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All about Tax law
INTRODUCTION The word tax has not been defined by any law. The Little Oxford Dictionary gives the meaning of word Tax as money compulsorily levied by state on person, property, business, etc.Taxes are levied by Governm
HC directed the revenue to grant interest
HC directed the revenue to grant interest @ 12% on delay in release of seized cash. On 12th March 2013, Hon`ble HC directed the revenue to grant interest @ 12% on delay in release of seized cash Assessee have file writ petition before hon`ble Hi
Reimbursement of trainings, professional services etc
Traning were commercial in nature and not technical and, hence, not covered by the provisions of DTAA. These payments also cannot be taxed under Article-7, as none of these persons had any P.E. or fixed base in India. KPMG vs JCIT Dated: 22nd Fe
Salient Features of FCRA
FOREIGN CONTRIBUTION REGULATIONS The Foreign Contribution (Regulation) Act, 2010 has come into effect from May 1, 2011. The Foreign Contribution Regulation Act has come into force under which no political party can receive foreign funds as don
Income for putting Advertisement on your website
Income for putting Advertisement on your website + Section 44AD Nowadays many people are using their own website as the source of their income. The income is for allowing other brands to put advertisements on website. The brands are interested
My Articleship Interview Expereince at Ernst & Young
Dear All, I just wanted to share my interview experience with you all. I really worked hard to get a call from the company as I did not have any references. I applied to the audit division. Initially there was an aptitude test with the follo
FAQs on Fast Track Exit Mode
What is Fast Track Exit (FTE) Mode? Ministry has issued Guidelines for "Fast Track Exit (FTE) Mode" to give opportunity to the defunct companies to get their names struck off from the register under Section 560 of the Companies Act, 1956 i
Reverse Charge Mechanism: Clarifications still needed
Introduction:- Around a year back, the budget of previous year proposed the service tax by way of negative list which was implemented w.e.f. 1.7.2012. This is the milestone date which transformed the service tax law by implementi
Why Arbitration is not effective in India?
Introduction: Courts in India are overburdened with a large number of cases and their disposal takes long time. Therefore a need was felt for a faster dispute resolving mechanism in commercial disputes. Thus Arbitration Act, 1940 was enacted wit
Independent Director's role for effective Board Room!
Independent directors are known to bring an objective view in board deliberations. They also ensure that there is no dominance of one individual or special interest group or the stifling of healthy debate. They act as the guardians of the interest
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