Amendment of section 119 In the Finance Act, 2012 (23 of 2012), in section 119, the following provisos shall be inserted, namely:— “Provided that this section shall cease to apply to the person who fulfils the following conditions, namely:— (i) where such person has filed any appeal before an appellate forum or a writ petition […]
Punjab National Bank (PNB) offers a range of financial products to cater to the needs of professionals like doctors, architects, chartered accountants, lawyers, engineers, and more. These loans are designed to help professionals expand their practices, buy equipment, or manage working capital needs. Key Features of PNB Loan for Professionals Purpose of Loan: To finance
Amendment of section 9 In section 9 of the Income-tax Act, 1961 (43 of 1961), in sub-section (1), in clause (i), in Explanation 5, after the third proviso, the following provisos shall be inserted, namely:— “Provided also that nothing contained in this Explanation shall apply to— (i) an assessment or reassessment to be made under section 143, section 144,
PRELIMINARY Short title 1. This Act may be called the Taxation Laws (Amendment) Act, 2021. Practice area’s of B K Goyal & Co LLP Income Tax Return Filing | Income Tax Appeal | Income Tax Notice | GST Registration | GST Return Filing | FSSAI Registration | Company Registration | Company Audit | Company Annual Compliance
Electronic Payment Systems (EPS) in India refer to digital methods of transferring money between individuals, businesses, and financial institutions without using cash or paper-based instruments like cheques. These systems have transformed how transactions are conducted, making payments faster, safer, and more efficient. What is Digital Payment? Digital payments are transactions that occur via digital or
BAANKNET (Bank Asset Auction Network) is a platform that facilitates the sale of bank assets, such as properties, vehicles, and other seized or distressed assets, through online auctions. It was introduced by Indian banks to streamline the process of disposing of non-performing assets (NPAs) and recover dues. Purpose of BAANKNET Resolution of NPAs: Banks often
As per section 92 read with the sub-rule (1) of rule 11 of companies management and the administration rules. The objective of the aforesaid move is to reduce the compliance burden on small companies and (One Person Company) OPC and thus to correct some applied difficulties while filling the aforesaid form. Worthwhile mentioning here that
Every assessee having taxable income, is under obligation of disclosing his income sources to the Income Tax Authority of India. This is done by filing an income tax return. One of the biggest factors which has to be considered in this regard is TDS or tax deducted at source. According to the Income Tax Act, any
A domicile certificate is an essential certificate the proves resident of a particular state or UT issued by the state governments or administration of the respective state or Union Territory. A domicile certificate is a crucial official document that verifies an individual’s residency within a particular state or union territory, sanctioned by the respective state
Service tax is payable to services provided by the provider. It’s similar to excise duty where an amount is payable on goods that are manufactured. It’s a type of indirect tax that is collected by the Government after consuming the taxable services provided by travel agents, restaurants, cable providers, cab services etc. Service tax was
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