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Taxability of Gifts
Taxability of gifts received by an individual or Hindu Undivided Family Gifts received by an individual or Hindu Undivided Family (HUF) are taxable in certain situations as prescribed by Income tax Act. The gift may be in the form of money or p
Sick companies - The Companies Bill 2011
Our existing companies act 1956 was enacted based upon the recommendations of the Bhabha committee with an object to amend and consolidate the law relating to companies and certain other associations. The Com
Foreign Exchange Management Act, 1999 (FEMA): Basic Understanding
INTRODUCTION A system of exchange control was first time introduced through a series of rules under the Defense of India Act, 1939 on temporary basis. The foreign crises persist
Want to Avail Portfolio Management Services?- Invest More
A portfolio manager is a body corporate who, pursuant to a contract or arrangement with a client, advises or directs or undertakes on behalf of the client, the management or administration of a portfolio of securities or the funds of the client. T
Critical issues under SARFAESI Act, 2002?
It is always welcome to enable the Banks to recover their dues using the provisions of SARFAESI Act, 2002. It is known that it is very difficult for the Banks to approach Civil Court asking for a decree and getting that decree executed. With the i
AMT v/s. SEZ units
Has the Finance Act, 2012 tried to make illusionary the exemption benefits available to SEZ units u/s. 10AA of the Income Tax Act ? First of all, let us briefly go through the provisions of exemption u/s. 10AA of the Income Tax Act and the Alt
The Companies Bill, 2011 - Welcome Reforms for Independent Directors
Introduction When we hear that an individual is appointed as an Executive Director of a company, we know that his duties include fiduciary duties, statutory duties and duty
Steps for E-Filing of Service Tax Return
W.e.f. 01.10.2011 vide Notification No. 43/2011 Service Tax, dated 25.08.2011 E-filing of Service Tax Returns (ST-3) made mandatory for all Assessees . Here is the steps for e-filing of service tax return Steps for E-Filing of Service Tax Re
ABC of Foreign Exchange
With the most busy month of March finally getting over, its time to relax and spend time with your family and go out on a vacation. And if
Section 43 of the Income Tax Act, 1961
UNDERSTANDING SECTION 43 WITH LATEST CASE LAWS: Now its time to unlock all mystery in respect of section 43 of the Income tax act, 1961 with the help of the latest court rulings and judgments. Let us divide the section according to the subject an
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