As per section 4 of the Indian Partnership Act, 1932 defines firm as under: “Persons who have entered into partnership with one another are called individually "partners" and collectively "a…
EXCISE/ST/VAT : Once correlation is established between assessee-service provider's invoices and undertakings provided by embassy of foreign country to assessee, substantive exemption could not be denied on ground that assessee's…
INCOME TAX : Section 205 bars the Department from denying to employee-assessee the credit of TDS deducted by employer and reflected on the IT portal and also from raising direct…
GST/ST - Amount deposited during investigation and/or pending litigation is ipso facto pre-deposit on which interest is payable @ 12% paGST/ST - Amount deposited during investigation and/or pending litigation is…
Lok Sabha has passed The Farm Laws Repeal Bill, 2021 to repeal three farm laws namely Farmers (Empowerment and Protection) Agreement on Price Assurance and Farm Services Act, 2020, the…
COMPETITION LAW : Where in a tender floated by GAIL for restoration of well site locations in a GAIL operated block, OP bidders submitted their bids from a common internet…
The Directorate General of Foreign Trade has issued advisory for exporters and members of Trade to ensure safe custody of duty scrips, digital tokens, documents etc. It is also requested…
INCOME TAX : All expenses incurred prior to commencement of business are to be treated as pre-operative expenses and expenses incurred which do not form part of work-in-progress like office…
FEMA, BANKING amp; INSURANCE: Bar under section 34 SARFAESI Act on filing civil suit is attracted if allegations of 'fraud' are made without any particularsFEMA, BANKING amp; INSURANCE: Bar under…
The securities market regulator, SEBI in an interpretative letter as clarified that services of creation or rebalancing of foreign stacks by a SEBI registered Investment adviser doesn’t come under purview…