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Opinion - Page 7

Understanding The Benami Law In India: FAQs

March 11, 2018

[Source: www.mondaq.com; Article by Bharat Chugh and Kushank Sindhu, Luthra & Luthra Law Offices] In the last few months we have seen a major crackdown on Benami properties and their owners by the Government. Specialised Anti-Benami units have been set up by the Income Tax department across the country and in almost every state and thousands of properties already stand

GST

Constitution Of The GST Appellate Tribunal – Need For Speedy Judicial Remedy

[Source: www.mondaq.com; Author: Smita Singh, Singh & Associates] Ambiguity and delay in any dispute resolution mechanism is undesirable for any system including taxation. Ever since the introduction of GST more than four years ago, we have seen a steep rise in litigation mainly due to the reason of ambiguous legal

TDS & TCS on purchase & sale above Rs.50 Lacs

[By Shaleen Shah (Partner), VNCA] A new section 194Q for Tax Deduction

Income Tax deduction for procurements from MSMEs only upon actual payment

By Shaleen Shah | LinkedIn, assisted by Divyansh Jain Introduction This Note

Time to revisit dividend taxation

January 27, 2009

Income Tax

Taxation of dividends has given rise to an age-old controversy. The classical system taxes dividends in the hands of shareholders. It was thought that this was unfair. Profits distributed by companies have already been taxed. Why tax it again in the hands of shareholders? The argument appealed to the Government.

The impact of IFRS on corporate governance

October 8, 2008

Audits & Assurance·Corporate Laws

Come 2011, and audit committees and board members of Indian companies will have to deal with convergence of Indian GAAP (generally accepted accounting principles) with International Financial Reporting Standards (IFRS), which will have a key impact on their functioning, roles and responsibilities. The audit committees and board members will have

SEBI directive on mandatory internal audit of stock-brokers

September 26, 2008

Audits & Assurance·Corporate Laws

Last month, SEBI issued a circular to he various stock exchanges requiring mandatory internal audit for their stock-brokers / clearing members on a half-yearly basis. The scope of the said audit includes the existence, scope and efficiency of the internal control system, compliance with the provisions of the SEBI Act,

Some transactions fall between service tax and VAT

September 26, 2008

Gujarat VAT & CST·Service Tax & CBEC

A recurring challenge in indirect taxes is that of double taxation of a single transaction. The challenge comes about because a particular transaction is both deemed to be a supply of goods, in terms of the State sales tax/value added tax definitions, as also a provision of services, under the

IS INFLATION-ADJUSTED TAX SYSTEM FEASIBLE?

September 25, 2008