Streedhan, Pin Money and NRI Savings during Demonetization period.

When PM Modi announced that Rs with the denomination of 500/- and 1000/- would cease to be the legal tender from 9th of Nov, the whole country was stunned. This decision caused sensation in...

High Court allowed set-off of credit availed on construction of an immovable property against GST payable on rent income

Safari Retreats Private Limited (“Company”) Vs Chief Commissioner of Central Goods & Service tax (Orissa High Court) The Company is mainly carrying on business activity of constructing shopping malls for the purpose of letting out...

Supreme Court Ruling on applicability of PF on allowances

Background The Supreme Court verdict dated 28 February 2019 in the case of Regional Provident Fund Commissioner West Bengal v. Vivekananda Vidayamandir and others reiterated the salutary principles of ascertaining components of salary to be...

Norms for Angel tax relaxed; no tax on issuance of shares up to Rs. 25 crore

The Department for Promotion of Industry and Internal Trade (DPIIT) has issued a new notification in supersession of its earlier notification no. GSR 364(E), dated 11-04-2018. The DPIIT has extended the definition of the start-up and...

Penalty u/s 271I – Non furnishing of Form 15CA and Form 15CB

Notice u/s 271I states that if the assessee has failed to furnish information or has furnished inaccurate information u/s 195(6) in form of filing of Form 15CA and 15CB, there is a penalty for Rs....

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