Download or read book Taxmann s Companies Act with Rules POCKET PAPERBACK Most authentic comprehensive book covering amended updated annotated text of the Companies Act with 55 Rules etc 2024 written by Taxmann and published by Taxmann Publications Private Limited. This book was released on 2024-06-22 with total page 23 pages. Available in PDF, EPUB and Kindle. Book excerpt: This is the most authentic and comprehensive book on the Companies Act, 2013, in a Pocket Paperback format. It covers the amended, updated & annotated text of the following: • Companies Act, 2013 [as amended up to date] with annotations o Provisions of other Acts referred to in the Companies Act, 2013 o Words & Phrases Judicially Noticed • 55+ Rules framed thereunder with annotations • Circulars & Notifications issued under the Companies Act, 2013 • Secretarial Standards What sets it apart is the presentation/coverage of the Companies Act with corresponding Rules, Circulars & Notifications. In other words, the Annotation under each Section shows: • Relevant Rules framed under the relevant Section • Reference to relevant Forms prescribed • Exemptions available to Private Companies, Government Companies, Nidhis, Charitable Companies, Unlisted Public Company, and Private Companies operating from IFSCs located in SEZ • Exemptions to Financial Products/Services/Institutions in IFSCs • Gist of relevant Circulars & Notifications • Date of enforcement of provisions • Corresponding provisions under the 1956 Act • Words & Phrases judicially noticed • Allied Laws referred to in the provision • Relevant provisions of SEBI Rules/SS-1 to SS-4/Listing Obligations/Table F of Schedule I The Present Publication is the 41st Edition & updated upto 10th June 2024. This book is edited by Taxmann's Editorial Board, with the following noteworthy features: • [Taxmann's series of Bestseller Books] on Company Laws • [Follows the Six-Sigma Approach] to achieve the benchmark of 'zero error.' The contents of the book are as follows: • List of Rules/Regulations • Alphabetical list of Rules/Regulations • Exemptions: o Private Companies o Section 8 Companies o Nidhis o Government Companies o Private Company that is licensed to operate by RBI, SEBI, and IRDA from the International Financial Services Centre located in an approved multi-services SEZ set-up under the SEZ Act o Unlisted public company that is licensed to operate by RBI, SEBI, and IRDA from the International Financial Services Centre located in an approved multi-services SEZ set-up under the SEZ Act o Financial Products, Financial Services, or Financial Institutions in an International Financial Services Centre (IFSC) • List of Circulars & Notifications • Companies Act, 2013 with Rules o Arrangement of Sections o Annotated text of the Companies Act, 2013 as amended up to date o Appendix I: Provisions of other Acts referred to in Companies Act, 2013 o Appendix II: Words & Phrases Judicially noticed o Subject Index • Rules framed under the Companies Act, 2013 o Key to Prescribed Forms o Companies (Specification of Definitions Details) Rules, 2014 o Companies (Incorporation) Rules, 2014 o Companies (Prospectus and Allotment of Securities) Rules, 2014 o Companies (Issue of Global Depository Receipts) Rules, 2014 o Companies (Share Capital and Debentures) Rules, 2014 o Companies (Acceptance of Deposits) Rules, 2014 o Companies (Registration of Charges) Rules, 2014 o Companies (Management and Administration) Rules, 2014 o Companies (Declaration and Payment of Dividend) Rules, 2014 o Companies (Accounts) Rules, 2014 o Companies (Filing of Documents and Forms in Extensible Business Reporting Language) Rules, 2015 o Companies (Audit and Auditors) Rules, 2014 o Companies (Corporate Social Responsibility Policy) Rules, 2014 o Companies (Appointment and Qualification of Directors) Rules, 2014 o Companies (Meetings of Board and its Powers) Rules, 2014 o Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014 o Companies (Inspection, Investigation, and Inquiry) Rules, 2014 o Companies (Authorised to Register) Rules, 2014 o Companies (Registration of Foreign Companies) Rules, 2014 o Companies (Registration Offices and Fees) Rules, 2014 o Nidhi Rules, 2014 o National Company Law Tribunal Rules, 2016 o National Company Law Appellate Tribunal Rules, 2016 o National Company Law Tribunal (Salary, Allowances and Other Terms and Conditions of Service of President and Other Members) Rules, 2015 o National Company Law Appellate Tribunal (Salaries and Allowances and Other Terms and Conditions of Service of the Chairperson and Other Members) Rules, 2015 o Companies (Adjudication of Penalties) Rules, 2014 o Companies (Miscellaneous) Rules, 2014 o Companies (Cost Records and Audit) Rules, 2014 o Depository Receipts Scheme, 2014 o Companies (Indian Accounting Standards) Rules, 2015 o Companies (Accounting Standards) Rules, 2021 o Investor Education and Protection Fund Authority (Appointment of Chairperson and Members, Holding of Meetings and Provision for Offices and Officers) Rules, 2016 o Companies (Compromises, Arrangements, and Amalgamations) Rules, 2016 o Companies (Mediation and Conciliation) Rules, 2016 o Companies (Removal of Names of Companies from the Register of Companies) Rules, 2016 o Companies (Transfer of Pending Proceedings) Rules, 2016 o Investor Education and Protection Fund Authority (Accounting, Audit, Transfer and Refund) Rules, 2016 o National Company Law Tribunal (Procedure for Reduction of Share Capital of Company) Rules, 2016 o Tribunal Reforms Act, 2021 o Conditions of Service of Chairperson and Members of Tribunals, Appellate Tribunals, and Other Authorities o Tribunal (Conditions of Service) Rules, 2021 o Companies (Arrests in Connection with Investigation by Serious Fraud Investigation Office) Rules, 2017 o Companies (Registered Valuers and Valuation) Rules, 2017 o Companies (Restriction on Number of Layers) Rules, 2017 o Condonation of Delay Scheme, 2018 o National Financial Reporting Authority (Manner of Appointment and other Terms and Conditions of Service of Chairperson and Members) Rules, 2018 o Companies (Significant Beneficial Owners) Rules, 2018 o Investor Education and Protection Fund Authority (Form of Annual Statement of Accounts) Rules, 2018 o Investor Education and Protection Fund Authority (Form and Time of Preparation of Annual Report) Rules, 2018 o Specified Companies (Furnishing of Information about Payment to Micro and Small Enterprise Suppliers) Order, 2019 o National Financial Reporting Authority Rules, 2018 o National Financial Reporting Authority (Meeting for Transaction of Business) Rules, 2019 o National Financial Reporting Authority (Recruitment, Salary, Allowances and Other Terms and Conditions of Service of Secretary, Officers and Other Employees of Authority) Rules, 2019 o Companies (Creation and Maintenance of Data Bank of Independent Directors) Rules, 2019 o Companies (Winding-up) Rules, 2020 o Companies (Auditor's Report) Order, 2020 o National Company Law Tribunal and National Company Law Appellate Tribunal (Procedure for Investigation of Misbehaviour or Incapacity of Chairperson, President and Other Members) Rules, 2020 o Producer Companies Rules, 2021 o National Financial Reporting Authority appointment of Part-time Member Rules, 2022 o Companies (Listing of Equity Shares in Permissible Jurisdictions) Rules, 2024 • Circulars & Notifications o Circulars & Notifications issued under the Companies Act, 2013
Download or read book Taxmann s Companies Act 2013 POCKET Edition Most authentic comprehensive book covering amended updated annotated text of Companies Act 2013 in a handy format written by Taxmann and published by Taxmann Publications Private Limited. This book was released on 2023-01-25 with total page 12 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book is the most authentic & comprehensive book, in a small & handy format, on the Companies Act 2013. It covers the amended, updated & annotated text of the Companies Act 2013 [as amended by the Companies (Amendment) Act 2020], along with Words & Phrases judicially noticed The Present Publication is the 9th Edition and has been amended upto 25th December 2022. This book is edited by Taxmann's Editorial Board, with the following noteworthy features: • [Taxmann's Series of Bestseller Compact Books] on Companies Act • [Follows the Six-Sigma Approach] to achieve the benchmark of 'zero error' • [Guide/Short Commentary] on the Companies (Amendment) Act, 2020 The contents of the book are as follows: • Companies Act, 2013 o Arrangement of Sections o Annotated text of the Companies Act, 2013, as amended upto date o Appendix I: Companies (Amendment) Act, 2020 o Appendix II: Words & Phrases judicially noticed o Subject Index • Guide to Companies (Amendment) Act, 2020 o Amendments made by the Companies (Amendment) Act, 2020 at a Glance o Guide/Short Commentary on the Companies (Amendment) Act, 2020
Download or read book Taxmann s Company Law Ready Reckoner Topic wise commentary on 40 topics of the Companies Act 2013 along with relevant Rules Case Laws Circulars Notifications 2024 written by Taxmann and published by Taxmann Publications Private Limited. This book was released on 2024-01-18 with total page 36 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book provides complete and accurate information about all provisions of the Companies Act 2013. It features a topic-wise commentary on all provisions of the Companies Act 2013. It also includes guidance on all practical issues companies and corporate professionals face, making it an essential resource for corporate professionals and companies. The Present Publication is the 14th Edition & updated till 1st January 2024. This book is authored by Taxmann's Editorial Board with the following noteworthy features: • [Topic-wise Commentary] on 40+ topics of the Companies Act, 2013 • [Analysis of all Provisions of Companies Act] with relevant Rules, Judicial Pronouncements, Circulars and Notifications The contents of the book are as follows • Introduction • Incorporation of a Company • Memorandum of Association • Articles of Association • Capital of the Company • Issue of Securities • Further Issue of Securities • Reduction of Capital and Buy-Back of Securities • Public Issue of Securities • Membership of Company • Transfer of Securities • Nomination and Transmission of Shares • Democracy of Shareholders • Procedure of General Meeting • Directors of Company • Disqualifications and Removal of Director • Restrictions on Directors in Relation to Company • Duties, Rights and Liabilities of Directors • Meeting of Board to Members • Report of Board to Members • Corporate Governance • Restrictions on the Power of the Board • Key Managerial Personnel • Charge on Assets of the Company • Debentures • Public Deposits • Accounts of the Company • Dividend • Financial Audit of Accounts • Cost Audit and Secretarial Audit • Private Companies • Holding and Subsidiary Companies • Companies Licensed under Section 8 • Government Companies • Foreign Company • Other Types of Companies • Miscellaneous Provisions in Company Law • Overview of NCLT Related Issues • Inspection, Investigation, Offences, Penalties • Administration of Company Law • MCA-21 – E-Governance • Procedural Compliances by a Company
Download or read book Taxmann s Public Examination Prevention of Unfair Means Act 2024 Bare Act Covering amended updated text of the Public Examination Act and Public Examination Rules 2024 Edition written by Taxmann and published by Taxmann Publications Private Limited. This book was released on 2024-06-27 with total page 15 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book covers the amended & updated text of the Public Examination (Prevention of Unfair Means) Act 2024 (Public Examination Act) and Public Examination (Prevention of Unfair Means) Rules 2024 (Public Examination Rules). This bare act is helpful for educators, legal professionals, and policymakers involved in the administration and regulation of public examinations, providing a robust legal framework to uphold examination integrity. The Present Publication is the 2024 Edition. This book is edited by Taxmann's Editorial Board, with the following coverage: • Public Examination (Prevention of Unfair Means) Act 2024 o Chapter I – Preliminary § Section 1 | Short Title and Commencement – This section introduces the act and specifies the date from which it will be effective § Section 2 | Definitions – Provides clear definitions for terms used throughout the act to ensure proper understanding and application o Chapter II - Unfair Means and Offences § Section 3 | Unfair Means – Defines actions that constitute cheating or other dishonest behaviours in the context of public examinations § Section 4 | Conspiracy for Unfair Means – Addresses collaborative efforts to engage in unfair practices § Section 5 | Disruption to Conduct Public Examination – Covers activities that disrupt the smooth conduct of examinations § Section 6 | Other Offences – Enumerates additional acts considered offences under the act § Section 7 | No Premises Other Than Examination Centre – Stipulates that public examinations must be conducted only at designated centres § Section 8 | Offences in Respect of Service Providers and Other Persons – Details offences involving individuals and organisations that provide services related to examinations o Chapter III - Punishment for Offences § Section 9 | Cognizable Offences – Lists offences that warrant immediate action and arrest without a warrant § Section 10 | Punishment for Offences Under This Act – Specifies the penalties for various offences described in the act § Section 11 | Organised Crimes – Details the treatment and penalties for crimes committed by organised groups or syndicates o Chapter IV - Inquiry and Investigation § Section 12 | Officers Empowered to Investigate – Designates the officials authorised to investigate offences under this act and outlines their powers o Chapter V – Miscellaneous § Section 13 | Members, Officers and Employees of Public Examination Authority to be Public Servants – Declares that those involved in the administration of public examinations are considered public servants § Section 14 | Protection of Action Taken in Good Faith – Provides legal protection for public servants acting in good faith under the act § Section 15 | Provisions of This Act to be in addition to Other Laws – Ensures this act complements, rather than replaces, existing laws § Section 16 | Power to Make Rules – Grants the authority to formulate rules necessary for implementing the provisions of the act § Section 17 | Laying of Rules – Outlines the procedure for formalising the rules created under this act § Section 18 | Power to Remove Difficulties – Allows for the resolution of any issues arising in the implementation of the act o Chapter VI - Amendment to the Criminal Law (Amendment) Ordinance, 1944 § Section 19 | Amendment of Ordinance 38 of 1944 – Updates the existing ordinance to align with the provisions of this new act o Appendices § Appendix I – Full text of the Criminal Law (Amendment) Ordinance, 1944 § Appendix II – Provisions of other relevant acts referred to in this act § Appendix III – Section 112 of the Bharatiya Nyaya Sanhita, 2023, effective from July 1, 2024 • Public Examination (Prevention of Unfair Means) Rules 2024
Download or read book Taxmann s Taxation of Start ups Investors Focused analysis starting from recognising start ups to their taxation with DPIIT Guidelines IMB Decisions Case Laws etc Finance Act 2023 written by Taxmann and published by Taxmann Publications Private Limited. This book was released on 2023-05-17 with total page 35 pages. Available in PDF, EPUB and Kindle. Book excerpt: This is a handy book for the taxation of start-ups & investors, including, but not limited to, the following: • Tax Holiday u/s 80-IAC of the Income-tax Act 1961 • Angel Tax Exemption All topics related to the taxation of start-ups & investors are discussed in light of the following: • Department for Promotion of Industry and Internal Trade (DPIIT) Guidelines • Inter-ministerial Board (IMB) Decisions made in IMB Meetings • Relevant Legal Provisions • Case Laws, including the landmark decision of Raw Pressery (P.) Ltd. vs ACIT [2022] 143 taxmann.com 158 (Mumbai-Trib.) The Present Publication is the 6th Edition and has been amended by the Finance Act 2023. This book is authored by Taxmann's Editorial Board with the following noteworthy features: • [Start-up Ready Reckoner] o Eligibility Ready Reckoner for tax holiday u/s 80-IAC o Compliance Ready Reckoner for turnover-limit linked compliances/exemptions for the following entities: § Private Companies § Limited Liability Partnership § Traditional/General Partnership Firm o Tax Benefits available for DPIIT-recognised start-up private limited companies based on their turnover • [Tabular Format of Tax Holiday for Start-ups approved by IMB] in the following cases: o Grounds of Innovation o Grounds of Scalability o Grounds of Employment Generation or Wealth Creation o Grounds of Improvement in Products • [Detailed Analysis of Finance Act 2023 Amendments] including new provisions regarding taxation & TDS on winnings from online games • [Detailed Analysis with a Specific Focus] on the following topics: o Revised Guidelines for recognition of start-up o Process of IMB Certification for a tax holiday o Options of low tax rate regime u/s 115BAA/115BAB without tax holiday o Relative tax efficacy of various start-up entity forms, such as: § Registered Partnership Form § Limited Liability Partnerships § Private Limited Companies o One Person Company as a start-up entity form • [Case Studies] of acceptance/rejection by IMB of a start-up's application for a tax holiday • [FAQs] are given at the start of the book • [Detailed Analysis of Difference between MSMEs and Start-ups] and benefits available under the MSMED Act, 2006 The detailed contents of the book are as follows: • What is a start-up? • Distinction between start-ups and MSMEs • What is the criteria for recognition of start-ups by DPIIT • Start-ups eligible for DPIIT – Recognition • OPC as a start-up entity • Innovation/scalable business model • Start-up entities not eligible for DPIIT recognition • Sole proprietorships – Whether eligible for DPIIT recognition • Entities formed as a result of amalgamations/mergers/demergers/absorption, whether eligible for DPIIT recognition • Entities formed as a result of compromise/arrangement – Whether eligible for DPIIT recognition • Holding & subsidiary companies – Whether eligible for DPIIT recognition • Joint Ventures – Whether eligible for DPIIT recognition • Entities incorporated outside India – Whether eligible for DPIIT recognition • Entities with foreign shareholding/stake – Whether eligible for DPIIT recognition • Entities formed by splitting up/reconstruction of an existing business – Whether eligible for DPIIT recognition • Entities incorporated with common director/DP/partner – Whether eligible for DPIIT recognition • Procedure for DPIIT – Recognition of start-up • Name change by DPIIT – Recognised start-up entity – Whether permitted • CIN/LLPIN change by DPIIT – Recognised start-up entity – Whether permitted • Conversion by a DPIIT – Recognised entity from one form to another – Whether permissible • Automatically ceasing to be a 'start-up' under LSN • Approvals needed by start-up entities for claiming tax benefits • Tax efficacy of different start-up entity forms – Firms, LLPs & Pvt. Companies • Tax holiday to start-ups under Section 80-IAC • Funding blues of private limited start-up companies • Exemption from 'angel tax' to private limited companies start-ups • Computation of FMV of shares issued when angel tax exemptions is not applicable • Conditions for carry forward or set-off of losses of start-up PLC under section 79 • Deferring TDS or tax payment in respect of ESOP income of employees of eligible start-ups • Tax & TDS on winnings from online games • Mandatory acceptance of payments through prescribed electronic modes if turnover exceeds INR 50 crores – section 269SU • Taxation of investors exiting start-ups
Download or read book Taxmann s Budget Guide 2023 24 Comprehensive commentary on proposed provisions of the Finance Bill 2023 covering Direct Tax Laws Indirect Tax Laws and Corporate Allied Laws written by Taxmann and published by Taxmann Publications Private Limited. This book was released on 2023-02-04 with total page 20 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book is a commentary on the proposed provisions of the Finance Bill 2023. It consists of three divisions: • Direct Tax Laws (13+ Chapters | 80+ Sub-Topics) • Indirect Tax Laws (3+ Chapters | 20+ Sub-Topics) • Corporate & Allied Laws (1 Chapter | 3+ Sub-Topics) All complex provisions have been explained with illustrations which helps the readers to comprehend the new provisions in a simplified manner. The Present Publication is the 2023 Edition, authored by Taxmann's Editorial Team. The noteworthy features of the book are as follows: • Income-tax Proposed Amendments at a Glance • [Tax Rates] applicable for the assessment year 2024-25 • [Threadbare Analysis] on all proposed amendments • [Examples/Illustrations] to understand all complex provisions • [Charts & Tables] to get an overview of the provisions The coverage of the book is as follows: • Direct Tax Laws o Tax Rates Reckoner § Tax Rates § Rates of Surcharge § When should one opt for the alternative tax regime? § Concessional Tax Rates to promote new manufacturing Cooperative Societies § Winnings from Online Games o Taxation of Life Insurance Policies § Concept and Type of Life Insurance § Current Tax Provisions § Proposed Amendments § Analysis of amendments proposed in Section 10(10D) § Overview of tax on various Life Insurance Policies o Charitable and Religious Trusts § Introduction § Direct Grant of Regular Registration or Approval § Application for Provisional Registration or Approval § Deduction for Donation to Other Trusts § No Benefit of Rollback of Exemption Provisions § No Benefit of exemption provisions by filing an updated return of income § Time limit for filing form for accumulation of income § Incomplete or false information in the registration application can attract cancellation of registration/approval § Provisions of accreted tax extended to trusts not applying for re-registration or re-approval § Treatment of application out of corpus, loans or borrowings o Income from Business or Profession § Increase in the Threshold for Audit [Section 44AB] § Clarification about Benefits or Perquisites may be in cash or in-kind [Section 28(iv)] § Relaxation in the conditions to claim a deduction for preliminary expenses [Section 35D] § More expenses are added to the list of deductions allowed on a payment basis [Section 43B] § Categorisation of NBFC [Section 43D] o Capital Gains § Maximum Exemption under Section 54 or Section 54F shall not exceed Rs. 10 Crores § Exemption on conversion of gold to electronic gold receipts and vice versa § No double deduction for interest on housing loan § Cost of acquisition and cost of improvement of an intangible asset shall be nil § Special provisions for taxation of capital gains from market-linked debentures § Rationalising meaning of consideration in JDA transactions § Tax Incentives to IFSC [Section 47(viiad)] o Other Income § Expanding the scope of deeming provisions to gifts received by not-ordinary residents [Section 9] § Angel Tax on receiving excess share application money or premium from non-resident investors § Sum received from business trust to be taxable as residuary income o Carry Forward and Set Off of Losses § Relief to start-ups in carrying forward and setting off of losses [Section 79] § Facilitating certain strategic disinvestment [Section 72A and Section 72AA] o Deductions and Exemptions § Tax benefits to persons enrolled under Agnipath Scheme § Extension in the outer date for the incorporation of Start-up company [Section 80-IAC] § Regulation of Alternative Investment Funds § Eliminate double taxation of non-residents' income from offshore derivatives instruments § Exemption for news agencies under Section 10(22B) withdrawn § Return filing and timely inward remittance of proceeds for Section 10AA exemption § Removal of certain funds from Section 80G deduction § Removal of redundant provisions § Exemptions to income of development authorities o TDS/TCS § Relief from special provisions from a higher rate of TDS/TCS for non-filers of Income-tax returns [Section 206AB and Section 206CCA] § Increase in the rate of TCS on certain remittances § TDS rate on payment of EPF withdrawal reduced where PAN of EPF holder isn't available § Deduction of tax at source from winnings from online games § Removal of exemption from TDS on payment of interest on listed debentures to a resident § Applicability of threshold limit in case of TDS on winning from lottery, crosswords or horse races § Raising the limit for cooperative societies to take out cash without TDS § Clarificatory amendment in Section 194R § Benefit of treaty rate the time of TDS under Section 196A § Lower/Nil TDS certificate can be obtained for income received from the business trust o Assessments § Rationalisation of the limitation period of completion of an assessment § Inquiry for valuation of inventory § Set off and withholding of refunds in certain cases § Assistance to an authorised officer during search and seizure § Rationalisation of reassessment provisions § Modification in assessment – Relief for sugar cooperatives § TDS credit for income disclosed in past years' ITR o Penalties and Prosecutions § Account holders to pay the penalty for misreporting in SFTs § Penalty and prosecution if the deductor fails to 'ensure payment of TDS' § Insertion of sunset clause under Section 276A § No appeal against the order denying immunity from the penalty for under-reporting of income o Appeals § Appeal can be filed to the ITAT against the penalty order passed by the CIT(A) § A new appellate authority of the Joint Commission (Appeals) is introduced § Extension of time limit for disposing of pending rectification applications by the interim board of settlement [Section 245D] o Transfer Pricing § Business transactions with cooperative societies within the ambit of specified domestic transaction § Ten days time period to furnish transfer pricing report o Miscellaneous § Exclusion of NBFC from Thin Capitalisation § Uniform methodology for valuation of residential accommodation to employees § Adjusting advance tax in computing interest for updated return under Section 234B § Amendments in penalty provisions related to cash loans/transactions against primary cooperatives • Indirect Tax Laws o Goods and Services Tax Act § Proposal to allow composition dealers and unregistered dealers to affect the supply of goods through ECOs § Proposal to reverse ITC or pay tax on non-payment to vendors within 180 days § Value of exempt supply under Section 17(3) is proposed to include the supply of goods from bonded warehouse § Proposal to block ITC on CSR expenditure under Section 17(5) § Provisions of non-requirement of registration is proposed to be given overriding effect § Filing of GST Returns/statements proposed to be restricted to a maximum period of 3 years § Proposal to align provisional refund provisions with the present scheme of self-assessed ITC § Proposal to provide the manner of computation of period of delay for calculation of interest on delayed refunds § Imposition of penalty on ECO for furnishing incorrect information § Proposal to decriminalise certain offences under the GST law § Proposal to increase the threshold limit for prosecution to Rs. 2 Crores § Amendments proposed in the provisions relating to the compounding of offences § Proposal to insert a new Section for allowing consent-based sharing of information furnished by taxable person § Proposal to give retrospective effect for inclusion of in-bond sales and High Sea sales under Schedule III § Proposal to amend the definition of OIDAR services and non-resident taxable persons § Specific place of supply provisions for services of transportation of goods outside India is proposed to be omitted o Central Sales Tax Act § CESTAT is Proposed to Function as Authority to Settle Inter-State Disputes under CST Act o Customs Law § Proposal to exclude specified conditional exemption notifications from a validity period of 2 years § Proposed time limit of 9 months from the date of filing applications for passing final order by Settlement Commission § Retrospective amendments in the provisions relating to Anti-Dumping Duty, Countervailing Duty and Safeguard Measures o Customs Tariff and Central Excise Duty § Customs Duty Rate Changes § Changes in Central Excise Duty • Miscellaneous o Corporate & Allied Laws § Amendment to the Indian Stamp Act, 1899 § Amendment to the Prohibition of Benami Property Transaction Act, 1988 § Amendment to the Securities Contracts (Regulation) Act, 1956 § Amendment to the Government Savings Promotion Act, 1873
Download or read book Taxmann s Master Guide to Income Tax Rules In depth Rule wise commentary on Income tax Rules 1962 supplemented with statutory background case laws illustrations circulars notifications etc written by Taxmann and published by Taxmann Publications Private Limited. This book was released on 2023-03-31 with total page 28 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book provides an in-depth Rule-wise commentary on the Income-tax Rules 1962. The Present Publication is the 30th Edition and incorporates all amendments till the Income-tax (Third Amendment) Rules, 2023. This book is authored by Taxmann's Editorial Board with the following noteworthy features: • [Detailed Analysis] on every Rule of Income-tax Rules 1962 • [Statutory Background of the Section] that helps you understand the enabling provisions, compliances required and the legislatures' intent behind the law • [Case Laws] are included within the text to aid the interpretation of the law further • [Simplified Language] to explain each provision of the Income-tax Rules • [Illustrations] to quickly understand the complexities of the Rule • [Gist of All Circulars and Notifications] issued by the Department in each Rule, which are in force • [Income-tax Compliances] to be done in each Rule The detailed coverage of the book is as follows: • Rule 2A – House Rent Allowance (HRA) • Rule 2B - Leave Travel Concession/Assistance (LTC/LTA) • Rule 2BA – Voluntary Retirement Compensation • Rule 2BB – Special Allowances • Rule 2BBA – Family pension to heirs of members of Armed Forces (including Para-Military Forces) Member • Rule 2BBB – Percentage of the Government grant for considering University, Hospital, etc., as substantially financed under section 10(23C)(iiiab)/(iiiac) • Rule 2C – Application for grant of approval of a fund/trust/institution/university/other educational institution/hospital/other medical institution under the first proviso to section 10(23C) • Rule 2DB & 2DC – Pension Fund • Rule 2DCA – Computation of minimum investment/lending and exempt income for the purposes of section 10(23FE) • Rule 2DD – Computation of exempt income of the specified fund for the purpose of section 10(23FF) • Rule 2F – Guidelines for setting up Infrastructure Debt Fund • Rule 3 – Valuation of Perquisites • Rule 3A - Exemption to medical benefits from perquisite value in respect of medical treatment of prescribed diseases/ailments in hospitals approved by PCCIT/CCIT • Rule 3B – Computation of Annual Accretion • Rule 4 – Unrealised Rent • Rule 5 – Depreciation • Rule 5AC – Furnishing of Audit Report under section 33AB(2) • Rule 5AD – Furnishing of Audit Report under section 33ABA(2) • Rule 5C, 5D & 5E – Guidelines, conditions, etc., for approval to be granted to a Research Association/University/College/Other Institution • Rule 5CA – Intimation for continuance of approval under section 35(1)(ii)/(iia)/(iii) • Rule 5F – Guidelines, conditions, etc., for approval to be granted to a company registered in India • Rule 5G – Taxation on Income from Patent • Rule 6 – Prescribed authorities for certain provisions of section 35 & conditions for approval under section 35(2AA) & (2AB) • Rule 6A – Expenditure for obtaining the right to use spectrum for telecommunication services • Rule 6AAD & 6AAE – Guidelines for approval of agricultural extension project & conditions for notification under section 35CCC • Rule 6AAF, 6AAG & AAH – Guidelines for approval of skill development project & conditions for notification under section 35CCD • Rule 6AB – Form of Audit Report for claiming deductions under sections 35D & 35E • Rule 6ABA – Computation of aggregate average advances for purposes of section 36(1)(viia) • Rule 6ABAA – Infrastructure facility for the purposes of section 36(1)(viii) • Rule 6ABBA – Other permissible electronic modes for payment/receipt • Rule 6DD – Disallowance of cash payments • Rule 6DDA & 6DDB – Recognised stock exchange in respect of trading in derivatives • Rule 6E – Amount carried over to a reserve for unexpired risks in case of the insurance business (other than life insurance) • Rule 6EA & 6EB – Taxation of interest income of certain institutions, banks, company, etc., in relation to specified categories of bad or doubtful debts • Rule 6F – Books of account and other documents to be kept and maintained under section 44AA(3) by persons carrying on certain professions • Rule 6G – Report of audit of accounts to be furnished under section 44AB • Rule 6GA – Form of report of audit of accounts to be furnished under section 44DA(2) • Rule 6H – Form of report of an accountant under section 50B(3) • Rule 7 – Income which is partially agricultural and partially from business • Rule 7A – Income from the manufacture of rubber • Rule 7B – Income from the manufacture of coffee • Rule 8 – Income from the manufacture of tea • Rule 8AA – Method of determination of the period of holding of capital asset in certain cases • Rule 8AB – Attribution of income taxable under section 45(4) to the capital assets remaining with the specified entity, under section 48 • Rule 8AC – Computation of short-term capital gains and written down value under section 50 where depreciation on goodwill has been obtained • Rule 8AD – Computation of capital gains for purposes of section 45(1B) • Rule 8B – Guidelines for notification of zero coupon bonds • Rule 8C – Computation of pro rata amount of discount on a zero coupon bond for purposes of section 36(1)(iiia) • Rule 8D – Method for determining amount of expenditure in relation to income not includible in total income • Rule 9A – Deduction in respect of expenditure on the production of feature films • Rule 9B – Deduction in respect of expenditure on acquisition of distribution rights of feature films • Rule 9C – Conditions for carrying forward or set-off of accumulated loss and unabsorbed depreciation allowance in case of amalgamation • Rule 9D – Calculation of taxable interest relating to contribution in a provident fund/recognised provident fund, exceeding the specified limit • Rule 10 – Determination of income in the case of non-residents • Rule 10A to 10CA – Computation of arm's length price • Rule 10CB – Computation of interest income pursuant to secondary adjustments • Rule 10D & 10DA – Information and documents to be kept & maintained under section 92D • Rule 10DB – Furnishing of report in respect of an international group • Rule 10E – Report from an accountant to be furnished under section 92E • Rule 10F to 10T – Advance Pricing Agreement Scheme • Rule 10RB – Relief in tax payable under section 115JB(1) due to operation of section 115JB(2D) • Rule 10TA to 10THD – Safe Harbour Rules for International Transactions & Specified Domestic Transactions • Rule 10U – GAAR not to apply in certain cases • Rule 10UA – Determination of consequences of impermissible avoidance arrangement • Rule 10UB to 10UF – Reference to PCIT/CIT for invocation of GAAR • Rule 10V to 10VB – Certain activities not to constitute business connection in India • Rule 11A – Medical authority for certifying autism, cerebral palsy and multiple disabilities and certificate to be obtained from the medical authority for the purposes of deduction under sections 80DD & 80U • Rule 11AA – Requirement for approval of institution or fund under section 80G(5)(vi) • Rule 11B – Deduction in respect of rents paid • Rule 11DD – Deduction in respect of the medical treatment of specified diseases & ailments • Rule 11EA – Guidelines for specifying industrially backward districts for the purpose of deduction under section 80-IB(5) • Rule 11-OA & 11-OB – Guidelines for notification of certain specified businesses under section 35AD • Rule 11P to 11T – Tonnage Tax Scheme for Shipping Companies • Rule 11U & 11UA – Determination of fair market value of property other than immovable property • Rule 11UAA & 11UAD – Special provision for full value of consideration for transfer of share other than quoted share • Rule 11UAB – Determination of Fair Market Value for Inventory • Rule 11UAC – Cases in which provisions of section 56(2)(x) not to apply • Rule 11UAE – Computation of fair market value of capital assets for the purposes of section 50B • Rule 11UB & 11UC – Determination of value of assets and apportionment of income in certain cases • Rule 11UD – Thresholds for the purposes of significant economic presence • Rule 11UE & 11UF – Indirect transfer prior to 28-5-2012 of assets situated in India • Rule 12 – Return of income • Rule 12A – Preparation of return by authorised representative. • Rule 12AA – Verification of return by whom • Rule 12AB – Conditions for furnishing return of income by persons referred to in section 139(1)(b) • Rule 12AC – Updated return • Rule 12AD – Return of income under section 170A • Rule 12C - Tax on income accruing/arising to/received from venture capital companies and venture capital funds • Rule 12CA – Tax on income of unit holder and business trust • Rule 12CB – Tax on income of investment fund and its unit holders • Rule 12CC – Tax on income from Securitisation Trusts • Rule 12D – Power to call for information by prescribed Income-tax Authority • Rule 12E – Regular assessment • Rule 12F – Inquiry before assessment • Rule 14 – Inquiry before assessment • Rule 14A & 14B – Special audit • Rule 15 – Notice of demand • Rule 15A – Declaration under section 158A • Rule 16 – Application under section 158AB to defer filing of appeal before the ITAT or the jurisdictional High Court • Rule 16B – Exemption in respect of remuneration/fee/any other income received by consultant or his employee • Rule 16C – Exemption in respect of income of a fund for the welfare of employees or their dependants • Rule 16CC – Form of audit report prescribed under 10th proviso to section 10(23C) • Rule 16DD – Special provision in respect of newly established undertakings in free trade zone, etc. • Rule 17 – Exercise of option, etc., under section 11 or 10(21) • Rule 17A – Application for registration of charitable or religious trusts, etc. • Rule 17AA – Books of account and other documents to be kept and maintained • Rule 17B – Audit report in case of charitable or religious trusts • Rule 17C – Forms or modes of investment or deposits by a charitable or religious trust or institution • Rule 17CA – Special provisions relating to voluntary contributions received by electoral trust • Rule 17CB – Tax on accreted income of certain Trusts and Institutions • Rule 18AAA – Prescribed authority for the purposes of section 80G(2)(a)(iiif) • Rule 18AAAAA – Guidelines for specifying an association/ institution for the purposes of section 80G(2)(c) • Rule 18AB – Furnishing of statement of particulars and certificate under section 80G(5)(viii)/(ix) or under section 35(1A) • Rule 18BBB – Form of audit report for claiming deduction under section 80-IA/80-IB/80-IC • Rule 18BBE – Computation of profits of certain activities forming an integral part of a highway project • Rule 18C – Eligibility of industrial parks for benefit under section 80-IA(4)(iii) • Rule 19AB – Form of report for claiming deduction under section 80JJAA • Rule 19AC – Form of certificate to be furnished under section 80QQB(3) • Rule 19AD – Prescribed authority & form of certificate to be furnished under section 80RRB(2) • Rule 19AE – Form of accountant's report to be furnished under section 80LA(3) • Rule 20 – Guidelines for approval under section 80C(2)(xix) • Rule 20A – Guidelines for approval under section 80C(2)(xx) • Rule 21A – Relief when salary is paid in arrears or in advance, etc. • Rule 21AA – Furnishing of particulars for claiming refund under section 89 • Rule 21AAA – Taxation of income from retirement benefit account maintained in a notified country • Rule 21AB – Information to be provided for claiming relief under an agreement referred to in sections 90 & 90A • Rule 21AC – Furnishing of authorisation and maintenance of documents, etc., for the purposes of section 94A • Rule 21AD – Exercise of option under section 115BA(4) • Rule 21AE – Exercise of option under section 115BAA(5) • Rule 21AF – Exercise of option u/s 115BAB(7) • Rule 21AG – Exercise of option under section 115BAC • Rule 21AH – Exercise of option under section 115BAD(5) • Rule 21AI, 21AIA & 21AJA – Other conditions for specified fund & computation of exempt income of such fund for the purposes of section 10(4D) • 21AJ & 21AJAA – Determination of income of a specified fund under section 115AD(1A)/(1B) • Rule 21AK – Exemption in respect of any income accrued/arisen to/received by a non-resident with regard to specified forwards contracts/derivatives entered into with an offshore banking unit of an IFSC • Rule 21AL – Other conditions required to be fulfilled by the original fund • Rule 26 to 37BC – Deduction of tax at source • Rule 29A – Form of certificate to be furnished under section 80QQB(4)/80RRB(3) • Rule 37C to 37J – Collection of tax at source • Rule 38 & 39 – Payment of advance tax • Rule 40B – Accountant's report u/s 115JB(4) • Rule 40BA – Accountant’s report u/s 115JC(3) • Rule 40BB – Determination of amount received by domestic company in respect of issue of shares • Rule 40G – Refund claim under section 239A • Rule 42 to 44 – Tax clearance certificates • Rule 44DA – Exercise of option under section 245M(1) and intimation thereof • Rule 44DAA to 44DAD – Dispute Resolution Committee • Rule 44E to 44FA – Advance Rulings • Rule 44G – Mutual Agreement Procedure • Rule 44GA – Procedure to deal with requests for Bilateral/Multilateral Advance Pricing Agreements • Rule 45 & 46 – Form of Appeal to CIT(A) & Mode of Service • Rule 46A – Production of additional evidence before CIT(A) • Rule 47 – Form of appeal and memorandum of cross-objections to Appellate Tribunal • Rule 49 to 66 – Authorised representatives • Rule 67 to 81 – Recognised provident funds • Rule 82 to 97 – Approved superannuation funds • Rule 98 to 111 – Approved gratuity funds • Rule 111AA & 111AB – Reference to Valuation Officer • Rule 111B – Publication and circulation of Board's order • Rule 112 – Search and seizure • Rule 112C – Release of remaining assets • Rule 112D – Requisition of books of account, etc. • Rule 112E – Form of information under section 133B(1) • Rule 113 – Disclosure of information respecting assessees • Rule 114 & 114AAA – Application for allotment of a Permanent Account Number • Rule 114A – Application for allotment of a Tax Deduction and Collection Account Number • Rule 114AAB – Class or classes of persons to whom provisions of section 139A shall not apply • Rule 114B, 114BB, 114C & 114D – Quoting/Intimation of Permanent Account Number • Rule 114BA – Transactions for which persons are required to apply for allotment of PAN • Rule 114DA – Furnishing of annual statement by a non-resident having a liaison office in India • Rule 114DB – Information or Documents to be furnished u/s 285A • Rule 114E to 114H – Furnishing of Statement of Financial Transaction (SFT) • Rule 114-I – Annual Information Statement (AIS) • Rule 115 – Rate of exchange for conversion into rupees of income expressed in foreign currency • Rule 115A - Rate of exchange for conversion of rupees into foreign currency and reconversion of foreign currency into rupees for the purposes of computation of capital gains under 1st proviso to section 48 • Rule 117B & 117C – Recovery by TRO • Rule 119A – Procedure to be followed in calculating interest • Rule 119AA – Modes of payment for the purpose of section 269SU • Rule 121A – Form of statement to be furnished by producers of cinematograph films or persons engaged in specified activity • Rule 125 – Electronic payment of tax • Rule 126 – Computation of period of stay in India in certain cases • Rule 127 – Service of notice, summons, requisition, order and other communication • Rule 127A – Authentication of notices and other documents • Rule 128 – Foreign Tax Credit • Rule 129 – Form of application under section 270AA • Rule 130 – Omission of certain rules and forms and savings • Rule 131 – Electronic furnishing of forms, returns, statements, reports, orders, etc. • Rule 132 – Application for Recomputation of Income u/s 155(18)
Download or read book Taxmann s Guide to Minimum Alternate Tax MAT Alternate Minimum Tax AMT Comprehensive analysis in light of Income tax Act Rules relevant Case Laws written by Taxmann and published by Taxmann Publications Private Limited. This book was released on 2022-05-16 with total page 35 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book provides a comprehensive analysis of Minimum Alternate Tax (MAT) & Alternate Minimum Tax (AMT). The Present Publication is the 2nd Edition (2022) authored by Taxmann's Editorial Board. The law stated in this book is amended by the Finance Act 2022, with the following noteworthy features: • [Discussions on Liability/Exemption to/from MAT] is included in this book • [Discussions on Liability to Pay AMT] is included in this book • [Computation of Profit & MAT] is discussed in light of the following: o Income-tax Act 1961 o Income-tax Rules 1962 o Relevant Case Laws • [Clause-wise Analysis of Audit Report in Form 29B] is discussed in this book • [Clause-wise Analysis of Audit Report in Form 29C] is discussed in this book The detailed contents of the book are as follows: • Introduction • Who is liable to pay MAT • Book Profits • Net profit as per profit and loss account • Income-tax paid/payable/provision for income-tax • Amounts carried to reserves • Provisions for unascertained liabilities • Provisions for losses of subsidiary companies • Dividends paid or proposed • Expenditures related to tax-free incomes • Expenditures relatable to the share of income in AOP/BOI • Expenditures relatable to income of foreign company taxable at less than MAT rate • Notional loss of sponsors of REITs and InvITs on the exchange of shares in SPV for units of REIT/InvIT or due to change in the value of units or loss on the transfer of units • Expenditures relatable to royalty income in respect of patents taxable under Section 115BBF • Amount of depreciation • Amount of deferred tax and provision thereof • Amount or amounts set aside as provision for diminution in the value of any asset • Revaluation reserve in respect of assets retired/disposed of • Gain to the sponsor of REIT/InvIT on the transfer of units • Withdrawals from reserves or provisions • Tax-free income under Section 10/11/12 • Share of income from AOP/BOI of which the company is a member • Income of foreign company taxable at less than MAT rate • Notional gain on the exchange of shares of SPV for units of REIT/InvIT & actual gain from transfer of such units • Loss to the sponsor of REIT/InvIT on the transfer of units • Royalty income of patentee – Company taxable under Section 115BBF @ 10% • Unabsorbed depreciation and loss bought forward in case of a company whose board of directors has been suspended by NCLT • Loss bought forward (excluding unabsorbed depreciation) and unabsorbed depreciation in case of a company whose CIRP application has been admitted under the Insolvency and Bankruptcy Code • Loss bought forward or unabsorbed depreciation • Profits of a sick industrial company • Amount of deferred tax credited to profit & loss account • Adjustments to book profit required in case in Ind AS companies • Computation of book profit of the 'resulting company' in case of a demerger • MAT credit • Applicability of audit under section 115JB • Audit Report: Para 1 of Form No. 29B • Audit Report: Para 2 of Form No. 29B • Audit Report: Para 3 of Form No. 29B • Audit Report: Annexure to Form No. 29B
Download or read book Taxmann s Analysis Key Observations from NFRA Order for Professional Misconduct written by Taxmann and published by Taxmann Publications Private Limited. This book was released on 2023-06-28 with total page 11 pages. Available in PDF, EPUB and Kindle. Book excerpt: The National Financial Reporting Authority (NFRA) has censured an Institute of Chartered Accountants of India (ICAI) member for negligence and misconduct. Key points: • Violation of AS 11 – The company didn't recalculate its foreign loan with the closing rate, keeping the book value instead • Non-disclosure of Impacts – The auditor didn't think the unadjusted foreign loan mattered, so didn't disclose it. NFRA found no workpapers showing how this decision was reached • Incorrect Lease Accounting – The firm treated unpaid lease receivables as fixed assets, ignoring AS 19 rules • Missing Depreciation Information – Adjustments, additions, or deductions in the gross block and depreciation for the previous year were not disclosed • Non-disclosure of Outstanding Receivables – Trade receivables outstanding over six months weren't disclosed, breaching Schedule III The issues, noted by NFRA in its 12.06.2023 order, demonstrate the auditor's severe lack of due diligence.
Download or read book Taxmann s Analysis Changes Introduced in New ITR Forms 1 and 4 Notified for Assessment Year 2024 25 written by Taxmann and published by Taxmann Publications Private Limited. This book was released on 2023-12-26 with total page 12 pages. Available in PDF, EPUB and Kindle. Book excerpt: Surprising taxpayers with an unexpected and welcome gesture, the Central Board of Direct Taxes (CBDT) has played the role of an early Santa Claus this year by notifying the Income Tax Return (ITR) Forms 1 and 4 for the Assessment Year 2024-25. We have scrutinized the new ITR Forms and have identified the key changes in new ITR forms viz-a-viz last year's ITR Forms. These changes have been explained in this article
Download or read book Taxmann s Analysis Detailed Checklist Audit of Bank Balances written by Taxmann and published by Taxmann Publications Private limited. This book was released on 2024-04-05 with total page 15 pages. Available in PDF, EPUB and Kindle. Book excerpt: Conducting an audit of bank balances is critical for ensuring the accuracy and integrity of a company's financial records. Being one of the most risk-prone items in the financial statement, verification of bank balances safeguards against errors and discrepancies. It serves vitally in maintaining transparency and accountability and forming an opinion under the audit report. This article aims to guide auditors through the intricate steps necessary to examine and validate bank balances, including: ‣ Risk Assessment, ‣ Internal Control Evaluation, ‣ Cut-off Procedure, ‣ Bank Reconciliation Statement (BRS) etc.
Download or read book Taxmann s TDS Ready Reckoner Covering detailed analysis on provisions of TDS TCS along with Alphabetical TDS Reckoner TDS Charts Illustrations etc Finance Act 2023 written by Taxmann and published by Taxmann Publications Private Limited. This book was released on 2023-04-06 with total page 21 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book provides a ready referencer for all sections of tax deducted at source (TDS) and tax collected at source (TCS) of the Income-tax Act. All provisions of TDS and TCS are covered in independent chapters with prominent headings for pinpointed discussions on all aspects of the law and its compliance. The key highlights of this book are as follows: • Alphabetical Reckoner of transactions for TDS/TCS/SFT • TDS Charts The Present Publication is the 29th Edition and has been amended by the Finance Act 2023. This book is authored by Taxmann's Editorial Board and divided into four divisions, namely: • Introduction • Tax Deduction at Source • Tax Collection at Source • Statement of Financial Transactions The key features of the book are as follows: • [Detailed Analysis] of TDS and TCS provisions, including the new section 194BA (providing TDS on winnings from online games introduced by the Finance Act 2023) • [Tabular Format] to provide an overview of all provisions of TDS and TCS • [Information on all Interconnected Provisions] are provided in a single place • [Complete Analysis of the Rules] prescribed in respect of TDS and TCS • [Illustrations] for easy understanding of various complex provisions • [Guidance on the Controversial Issues] with supporting Case Laws • [Circulars and Notifications] are linked with the relevant provisions • [Forms] required for meeting compliance requirements The detailed contents of the book are as follows: • Introduction o Overview of TDS/TCS Provisions • Tax Deduction at Source o TDS from Salaries o Deduction of Tax at Source from Employees' Provident Fund Scheme o Deduction of Tax at Source from Interest on Securities o Deduction of Tax at Source from Dividends o Deduction of Tax at Source from Interest other than Interest on Securities o Deduction of Tax at Source from Winnings from Lottery or Crossword Puzzles, etc. o Tax on winning from Online Games o Deduction of Tax at Source from Winnings from Horse Races o Deduction of Tax at Source from Payments to Contractors/Sub-Contractors o Deduction of Tax at Source from Insurance Commission o Payment in respect of Life Insurance Policy o Deduction of Tax at Source from Payments Qua Deposits under NSS o Deduction of Tax at Source from Payments on Account of Repurchase of Units by Mutual Funds or Units by UTI o Deduction of Tax at Source from Commission on Sale of Lottery Tickets o Deduction of Tax at Source from Commission or Brokerage Payments o Deduction of Tax at Source from Rent Payments o Deduction of Tax at Source from Payment on Transfer of Certain Immovable Property o Deduction of Tax at Source from Rent Payments in Certain Cases o Deduction of Tax at Source from Joint Development Agreement o Deduction of Tax at Source from Fees for Professional or Technical Services o Deduction of Tax at Source from Income from Units o Deduction of Tax at Source on Payment of Compensation on Acquisitions of Certain Immovable Property o Income from Units of a Business Trust o Income from Units of an Investment Fund o Income from Investment in Securitisation Trust o Deduction of Tax at Source from Payments by Individual/HUF o Deduction of Tax at Source from certain Payments in Cash o Deduction of Tax at Source from Payments by E-Commerce Operator to E-Commerce Participant o Deduction of Tax at Source in case of Specified Senior Citizens o Deduction of Tax at Source on Payment of Certain Sum for Purchase of Goods o Deduction of Tax on the benefit of Perquisite in respect of Business or Profession o Deduction of Tax on Payment on Transfer of Virtual Digital Assets o Deduction of Tax at Source from Payments to Non-Residents o Deduction of Tax at Source from Income in Respect of Units of Non-Residents o Deduction of Tax at Source from Income from Units Payable to Off-Shore Funds o Deduction of Tax at Source on Income from Foreign Currency Bonds or Global Depository Receipts of Indian Companies o Deduction of Tax at Source from Income of Foreign Portfolio Investor from Securities o General Exemptions from Deduction of TDS o Certificate for Deduction of NIL/Lower TDS o Non-Deduction of Tax based on Self Declaration of Deductee in Form 15G/Form 15H o Credit for TDS [Section 199 Read with Rule 37BA] o Deposit of TDS Deducted with Central Government (Section 200/Rule 30) o Filing of TDS Returns (Section 200(3)/Rule 31A) o TDS Certificates o Requirement on Payee to Furnish PAN/Aadhar Number for TDS (Section 206AA/Rule 37BC) o Special Provisions for Deduction of Tax at Source for Non-Filers of Income-Tax Return o Quarterly Returns by Banks to Report Interest Payments (Section 206A) o Consequences of Default in Obligations Relating to TDS • Tax Collection at Source • Statement on Financial Transactions
Download or read book Taxmann Advisory s Strengthening Anti Money Laundering Measure An In Depth Analysis of the Recent Amendment to PMLA written by Taxmann and published by Taxmann Publications Private Limited. This book was released on 2023-05-15 with total page 11 pages. Available in PDF, EPUB and Kindle. Book excerpt: This document analyses recent amendments to India's Prevention of Money Laundering Act (PMLA), intended to bolster anti-money laundering (AML) measures. The Central Government broadened the act's scope to include new reporting entities: company directors and secretaries, firm partners, express trust trustees, and nominee shareholders. They are now required to report certain business activities, thereby contributing to the effort against money laundering. Particular attention is drawn to five areas: • The term "formation agent" now applies to individuals involved in incorporating companies and limited liability partnerships (LLPs), subject to PMLA provisions. Ambiguities remain around the term's precise definition. • People acting as directors, secretaries, or firm partners must adhere to PMLA obligations, including maintaining financial transaction records, verifying clients, and reporting suspicious transactions. • Commercial property owners providing registered office or business addresses for a company, LLP, or trust are now reporting entities under the PMLA. Some exemptions apply for lease-related activities. • Trustees of express trusts face increased scrutiny and potential compliance costs as they fall under PMLA purview, requiring stringent reporting and monitoring systems. • Nominee shareholders must disclose the ultimate beneficial owner's identity, increasing transparency in share ownership. However, certain activities are exempt from PMLA purview, like employee activities for their employers and activities carried out by certain professionals. These amendments aim to enhance AML measures by expanding reporting requirements and accountability, confronting money laundering and terrorist financing more effectively. However, they also bring increased compliance obligations for various entities.
Download or read book Taxmann s Income Tax Compliance Calendar for F Y 2024 25 Yearly Half Yearly Quarterly Monthly Event based written by Taxmann and published by Taxmann Publications Private Limited. This book was released on 2024-05-17 with total page 50 pages. Available in PDF, EPUB and Kindle. Book excerpt: Under the Income-tax Act, 1961, several essential due dates and responsibilities must be met periodically to ensure the timely submission of various forms and statements to avoid interest and penalties. This article compiles the deadlines for various compliances, which include: ‣ Yearly Compliances – Filing of Returns for Securities Transaction Tax (STT), Statements of Financial Transactions (SFT), Returns of Income, Tax Audit Reports, and More ‣ Half-yearly Compliances – Furnishing Declarations Received in Form 60 ‣ Quarterly Compliances – Furnishing TDS/TCS Statements, Payment of Advance Taxes, and More ‣ Monthly Compliances – Depositing TDS/TCS, Furnishing Statements by Stock Exchanges, and More ‣ Event-based Compliances – Applying for PAN Allotment, Filing Applications in Form 10AB by Charitable Trusts, etc.
Download or read book Taxmann s Equalisation Levy Commodities Transaction Tax Securities Transaction Tax with Rules Annotated Amended text as Amended by the Finance Act 2021 2021 Edition written by Taxmann and published by Taxmann Publications Private Limited. This book was released on 2021-04-05 with total page 16 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book is a compilation of all the Laws on the following: • Equalisation Levy with Rules • Commodities Transaction Tax with Rules • Security Transaction Tax with Rules The Present Publication is the Latest Edition, as amended by the Finance Act 2021. This book incorporates the following statutory materials: • Equalisation Levy 𝚘 Arrangement of Sections 𝚘 Text of Equalisation Levy as amended by the Finance Act, 2021 𝚘 Notification u/s 164 of the Finance Act, 2016 • Equalisation Levy Rules, 2016 𝚘 Arrangement of Sections 𝚘 Text of Equalisation Levy Rules, 2016 as amended upto date • Commodities Transaction Tax 𝚘 Arrangement of Sections 𝚘 Text of Commodities Transaction Tax as amended upto date • Commodities Transaction Tax Rules, 2013 𝚘 Arrangement of Sections 𝚘 Text of Commodities Transaction Tax Rules, 2013 as amended upto date • Securities Transaction Tax 𝚘 Arrangement of Sections 𝚘 Text of Securities Transaction Tax as amended by the Finance Act, 2021 • Securities Transaction Tax Rules, 2004 𝚘 Arrangement of Sections 𝚘 Text of Securities Transaction Tax Rules, 2004 as amended upto date • Also Available 𝚘 [4th Edition] of CTC’s International Taxation – A Compendium (Set of 4 Vols.) | 5,200 Pages | 200+ Experts | 137 Articles | This book is a collection of incisive & in-depth articles on international taxation, which serves as a reference manual and indeed, a practice guide for its readers 𝚘 Roy Rohatgi on International Taxation | Provides in-depth treatment of the key topics in international taxation, building up from detailed explanation of the basic concepts, all the way to soldi analysis pf the complex transactional issues 𝚘 [2021 Edition] of Taxmann’s Taxation of Expatriate Employees & Regulatory Aspects | Comprehensive commentary to understand the tax & regulatory aspects of cross-border movement of employees (secondment arrangements), for both expatriates & company 𝚘 CTC’s Permanent Establishment – Emerging Trends | Complete guide for resolution of complexities involved in the concept of permanent establishment 𝚘 Taxmann’s International Taxation Digest | Comprehensive digest of decisions of Supreme Court, High Courts, ITAT and AAR on tax treaties and international taxation, arranged as per Articles of OECD Model Tax Conventions
Download or read book Taxmann s Analysis Accounting for Contingent Consideration in Mergers and Acquisitions written by Taxmann and published by Taxmann Publications Private Limited. This book was released on 2022-02-08 with total page 11 pages. Available in PDF, EPUB and Kindle. Book excerpt: Contingent consideration is frequently incorporated in the price structures of merger and acquisition transactions. It is a consideration that depends upon some future uncertain events. The accounting treatment of contingent consideration for entities complying with Ind AS are provided by Ind AS 103 Business Combinations. For entities complying with AS, there is no specific accounting treatment available except for AS 14, which is applicable in the case of Amalgamations. Key Points Covered: • Accounting for Contingent Consideration in Books of Buyer Under Indian Accounting Standards (Ind AS) o Accounting of Contingent consideration under Accounting Standards (AS) • Contingent Consideration in Standalone Books of Seller o Under Indian Accounting Standards (Ind AS) o Under Accounting Standards (AS)
Download or read book Taxmann s Analysis Insider Trading Reforms Balancing Regulations with Operational Realities for Effective Implementation written by Taxmann and published by Taxmann Publications Private Limited. This book was released on 2023-11-27 with total page 13 pages. Available in PDF, EPUB and Kindle. Book excerpt: SEBI's Working Group, formed in July 2023, has proposed crucial changes to 'Trading Plans' under the SEBI (Prohibition of Insider Trading) Regulations, 2015. Aimed at enhancing flexibility for those consistently in possession of Unpublished Price Sensitive Information (UPSI), the proposals include a shorter cool-off period, reduced coverage duration, and revamped disclosure formats. Public comments are invited until December 15, 2023. The article emphasizes the underutilization of Trading Plans despite their introduction in 2015, substantiating its point with data showing minimal disclosures by insiders. Key recommendations include: ‣ Reducing the Cool-off Period ‣ Reducing the Coverage Period ‣ Eliminating the Blackout Period ‣ Introducing Price Limits ‣ Revisiting Contra-trade Restrictions ‣ Enforcing a Specific Timeline for Trading Plan Disclosure
