Sales commission related to prior year isn’t allowable in absence of proof that it was contingent on realization of proceeds

Case Details: Meena Circuits (P.) … Continue reading “Sales commission related to prior year isn’t allowable in absence of proof that it was contingent on realization of proceeds”

Can taxpayers claim health & education cess as an allowable expenditure – Budget 2022 proposes retrospective disallowance

Sudeep Das & Ashwath Pai … Continue reading “Can taxpayers claim health & education cess as an allowable expenditure – Budget 2022 proposes retrospective disallowance”

IBBI cancels registration of an IP; debars him from seeking any fresh registration for failing to act in best interest of corporate debtor

Case Details: Vimal Kumar Grover, … Continue reading “IBBI cancels registration of an IP; debars him from seeking any fresh registration for failing to act in best interest of corporate debtor”

RBI relaxes norms relating to Payment and Settlement Systems; removes requirement of submission of returns u/r 6 (2)

Notification No. CO. DPSS. Ovrst. … Continue reading “RBI relaxes norms relating to Payment and Settlement Systems; removes requirement of submission of returns u/r 6 (2)”

SEBI modifies “Master Circular for Depositories dated February 05, 2021″ w.r.t. Opening of Demat account in case of HUF

SEBI has specified certain modifications … Continue reading “SEBI modifies “Master Circular for Depositories dated February 05, 2021″ w.r.t. Opening of Demat account in case of HUF”