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CORPUS FUND AND INVESTMENT u/s 11(5) IN ITR7
By CA Anilkumar Shah: The ITR7 validation rules pose many issues in cross tallying the Corpus/Own Funds, Investment u/s 11(5) and reconciliation of them. The present article gives a how to do it solution in a very crisp and precise manner. This also includes the columns under Form 10B which are linked to ITR7. Read More ...
ANALYSIS OF PROVISIONS OF SECTIONS 50C & 50CA UNDER INCOME TAX ACT, 1961
By FCS Deepak P. SIngh[ B.Sc., LLB, FCS, FIII, CIAFP]: Dear Friends, As you are aware that provisions of Section 50C are applicable for calculation of capital gain on transferor of immovable property such as land or building or both. SECTION 50C(1) provides that where the consideration received or accruing as a result of the transfer by an assessee of a capital asset, being land… Read More ...
ITC ON GST PAID ON REPAIR OF VEHCILES BY INSURANCE COMPANIES
By FCS Deepak P. SIngh[ B.Sc., LLB, FCS, FIII, CIAFP]: Dear Friends, As you are aware that an insurance company insures various types of motor vehicles and indemnify financial losses in case of happening of any event as may be specified. There are various types of products related to motor vehicles by various insurance companies in the market. These insurance companies generally pay repair charges… Read More ...
GST IMPACT ON INSURANCE SECTOR
By FCS Deepak P. SIngh[ B.Sc., LLB, FCS, FIII, CIAFP]: Dear Friends As you are aware that Indian Insurance Market is the 10th largest in the world and is poised to become the 6th largest by 2032, ahead of Germany, Canada, Italy, and South Korea. The insurance regulator, IRDAI, has taken up the mission of universal insurance, which is expected to lead to a significant… Read More ...
BUDGET 2024 & CHANGES FOR LLP AND PARTNERSHIP FIRMS
By FCS Deepak P. SIngh[ B.Sc., LLB, FCS, FIII, CIAFP]: BUDGET 2024 & CHANGES FOR LLP AND PARTNERSHIP FIRMS Dear Friends, The BUDGET -2024 has brought various changes in Direct and Indirect Taxation in India. The Government has changes various provisions detrimental to the ease of doing business in India. The Government has provided benefits to all sectors through Budget-2024. The aim of government is… Read More ...
AMENDMENTS & DISCRIMILANISATION OF INTELLECTUAL PROPERTY RIGHTS LAWS VIDE JAN VISHWAS (AMENDMENT IN PROVISIONS) ACT, 2023.
By FCS Deepak P. Singh [B. Sc.,LLB,FCS,FIII,CAIFP] : Dear Friends, The Government has notified through Notification Ref. No.: CG-DL-E-12082023-248047 dated 11th August 2023, the provisions of Jan Vishwas (Amendment in Provisions) Act, 2023. Through the enforcement of certain provisions of the Schedule to the Jan Vishwas (Amendment of Provisions) Act, 2023, various provisions in different Intellectual Property Rights legislations have been amended. The… Read More ...
50 Important Judgements of Honourable Shri G.S. Pannu, Vice-President, Income-tax Appellate Tribunal, New Delhi
By Neelam Jadhav, Advocate: 50 Important Judgements of Honourable Shri G.S. Pannu, Vice-President, Income-tax Appellate Tribunal, New Delhi Read More ...
ANGELED OUT
By ANADI VARMA: The article is a modest academic effort to try and unravel the so called angel tax provision and take a historical perspective.I have tried to argue the contra side as I firmly believe that anti abuse provisions cannot be excepted save on grounds of legal perversity. Read More ...
What are the ways available to the aggrieved taxpayer where the Assessing Officer has finalized the ex parte assessment u/s 144
By CA Sanjeev Goyal: Where the Income Tax Authority sent a notice to the taxpayer asking for the requisite details but the taxpayer is silent and/or not forthcoming with the requisite details within time allowed. Accordingly, the Assessing Officer (AO) is of opinion that he has no option left but to finalize the proceedings ex parte under the provisions… Read More ...
Defending Economic Liberty: India’s Resistance to Draconian Taxation Measures
By Shashank Shukla: "Defending Economic Liberty: India's Resistance to Draconian Taxation Measures" delves into India's steadfast opposition to burdensome tax policies, particularly in the realm of inheritance taxation. The article meticulously examines the historical context, legislative frameworks, and socio-economic implications surrounding the discourse on inheritance tax within the Indian landscape. Through a critical analysis of past endeavors and… Read More ...