MCA vide General Circular No. 16/2021 dated 26.10.2021 has provided relaxation in paying additional fees in case of delay in filing Form 8 up to 30th December 2021.
Post the implementation of the LPG Act in 1991, the demand for Chartered Accountants has seen a hike, especially during the last 2 decades, it has been in great demand.
I don't mean to demean any degree; however, the fact of the matter is that it provides you with no certainty that the person has toiled towards it in the right spirit.
In respect of income chargeable under Section 4(1), Income Tax shall be deducted at the source or paid in advance, where it is so deductible or payable under any provision of this Act.
The Initial Public Offering of Nykaa, with a price band of Rs. 1,085-1,125 per share, has opened for public subscription on Thursday and will conclude on November 1.
In case of a person adopting the provisions of section 44ADA, income will be computed on a presumptive basis, i.e. @ 50% of the total gross receipts of the profession.
'Charge' was not registered as per the provisions of Section 77 (1) of the Companies Act, 2013 and as envisaged under the IBC 2016, hence the Creditor cannot be treated as a 'Secured Creditor'.
The Appellate Tribunal held that the grant received was not taxable as revenue receipt since the said grant was given to recoup the losses incurred by the assessee and was hence, in the nature of capital contribution.
TDS is to be deducted at the rate of 2% on payments made to the supplier of taxable goods/services, where the total value of such supply, under an individual contract, exceeds Rs. 2,50,000.
A firm having zero income is not liable for tax audit under section 44AB. It does not make any difference that the loss is after deducting the salary and interest to partners.
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