Will National Monetisation Pipeline (NMP) succeed in helping government earn revenues?
0 The Rs6 trillion National Monetisation Pipeline (NMP) unveiled by finance minister Nirmala Sitharaman on Monday has captured everybody’s attention. However, the Opposition has alleged that the government is trying to sell India’s crown jewels. Unlocking Capital The NMP will help the authorities ease fiscal constraints and free up the balance sheets for more greenfield … Read more Will National Monetisation Pipeline (NMP) succeed in helping government earn revenues?
Key Highlights of the SEBI Board Meeting
0 The SEBI Board held its meeting in Mumbai on 06.08.2021 under the chairmanship of Shri Ajay Tyagi. The Part-Time Members joined the meeting through video conferencing. The key decisions taken by the Board include as viz. Relaxation of the lock-in requirements for promoter shareholding in terms of IPO/FPO The merger of Share Based Employee Benefits … Read more Key Highlights of the SEBI Board Meeting
The Benefits Available for Start-Ups under the Income Tax Act
0 Start-up India is a flagship initiative of the Government of India, intended to build a strong eco-system for nurturing innovation and start-ups in the country that will drive sustainable economic growth and generate large-scale employment opportunities. The Government, through this initiative, aims to empower start-ups to grow through innovation and design. The action plan … Read more The Benefits Available for Start-Ups under the Income Tax Act
Foreign travel expenses claimed in respect of wife not allowable if wife wasn’t an employee of assessee’s concern
0 Judiciary and Counsel Details M. Duraiswamy and Mrs. R. Hemalatha, JJ. Ms. Sri. Niranjan Srinivasan for the Appellant. T.R. Senthil Kumar, Sr. Standing Counsel and Mrs. K.G. Usha Rani, Standing Counsel for the Respondent. Facts of the Case Assessee filed return of income. During assessment proceedings, Assessing Officer (AO) disallowed the foreign expenses incurred in respect of assessee’s … Read more Foreign travel expenses claimed in respect of wife not allowable if wife wasn’t an employee of assessee’s concern
No disallowance u/s 40A(3) if ultimate payments made to labourers were below threshold limit: ITAT
0 Facts of the Case Assessee filed a return of income, and his case was selected for scrutiny. During assessment proceedings, Assessing Officer (AO) found that assessee had made a payment of Rs. 18,00,000 to labourers in cash. Consequently, AO made disallowances under Section 40A(3). Aggrieved by order of AO, assessee preferred an appeal before … Read more No disallowance u/s 40A(3) if ultimate payments made to labourers were below threshold limit: ITAT
