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Blog posts May 2017

Taxation on sale of Co-operative Flat

May 30, 2017
Date of possession of the co-operative flat is not relevant for determining whether it is a Long term capital asset or not.
 
The words "held" and "possessed" were not synonymous. Both the words are having different meanings. According to us, the word used by the Legislature is "held" and, t…

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Section 44ADA for professionals

May 20, 2017

PRESUMPTIVE TAXATION FOR PROFESSIONAL SERVICE PROVIDERS

 

Introduction:

 

With the start-up boom and globalization, lots of working professionals are getting into full time profession or on part-time basis.

 

Then the logical question arises, how the income will be taxed?

 

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DORMANT COMPANY – AN OUTLOOK

May 10, 2017

DORMANT COMPANY – AN OUTLOOK


According to section 455 of Companies Act, 2013 Dormant Company is an inactive company which has not been carrying any business or has not made any significant accounting transaction in the last two financial years. 
i)    “inactive company” means a company whic…

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Registration of producer company

May 4, 2017

PRODUCER COMPANY – AN OVERVIEW

Producer Company is a company registered under the Companies Act, 2013, which has the objective of production, harvesting, procurement, grading, pooling, handling, marketing, selling and export of primary produce of the Members or import of goods or services for t…

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Service Tax on Works Contract

May 4, 2017

Service Tax on Works Contract

 

Types of work that fall under the works contract category:

1) Erection, Commission or installations of plants, electronic devices, drainage laying, pipelines, thermal and sound insulators e.t.c.

2) Construction of new buildings, pipelines, etc primarily f…

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SOP FOR INVESTIGATION OF FRAUD IN CASE OF DEPOSIT TAKING COMPANIES

May 2, 2017

STANDARD OPERATING PROCEDURE (SOP) FOR INVESTIGATION OF FRAUD IN CASE OF DEPOSIT TAKING COMPANIES

India has been flooded with various Ponzi schemes that take advantage of small investors looking for alternate banking options. Lacking access to formal banks, low-income Indians often rely on inform…

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6 blog posts