SECTION 50C DOESN’T APPLY TO SALE OF ASSETS FORMING PART OF BLOCK OF ASSETS Deeming provision under section 50C, adopting stamp duty value as sale consideration applies to compute capital gains and not to determine written down value of assets [2015] 59 taxmann.com 373 – ITAT MUMBAI – Bhaidas Cursondas & Company v/s ACIT, Mumbai FACTS During …
MAURITIUS VS INDIA TRADE ROUTE MARRED? Introduction In a complete disregard to the decision of the Supreme Court of India (“SC”) in Union of India vs. azadi Bachao Andolan, (2003) 263 ITR 706, 263 ITR 706 (SC), which had permitted the Mauritian companies having tax residency certificates to benefit from the India-Mauritius tax treaty, Circular No. 789, …
BASIC FOR THE ISSUE OF BUSINESS VISAS AND EMPLOYMENT VISAS FOR FOREIGN NATIONALS The Department of Industrial Policy and Promotion of the Ministry of Commerce and Industry notified certain guidelines for the issue of Business Visas (“BVs”) and Employment Visas (“EVs”) to foreign nationals.As Per these guidelines all foreign nationals in India who were on …
TYPES OF LOANS AVAILABLE IN INDIAN MARKET PERSONAL LOAN: We offered our services in providing personal loans for any purpose. Our wide expertise in this area allows us to offer you the helping hand with immediate effect right from your request. Our personal loans are meant for business as well as for personal purpose. Our …
Mere book adjustment can’t be deemed as contravention of Sec. 269SS/269T Section 271D, read with sections 271E, 269SS and 269T, of the Income-tax Act, 1961 – Penalty – For failure to comply with section 269SS (Book adjustment) Making book adjustment of funds by assessee firm with sister concern without making payment of cash, could not …
Summary of changes made in Passed Finance Bill, 2015. On April 30, 2015, the Lok Sabha passed the Finance Bill. The Bill which was presented originally in the Lok Sabha on February 28, 2015 is not passed in its original shape. Various changes have been made in the Bill. New amendments are proposed, some proposed …
Managerial Remuneration in a Company -2 [SCHEDULE XIII] (See section 198, 269, 310 and 311) [SCHEDULE XIII] (See section 198, 269, 310 and 311) Condition to be fulfilled for the appointment of a managing or whole-time director or a manager with out the approval of the Central Government [PART I] Appointments No person shall be eligible …