Latest & accurate updates on important issues
As always, PM Narendra Modi looks forward to sharing his thoughts on themes and issues that matter to you. The Prime Minister invites you to share your ideas on topics he should address on the latest Episode of Mann Ki Baat. Send us your suggestions on the themes or issues you want the Prime Minister Read More ...
“There come moments in the history of nations when people feel the urge to be a part of a transformational movement for the country’s progress. Today is the opportunity for 125 crore Indians to join the Mahayagya against corruption, black money, terrorism and fake notes.” – PM Narendra Modi on 8th November, 2016 8th November, Read More ...
In the latest judgement delivered on September 14 , 2018, the Supreme Court has modified the guidelines laid down by it in Rajesh Sharma and others v. State of U.P. and another AIR 2017 SC 3869 : 2017 (8) SCALE 313 on the arrest of the husband and his relatives on the subject of dowry harassment Read More …
The Society is not expected to indulge into profiteering business from the members and if such amount is earned, then it is taxable under the law. There is no bar for any member to pay donation to the Society, however, it should be voluntary without any compulsion and coercion. No manner the transfer fees can be charged under the pretext of donation Read More …
On the question whether capital gains from penny stocks can be assessed as unexplained income, there is a recent judgement of the Rajasthan High Court in CIT vs. Pooja Agarwal. The Rajasthan High Court has ruled in favour of the taxpayer and held that the capital gains from the penny stocks are genuine and the income-tax exemption has to be granted. It was held by the High Court that when the relevant documents to prove the genuineness of the penny stocks are available, the fact of transactions entered into cannot be denied simply on the ground that in his statement the appellant denied having made any transactions in shares Read More …
The Supreme Court has in order dated 31st August 2018 stayed further constructions in the States/Union Territories until the Solid Waste Management Policy is framed Read More …
Whether a person belonging to a Scheduled Caste in relation to a particular State would be entitled or not, to the benefits or concessions allowed to Scheduled Caste candidate in the matter of employment, in any other State? Read More …
CBDT is of the view that where a derivative contract is being settled by physical delivery of shares, the transaction would not be any different from transaction in equity share where the contract is settled by actual delivery or transfer of shares and the rates of STT as applicable to such delivery based equity transactions shall also be applicable to such derivative transaction Read More …
The Supreme Court judgement in MR. ANURAG MITTAL vs. MRS. SHAILY MISHRA MITTAL has clarified that although the Hindu Marriage Act prescribes that it shall be lawful to marry again only after dismissal of an appeal filed by aggrieved party against the decree of divorce, the second marriage would not be void if solemnised during the pendency of appeal Read More …
The CBDT has issued a letter dated 20th August 2018 to incorporate amendment to para 10 of the Circular No. 3 of 2018 dated 11.07.2018 Read More …
Press Information Bureau Government of India Ministry of Finance 18-August-2018 12:50 IST CBDT issues Circular on amendment of Tax Audit Report Section 44AB of the Income-tax Act, 1961 (‘the Act’) read with Rule 6G of the Income-tax Rules, 1962 (‘the Rules’) requires prescribed persons to furnish the Tax Audit Report along with the prescribed particulars Read More …
As per the provisions of sub-section (4) of section 10A of the Income Tax Act, 1961 (the ‘Act”), the profits derived from export of articles or things or computer software shall be the amount which bears to the profits of the business of the undertaking, the same proportion as the export turnover in respect of such articles or things or computer software bears to the total turnover of the business carried on by the undertaking Read More …
