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Circular No.6 /2024F. No. 275/412024-IT(B) is issued by the Government of India, through the Ministry of Finance and the Department of Revenue, to announce a partial modification to Circular No. 3 of 2023 dated 28.03.2023. Circular No. 3 of 2023 dated 28.03.2023 issued by the Board may be read as follows: “Consequent to the … Read more
Section Heading particulars Section: 207 & 208 Liability & payment of Advance Tax Advance tax shall be payable during a F. Y. in every case where the amount of such tax payable by the assessee during that year is Rs. 10000/- or more (after adjusting TDS/TCS) However, no advance tax shall be payable … Read more
While computing total income under the Act, no deduction shall be allowed in respect of expenditure incurred by the assessee in relation to exempt income (i.e. income which does not form part of the Total income). Calculation of expenditure to be disallowed AO is empowered to determine the amount of expenditure incurred in … Read more
    Leave Encashment Notification no 31/2023 dated 24.05.2023 In exercise of the powers conferred by sub-clause (ii) of clause (10AA) of section 10 of the Income-tax Act, 1961 (43 of 1961), the Central Government, having regard to the maximum amount receivable by its employees as cash equivalent of leave salary in respect of … Read more
Name of the Applicant:Â Â Â Â Â Â Â Â Eden Real Estates Private Limited State:Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â West Bengal AAAR Member:Â Â Â Â Â Â Â Â Â Â Â Â Â Mr Brajesh Kumar … Read more
CBIC has reduced the e-invoicing limit from 10 crore to 5 crore starting from 1st August 2023. Find below the true copy of Notification MINISTRY OF FINANCE(Department of Revenue)(CENTRAL BOARD OF INDIRECT TAXES AND CUSTOMS)NOTIFICATION New Delhi, the 10th May, 2023No. 10/2023 – Central Tax G.S.R. 355(E).—In exercise of the powers conferred by sub-rule (4) … Read more
[Division I, Division II of Schedule III: Financial Statements for a company whose Financial Statements are required to comply with the Companies (Accounting Standards) Rules, 2006] PART I — BALANCE SHEET New Requirements Y / N / NA Disclosure Made to Notes Rounding Off Mandatory required for all companies or If company is almost inoperative … Read more
Reverse Mortgage scheme allows homeowners, typically Senior Citizen, who owns a house property to mortgage their property to schedule bank or housing finance company in return for a lumpsum amount or regular monthly/quietly/yearly income. Senior citizen can continue to live in the house and receive regular income without the botheration of repaying the loan. Here … Read more
Under the Companies Act 2013, directors of a company are required to disclose their interests in certain transactions or arrangements with the company. The purpose of this requirement is to ensure transparency and prevent conflicts of interest that could potentially harm the company’s interests. The provisions regarding the disclosure of directors’ interests are covered under … Read more