The due date for filing the return of income and wealth for the assessment year 2015- 16 for all assessees other than (a) corporate-assessee or (b) non-corporate assessee (whose books of account are required to be audited) or (c) working partner (of a firm whose accounts are required to be audited) or (d) an assessee who is required to furnish a report under section 92E, has been extended from 31st July, to 31st August, 2015.

TeDiouS provisions appear to be simple but are complex and have been subject matter of litigation over the years.

In the Income-tax Rules, 1962, in Part XV, after Rule 125, the following Rule shall be inserted to determine the period of stay of crew members of foreign bound ships in India.

In a recent decision, the Hon'ble Bangalore Tribunal has held that the definition of royalty could not be applied to purchase of software which did not involve any commercial exploitation thereof...

When a Multinational Enterprise (MNE) saves costs by relocating facilities from a high-cost jurisdiction to a low-cost one, it is considered location saving under transfer pricing terminology.

Section 186(7) of the Companies Act, 2013 specifies that no loan shall be given under the said section at a rate of interest lower than the prevailing yield of one year, three year, five year or ten year...

The Companies Act, 2013 has defined internal control in two places. One definition is given under Section 134(5) (e). Another definition is given in Section 134(10) by way of inclusion of Standard on Auditing.

The ICDS on tangible fixed assets is based on the Accounting Standard on Accounting for Fixed Assets (AS-10) notified by The Companies Accounting Standards Rules, 2006.

The concept of trusts goes back to the 1880s and in today's age and time trust structures are becoming increasingly important when individuals seek to plan their estate.

The new indirect tax regime i.e. GST has come into effect from 1st July 2017.

Section 43 of the Act requires that a share capital of a company limited by shares shall be of two kinds i.e. equity and preference.

The new regulations have included issuance of shares by way of ‘Sweat Equity Shares' also within its purview whereas the old regulation were limited only to issue of shares under ‘ESOP Scheme'.