Union Finance and Corporate Affairs Minister Nirmala Sitharaman has launched the Mutual Credit Guarantee Scheme for MSMEs (MCGS – MSME) for facilitating loans upto Rs 100 crore to MSMEs for purchase of machinery or equipment without collateral, in pursuance of the Union Budget 2024-25 announcement. The Centre on Monday launched the ‘Mutual Credit Guarantee Scheme […]
The Smart Cities Mission Portal is an official online platform launched by the Ministry of Urban Development (MoUD), Government of India, to provide information, updates, and resources related to the Smart Cities Mission (SCM). This mission aims to develop 100 smart cities across India, improving infrastructure, technology, and governance for better urban living. Key Features
Central Know Your Customer (CKYC) is a centralized KYC repository introduced by the Government of India to simplify the KYC process across financial institutions. It eliminates the need to submit KYC documents multiple times for different financial services. Background of CKYC Section 73 of the Prevention of Money Laundering Act, 2002, gives the central government
Removal from register of names of valuers and restoration (1) The 60[Chief Commissioner or Director General] may remove the name of any person from the register of valuers where 61[he] is satisfied, after giving that person a reasonable opportunity of being heard and after such further inquiry, if any, as 61[he] thinks fit to make,— (i) that
Property registration in Haryana is mandatory to ensure the legal ownership of the asset. Although the process entails accumulating relevant documents, paying charges and visiting the sub-registrar’s office,All transactions that involve the sale of immovable property should be registered in India to ensure the transfer of clean title to the owner. The registration of a
(1) The income chargeable under the head “Income from other sources” shall be computed after making the following deductions:—(a) for dividends [excluding those referred to in section 2(40)(f) or interest on securities, any reasonable sum paid as commission orremuneration to a banker or any other person for the purpose of realising such dividend or interest
(1) Irrespective of anything contained in section 93, the following amounts shall not be deductible in computing the income of any assessee chargeable under the head “Income from other sources”:—(a) any personal expenses of the assessee; or(b) any interest chargeable under this Act, payable outside India, on which tax has not been paid or deducted
The provision of section 38(1)(a) shall apply in computing the income of an assessee under section 92, as they apply in computing the income of an assessee under the head “Profits and gains of business or profession”.
All income arising to any person by virtue of transfer,––(a) whether revocable or not, and whether effected before or after the commencement of this Act; and(b) where there is no transfer of assets from which such income arises, shall be chargeable to income-tax as the income of the transferor and shall be included in his
(1) All income arising to any person by virtue of a revocable transfer of assets shall be chargeable to income-tax as income of the transferor and shall be included in his total income.(2) The provisions of sub-section (1) shall not apply, if such transfer—(a) is by way of trust which is not revocable during the
CA Bhuvnesh Kumar Goyal
Chartered Accountants
cabkgoyal@gmail.com
9971782649
Ph: 9971782649
E: cabkgoyal@gmail.com
