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Section 139(1) - Seventh Proviso w.e.f 01.04.2020
The Seventh Proviso to Section 139(1) mandates the filing of Income Tax Return for a person undertaking certain high-value transactions or expenditures. Let us discuss the proviso.
Accounting and Tax Implication on conversion of Co to LLP
Before starting with anything we shall have the Overview of LLP its Enactment, features, Constitution etc.Background of LLP:LLP as a structure is not new in the International Scena
Few points on Internal audit
1) A plan once prepared should be continuously reviewed by the internal auditor to identify any modifications required to bring the same in line with the changes, if any, in the audit environment. However, any major modification to the internal audi
Highlight and Some question of Company ACT 2013
Concept of independent director under new company act vs Co act 1956 Ans. 1. directors: Under Section 149 of the 2013 Act, there is a specific obligation on every listed public company that at least one-third of the board of directors should c
Points to remember while writing an article
Good journal writing is simply a good writing. As in all effective composition, there are many rules to follow. Some are absolutely necessary for quality writing and others fit an individual authors style.
Related Party Transaction under Co. Act, 2013 (Sec- 184, 188 & 189)
Section: 184 Disclosures of Interest by Directors: (1) Every Director Shall disclose his by giving a Notice In Writing In Form MBP 1. - At First BM in which he participate as director AND- Thereafter, At First BM of Every Financial Year OR- Whenever,
CA Practice vs. Employment
The first confusion arises after clearing CA is whether to start practice or go for a Job? Both these options has there own
Appointment of the Statutory auditor still requires ratification at annual general meeting?
Pursuant to the notification of Section 40 of the Companies Amendment Act, 2017 (CAA17), which has omitted first provision to the Section 139(1) of the Companie...
Concept Of "Bill To" And "Ship To"
First of all, we need to understand the place of business, place of supply and Principal place of business.
No deduction if return not filed
There may be some hope for relief from the courts based on the 1955 circular of CBDT and the decision of the Supreme court in Goetze case but it appears to be very risky. Therefore the author would advise all the entities to file the return immediately before 31-10-2019 without going for risky adventurous legal battle.
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