The Ministry of Finance in the United Arab Emirates has taken several taxation measures. They announced that federal corporate tax will be implemented on business profits for financial years, which start on or after 1 June 2023, meaning that the first profits to be taxed will be for financial years ending on or after 31 May 2024.
Dividend is taxable u/s 56 in hands of shareholder from 1-4-20 and exemption u/s 10(34) has been removed.
Acquire shares of any Body corporate (Investment cannot be from more than 2 layers of investment companies)
Guarantee/security in connection with loan taken by Pvt Co. in which such director is director or member and the loan is utilised for principal business activities.
Important judgments on Income Tax, GST, IBC and other corporate laws has been listed in this article
As we are aware that Income of a resident in India from sources anywhere in world will be taxable under provisions of Income Tax Act, 1961. In case a person, who is a non-resident in India during previous year and he earns any income from India, then taxability of that Income will be decided on the basis of source of income as well as residence of assessee.
A Non Disclosure Agreement is a legal contract signed between two or more parties who share personal and sensitive knowledge or information for varied purposes and want to ensure that such information remains confidential.
Negotiable Instruments Act,1881 is an Act to define and amend the law relating to Promissory Notes, Bills of Exchange and Cheques.
Lot many exporters have started receiving notice from Customs department for recovery of Drawback
Legal Compliance Calendar for FY 2022-23 Covering Important due dates Company Law, GST Act, Income tax Act, Labour laws etc.
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