What is depreciation? Depreciation as per law of lexicon is defined as positive decline in the real value of a tangible asset because of consumption, wear and tear or obsolescence. The concept of depreciation is widely used for the purpose of writin
Rule 27 of Central Excise Rules 2002, is generously used for penalizing technical lapses. Many subscribe to the view that when penalty is imposed under Rule 27 for say, delayed filing of Returns, the penalty is payable. With due respect to all those
DEEMED DIVIDEND Deemed dividend under section 2(22) from an Indian company or any dividend from a foreign company is taxable in the hands of shareholders under the head Income from other sources, regardless of the fact whether shar
Some of the case laws on Income Tax decided in the month of Nov2012: 1. Where assessee continued his employment with the firm, and was also given commission under Non-Compete Agreement ('NCA') for doing what he was normally ex
A question to be questioned: When a person should become health conscious? After becoming sick or before becoming sick or always There are some questions like this, though at the sub-conscious level we know the answer, our conscious mind s
In the digital age, the current affairs reach our living room 24*7. The power of internet and social media makes the news and rumours spread like a wildfire. Because of this information overload we become so focused on details that we begin to ignor
Section 138 of the Negotiable Instruments Act, 1881, deals with the consequences of dishonour of cheque for insufficiency , etc., of funds in the account. The provision provides for punishment with imprisonment for a term which may extend to 2 yea
Applicability of Section 50C to sale of immovable property by Builders and sale of immovable Property in block of assets. 1. INTRODUCTION: The generation of black money is major problem in India. Various committees were formed and number of suggesti
Concept of Additional Director Provisions related to appointment of Additional director (Section 260):- Although Directors are appointed by the shareholders in the General Meeting but section 260 authorize Board to appoint additional directors. Sect
Transfer pricing comes into use when various divisions of a company deal with one another. A transfer price is that notional value at which goods and services are to be transferred by the supply division to receiving division. The goods that are pro
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