Notification No. 8/2015-CE. (NT) Dated 1st March 2015-05-08, the following proviso was added to Rule 11(2) of the Central… Read More
Highlights of New Proposed Goods & Service Tax (GST) The basic principal governing behind GST is to have single Taxation System for Goods and Services across the country. Currently Indian… Read More
Essentials of Drafting A Trust Deed According to the Indian Trust Act 1882, public trust registration is required to be undertaken and completed, where the author of the proposed trust indicates the following -… Read More
Solatium should also be taken into consideration while computing market value of an asset as on 1-4-1981 Section 48 of the Income-tax Act - Capital gains - Computation of Fair… Read More
MCA has recently introduced COMPANIES ACT Companies (Incorporation) Amendment Rules, 2015 vide Notification dated 1st May 2015. Key features being:- Verification of signature of promoter(s)/director(s) in Form INC 10 has been… Read More
A STEP TOWARDS GST, IN UNION BUDGET 2015 Taking a step towards GST, in Union Budget 2015, Honourable Finance Minister has proposed to abolish Education Cess and Secondary and Higher… Read More
CORPORATE AND PROFESSIONAL UPDATE SERVICE TAX AMENDMENTS Clarification about the Rate of Service Tax The rate of Service Tax will continue at @12.36% until the new rate is notified. The… Read More
Service Tax changes applicable from 1.4.2015 Please ensure that Rate of Service tax has not changed – it will remain to be 12.36% and NOT 14%, until notification issued. A) Exemptions… Read More