Section 8 Online Registration of Company OVERVIEW According to the companies act, 2013 section 8 companies are one whose objective is to promote the field of art, commerce, science, research, charitable, social welfare. Section 8 Company is an entity licensed for charitable purposes; it can also be applied to as a Non-Profit Entity (NPO) or …
The “Input Tax Credit” is NOT available for project development services under the Central Goods and Services Tax Act, 2017. RULING of AAR, Gujrat – M/s. Deendayal Port Trust (erstwhile Kandla Port Trust) The concern involved in this incident concerns the ‘Input Tax Credit’ under the CGST Act. A port trust that runs a big port …
RBI enforce withdrawal restriction of a total amount not exceeding 500 For Karnala Nagari Sahakari Bank Ltd., (Maharashtra) 1. Authority to issue certain Directions to Karnala Nagari Sahakari Bank Ltd., (Maharashtra) by which, as from of the end of trading on 15 June 2020, the Administrator of the aforementioned bank shall not, without prior written …
Does GST Late Fee past return Waiver decision – Correct or Incorrect? GST Council’s recent decision at the 40th Council meeting on the comprehensive waiver of the late fee for nil returns and the capping of Rs. 500 pm for others from July 2017 to Jan 2020 has decided to open the room for debate on …
Failed to file some form of charge because with the LockDown? If so, therefore the new MCA Circular will help you with this. Reference this Circular here MCA formed General Circular No. General Circular No. 23/2020 dated 20th June 2020 on Specific Steps under Companies Act, 2013 (CA-2013) in view of the COVID-19 outbreak which …
Today Update : DIRECT TAX:- To refer a case to TPO, AO need not to have definite findings, Prima Facia opinion is sufficient. Sec 92CA (1) envisages that where the AO consider it ‘necessary or expedient’ to do so, he may with the approval of Commissioner refer the computation of arm’s length price in relation to …
Today Update : DIRECT TAX:- Non disposal of an application for registration before the expiry of six months as provided u/s 12AA (2) results in deemed grant of registration -Supreme Court in CIT vs. Society for the promotion of education. ITAT Mumbai held that the surrounding circumstances and human probabilities attached to a transaction should …
CORPORATE AND PROFESSIONAL UPDATE NOV 1, 2016 Direct Tax:- Eligibility of deduction u/s 80G – it is not open to the Authorities to refuse approval by imposing conditions which are not mentioned in Section 80G of the Act – Bombay High Court in case of [DIT (Exemptions), Mumbai Vs. Shri Sai Baba Charitable Trust] New revised double …
CORPORATE AND PROFESSIONAL UPDATE OCT 13, 2016 Direct Tax:- CBDT has notified seven districts in Andhra Pradesh for availing tax incentives under section 32(1)(ii) (a) and Section 32AD of the Income Tax Act to boost the industrial activities. Bombay High Court in the below citied case allow the revenue expenditure being the amount written off …
Today update DIRECT TAX: Income Tax: Where assessee trust was carrying on micro finance business in a commercial manner so as to earn profit and there was no iota of charity carried on by assessee, exemption under section 11 could not have been granted to assessee .( Assistant Commissioner of Income-tax v. Grama Vidiyal Trust) Income Tax …