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Hilarious QAs on Tax Audit Reporting Clauses
By Mayank Mohanka, FCA, Partner S M Mohanka & Associates & Founder Director, TaxAaram India Pvt Ltd: After hectic Tax Audit times for AY 2022-23, now it’s time for some Tax Audit Fun Moments. So, this Blog articulates some hilarious Tax Audit QAs/visualisations conceived and visualised by the author Sh. Mayank Mohanka, FCA, which will help You in understanding some important reporting clauses in the Form 3CD Annexure in the Tax Audit… Read More ...
Allowibility of GST payable vis-à-vis Method of accounting – S. 43B of the I.T. Act
By CA VINAY V. KAWDIA: Where the assessee had not recognized the amount of VAT/GST payable / paid in its Profit & Los s Account and had only made entries in the Balance Sheet, are the provisions of section 43B of the Act attracted in the case? The issue is explained in view of the cumulative provisions of sections 145A… Read More ...
LALIT MISHRA & ORS (Appellant) vs. SHARON BIOMEDICINE LTD. & ORS. (Respondent) NCLAT Company Appeal (AT) (Insolvency) No. 164 of 2018
By FCS Deepak P. SIngh[ B.Sc., LLB, FCS, AIII, CRMP]: Dear Friends, The NCLAT held that Promoters of Corporate Debtors cannot claim discrimination ,while implementation of Approved Resolution Plan. Since Promoters as personal guarantor of the Corporate Debtor are relative party and hence they are not allowed to participate in the Resolution Plan. Regards Read More ...
CBDT issues Revised Guidelines for compounding of offences under the Income tax Act, 1961
By CA Milind Wadhwani DISA(ICAI), FAFD(Cert.), CCCA(Cert.), Research (Ph.D.) Scholar Mobile +91 9826273333 Mail ID: - MILIND.WADHWANI20@GMAIL.COM: Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes New Delhi, 17 September, 2022 PRESS RELEASE CBDT issues Revised Guidelines for compounding of offences under the Income tax Act, 1961 In conformity with the Government's policy of facilitating Ease of Doing Business and decriminalisation of offences, CBDT has taken steps… Read More ...
Copyright registration is not compulsory to sue for infringement – Bombay High Court
By FCS Deepak P Singh[ B.Sc. LLB FCS AIII CRMP]: Dear Friends The Hon’ble Bombay High Court in this case held that Copyright registration is not compulsory to sue for infringement. Let’s discuss Regards Read More ...
The concept of Beneficial Ownership-An Indian tax treaty perspective
By Hon'ble Shri Pramod Kumar, Vice President, ITAT Mumbai : The International Association of Tax Judges (IATJ) held its 12th Assembly on September 9 to 10, 2022 at Budapest, Hungary. A Panel discussion Beneficial Ownership was chaired by Philippe Martin (France) and the Panel consisted of Peter Cools (Netherland), Raphael Gani (Switzerland), Pramod Kumar (India) and Don Sommerfeldt (Canada). Hon'ble Shri Pramod Kumar, Vice President,… Read More ...
Decoding of Supreme Court Judgement on Benami law
By CA. Pankaj Agrwal: The Hon'ble Supreme Court has given its much awaited judgement on whether the amendments made by the Benami Transactions (Prohibition) Amendment Act, 2016, has a prospective effect. The court also made a judicial review of the provision of the Benami Transactions (Prohibitions) Act, 1988, and held its section 3(2) and 5 to be unconstitutional and… Read More ...
J.P. ENGINEERS PVT. LTD v. MURTI UDYOG LTD [NCLAT] Company Appeal (AT) (Insolvency) No. 321 of 2017
By FCS Deepak P. SIngh[ B.Sc., LLB, FCS, AIII, CRMP]: Dear Friends, In this case the Hon'ble NCLAT held that denial of claim and later filing a civil suit against Operational Creditor by Corporate Debtor will be considered as " dispute" and hence petition u/s. 10 of IBC,2016 is not mailtainable. Regards Read More ...
SOME FACTS RELATED TO COMPENSATION UNDER THE MOTOR VEHICLES ACT,1988
By FCS DEEPAK P. SINGH: Dear Friends, With the onset of modernisation and globalisation, the world has started moving towards a more technologically advanced system. All over world many new technologies have been introduced in the filed of transportation. We now days using various means of transport driven by technology. We have modern, sophisticated cars, buses, motor cycles, two wheelers,… Read More ...
CONCEPT OF SOFT AND HARD MARKET IN INSURANCE
By FCS DEEPAK P. SINGH: Dear Friends, As you are aware of that Soft Market generally refer to that market in which there are many sellers or suppliers of goods and services and less buyers. In this market the buyers have more bargaining power and negotiation power. The competition is high and buyers will get standard of products or services.… Read More ...