Income Tax
Share sale proceeds not unexplained Karnataka HC upholds ITAT Order deleting Addition of Rs. 7cr. u/s 68.
Facts of the case
The assessee filed its return of income, declaring a STCL on sale of shares held in X Ltd. to three entities.
The...
Income Tax
Bought property cheaper than stamp value? That’s not ‘underreporting’.
Facts of the Case
The assessee, as b co-owner, purchased two properties at consideration amounts lower than the SDV of those properties.
The AO invoked section...
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Top News
Is giving a discount and having exclusive partnerships with dealers fair and legal practice in India?
Background
Recent judgment of Karnataka High Court to allow Competition Commission of India (CCI) to conduct an inquiry into practices of Amazon and Flipkart have...
Startups
5 Startups which are helping small ventures grow
Unfortunately due to covid-19 pandemic there have been many
startups which had to be shutdown but here is the list of startups which are
helping other...
Company Law and IBC
Rule 33A: MCA inserts New Rule for allotment of new name to Existing Company
First Notification
MCA vide notification dated 22nd July, 2021 has commenced the provisions of Section 4 of Companies (Amendment) Act, 2020 which shall come into...
Top News
A brief insight into G7 ‘s proposal for a Global Minimum Tax Rate for Corporations
What is G7 ?
The Group of 7 (G7) is an informal group of seven countries — the
United States, Canada, France, Germany, Italy, Japan and...
GST
43rd GST Council Meeting Updates and Relaxations
Customs duty and GST exemptions on relief materials:
Indian Customs duties comprise of Basic Customs Duties (BCD) and Customs duties equivalent to Integrated Goods and...
Top News
New MSME Udyam Registration Process and all you need to know
The government has organized a system to facilitate the registration of MSMEs. An enterprise for this process will be known as Udyam and its...
News & Events
Issues on the New Income Tax Portal 2.0
The new Income Tax Website was launched on the 7th of June at 8:45 PM replacing the old income tax website. The new website was...
General
Due Date Calendar for June’2021
A) Due dates for Compliance under Income Tax
7 June 2021 - Due date for deposit of Tax deducted/collected for the month of May, 2021....
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