In the Union Budget 2022-23 through Finance Bill 2022, among other tax measures, the Hon'ble Finance Minister recommended "Insertion of New Section 79A: No set-off of losses consequent to search, requisition and survey".
From April 1, GST e-invoice is mandatory for businesses with Rs. 20 crore turnover.
Many of us expect life to be smooth and without any challenges. But the reality is that life is made of day & night, happiness & sorrow and success & failures. The sooner we accept this duality of life, the better it is for us.
A certificate of insurance (COI) is issued by an insurance company or broker. The COI verifies the existence of an insurance policy and summarises the key aspects and conditions of the policy.
There was a great need and importance for introducing the provisions of section 68 under the income tax act, 1961 to safeguard and protect the interest of revenue, as assessee was engaged in harmful tax practices to evade tax in the form of Black Money, Accommodation Entries, Cash Credit Entries etc.
The Provisions w.r.t GST payable by ECO on Notified services are contained under Section 9(5) of CGST/SGST/UTGST Act. Similar Provisions are also contained under section 5(5) of IGST Act.
As you are aware subject to the provisions of Sections 60 to 63, the income of a religious or charitable trust or institution, to the extent specified in the Act, is exempt from tax when certain prescribed conditions are fulfilled
THE BOMBAY HIGH COURT HELD THAT- Capital Gain credited to Capital Reserve Account instead of Profit & Loss Account cannot be considered while computing Book Profit for the provision of Section 115JB (MAT).
In this article, I have explained the procedure for striking off the name of the companies from the register of companies.
As you are aware that the management of a company is supposed to work in the best interest of the shareholders, however in practice it may pursue its own agenda and that leads to the agency conflicts. Since corporates are legal entities and managed by natural persons and they collectively called Board of Directors.
Live Course on Invoice Management System (IMS) - 2nd Batch(With Recording)
CAclubindia
