Excise Duty - 29-Mar-2019

Central Board of Excise and Customs has issued circular No.1063/2/2018-CX dated 16.02.2018, wherein this compiles sixty three orders of Supreme Court, High Courts and CESTAT on the various issues relating to Central Excise, Service Tax and Cenvat Credit has been accepted by the department. This is an exercise has been under taken by the Board to reduce litigations and the cases were pending in the field can be decided with expeditiously, if the questions of law or facts involved are...

Company Law - 28-Mar-2019

beneficial ownership rules’ and introduces ‘significant’ beneficial ownership in India. However, since it is recent, there is a lot of scope to determine how it should be interpreted, in a manner that should fall within the object of the 2017 amendment, which is to curb money laundering. The paper also assesses its impact on corporate layering and tax avoidance strategies used by companies. The introduction of the amendment changes certain ‘tax planning’ strategies...

Income Tax - 29-Mar-2019

Obtaining PAN is may be optional or voluntary like passport, driving license, Aadhaar etc. However, its use is mandatory at required places, like PAN for high-value financial transactions, Driving License for motor driving, passport for foreign travel and more. For payment of direct taxes To file income tax returns To avoid deduction of tax at higher rate than due To enter into specific transaction such as: (a) Sale or purchase of immovable property value exceeding specified...