This section is a neutral provision, neither revenue friendly unlike section 263 nor assessee friendly unlike section 264 of the Act. But it has limited application, since it is bound by the wording of "Mistake apparent from records"
The stock market helps to value the securities on the basis of demand and supply factors. The securities of profitable and growth-oriented companies are valued higher as there is more demand for such securities. The valuation of securities is useful for investors, government and creditors.
There are certain tax exemptions and benefits available to Charitable Institutions in India. These exemptions and benefits are dealt in sections 12A/12AA and 80G of the Income Tax Act,1961.
One of the most effective and trusted techniques is WWH which we will be discussing in the following paragraphs. Read ahead to understand that and upraise your preparations for upcoming exams.
Do you think so, A Journey of CA as a Cakewalk?
The CA and Tax consultants group has always relied on a dependable and convenient manual data entry method for the Tally. As the method takes longer and has a more complicated number pattern, it is prone to a slew of other flaws, such as human error
Downstream Investment under FEMA,1999 means investment by an Indian entity having FDI into another Indian entity. The first foreign investment is called Foreign Direct Investment and later one is called Foreign Indirect Investment.
There's confusion amongst Professionals regarding the requirement of preparing form MGT-9 for F.Y. 2020-21. For that matter, let's take into consideration the developments made by the Ministry from time to time.
CBDT has considered representation w.r.t. difficulties reported by the taxpayers and other stakeholders in filing of Income Tax Returns and various reports of audit for the Assessment Year 2021-22 under the Income-tax Act, 1961(the "Act").
Being a student, we are more scared of our exams than we can ever be from monsters or even from zombies. Have you questioned yourself why? Let's talk about why today.
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English