Beauty of case laws- Whether its Direct tax law or Indirect tax law or corporate or allied laws, case laws are very important to digest the provisions of law conceptually. The beauty of case law is that it is not only interesting but also clarifies
Note on Cash Basis of Accounting followed by non-corporate entities in India Non-corporate entities in India may include an individual, a proprietory concern, a Hindu Undivided Family (HUF), a partnership firm, a LLP, a trust, etc. Unlike a
In continuation of my previous article, this article highlights the consequential impact of having two sets of functional currency (one for GAAP reporting and other Tax submissions) on deferred tax computation under Ind AS 12, which again is based
The definition of input services in the Cenvat Credit Rules to submit that all the services which are used by the manufacturer whether directly or indirectly till the place of removal are eligible as input service credit.
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Introduction In the month of June 2012, competition commission had passed a judgment (Case no 29/2010 Builders Association of Indias case) in a complicated case which involved interpretation of economic variables and substantial que
Five year tax holiday for hotels located in specified districts having a world Heritage Site. Section 80-ID of the Income-tax Act provides for a five year tax holiday to new hotels of two, three and four star categories and convention centres. It
As soon as the exam forms are out we are shaken,stirred and finally woken up from our dreams to the realities of life oh my god exams are near and the time left for preparation is now c
Service Tax and VAT on under-construction flat/ unit Introduction Service Tax and VAT on construction services have created lots of buzz among the property buyers. To me this is undue hardship on those who are buying residential property for the p
Introduction As per Indian Stamp Act,1899, Stamp duty is payable on instruments and an instrument has been defined as any document
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