Finance Bill 2016, has proposed to bring a big overhaul to the income tax regime with respect to penalty in the income-tax. Previously the regime... Read More
Arrogance of the department in not returning the assets which were seized in spite of assessee having succeeded in the appeal is evidently illogical and brings... Read More
Administrative Control All control of EOU/EHTP/STP/BTP units have been placed under Administrative control of Central Excise formations The administrative control over Large Tax Payer EOU... Read More
The GST model promises to bring about a better tax structure in the country but how will it impact the various sectors – still remains... Read More
After so much hustle bustle, the GST Council declares 4-tier GST Rates ranging from 5% to 28%. The GST council that consists of the Finance... Read More
To compete in trade with other countries internationally, government of India devises various export promotion schemes. Export oriented units (EOU) and Special Economic Zones (SEZs)... Read More
Accounting Standard 4- Contingencies and Events After Balance Sheet Date The Accounting Standard 4 (AS 4) deals with the treatment of Contingencies and Events occurring... Read More
When Values assigned to individual assets, sale is not Slump Sale Section 50B not attracted
5 min read
A sale is treated as slump sale only if no individual value is assigned to the assets. Case Study The Assessees were partners of a... Read More
Working of Capital Gain u/s 50 of Income Tax Act against sale of business assets Section 50 of the Income Tax Act, 1961 provides... Read More
Taxation in Digital Economy- Taxation Policy for sourcing online from global sources is not possible
2 min read
Taxation in Digital Economy- Taxation Policy for sourcing online from global sources is not possible
In today’s world, due to advancement in the information and communications technology (ICT) the economy is seeing a transformation that has made technology more powerful,... Read More