General
Votes and Volatility: The Impact of Indian Elections on Market
Three Things are permanent in life: Death, Taxes and Surprises in Indian Elections. After 7 phases, 6 weeks and around 640 million votes counted,...
Articles
Understanding and Embracing Significant Beneficial Owner Declarations in LLPs
Limited Liability Partnerships (LLPs) are now required to adhere to new compliance measures involving Significant Beneficial Owners (SBOs). A “reporting LLP” refers to a...
Latest Articles
Finance
Relaxation In Applicability of Accounting Standards Commencing From April 1, 2020.
Announcement by The Institute of Chartered Accountants of India
Criteria for classification of Non-company entities for applicability of Accounting Standards. The Council, at...
Income Tax
Advance Tax isn’t applicable to senior citizen with no income from business/profession
As per section 208 every person whose estimated tax liability for the year exceeds Rs. 10,000, shall pay his tax in advance in the form...
Case Laws
ITAT e-filing Portal to go live on 21 June 2021
ITAT has announced that e-filing portal will be launched for filing of appeal before the Income tax appellate tribunal.It has been mentioned that e-filing...
Top News
A guide to depreciation rates for AY 2021-22
Depreciation is allowed as a deduction under section 32 of the Income Tax Act, 1961. In the computation of taxable income, the depreciation rate...
Company Law and IBC
Is Stock Broking Company is a Financial Service Provider Under IBC? | NCLAT to Examine
The National Company Appellate Tribunal (NCLAT), New Delhi has recently agreed to examine a serious question of law i.e. whether a stock broking company...
Top News
Draft Model Tenancy Act – 2020: A major step to streamline the property renting process in India.
After releasing the draft in 2019, the Union Cabinet on 2nd June 2021 approved the Model Tenancy Act (MTA) to streamline the process of...
Income Tax
Guidelines for compulsory selection of IT Returns for complete scrutiny during the FY 2021-22
The Central Board of Direct Taxes (CBDT) on Thursday issued the Guidelines for compulsory selection of returns for Complete scrutiny during the Financial Year...
Case Laws
Where department has accepted repayment of loan in subsequent year, no addition can be made in current year on account of cash credit.
The ACIT Vs. Smt. Anuradha Anilkumar Agarwal
Facts of the case
Pertaining to Ground 1:The assessee has shown total purchases of Rs.8,27,50,188/- in respect...
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