What is Advance Tax and how to calculate and pay Advance Tax? What is Advance Tax? Advance Tax is part payment of your tax liability before the end of the financial year. It is also called pay as you earn scheme where the income tax should be paid in the year in which the income […]
Registered valuer: A helping hand to the company The word “REGISTERED VALUER’ has got utmost importance under the companies Act, 2013. It almost covers the 15 areas of the act. In this article, I have tried to elaborate the areas and the valuation of reporting by the Registered Valuer.
Cenvat credit admissible on services of sales commission agent Background: The definition of ‘input services’ given under Rule 2(l) of the Cenvat Credit Rules, 2004 (“the Credit Rules”) covers the services of sales promotion in its inclusive part, eligibility to avail Cenvat credit on the services rendered by a commission agent has been disputed recently […]
Sec 68: No addition where parties have sufficient bank balance while giving loans Citation of the Case: ITO vs. Rekha Bansal (ITAT Delhi), I.T.A.No.4455/Del/2013 & C.O. No. 43 / Del/ 2014, AY 2009-10, Date of Judgment: 14/08/2015
Interest subsidy for repayment of loan acquired for acquisition of capital assets, is capital receipts Citation of the Case: DCIT vs. M/s J.K. Cement Ltd. (ITAT Lucknow), ITA No.499/LKW/2010, ITA No.247 / LKW/2011, ITA No.180/LKW/2012, ITA No.570/LKW/2012 & ITA No.668/LKW/2014, AY 2007-08 to 2011-12, Date of Judgment: 30/10/2015