To address this issue, let us first understand an interplay of Sec 148,148A and 149(1)(b) and the relevant extracts are re-produced below:
Section 148 of the Act- income escaping assessment
Before making the assessment, reassessment or...
To promote timely payments to micro and small enterprises, payments made to such enterprises have been included within the ambit of section 43B of the Act vide FA 2023. A new clause (h) has...
Definition
PAM, TAM, SAM and SOM are acronyms that represents different subsets of a market.
PAM or Potential Addressable Market includes people not currently included in your target market, but potentially could be in future.
TAM or Total...
The following are the guidelines for assistance to incubators under the Startup India Seed Fund Scheme
Experts Advisory Committee (EAC) shall evaluate incubators for grant assistance. A Grant of up to Rs. 5 (five) crore...
Parinda Borda vs. ITO
Where the assessee had entered into agreement to sale cum possession of immovable property and paid substantial consideration prior to the date of amendment of the section 56(2)(vii)(b)(ii) of the...
CBDT vide Notification No.119/2021/F. No. 225/76/2021-ITA.II. dated 11 October,2021 exempts the following class of persons subject to certain conditions specified from the requirement of furnishing...
What is an Employee Stock Option Plan (ESOP)?
An employee stock ownership plan (ESOP) is basically a plan given to employee’s wherein subscription to the same gives employee(s) ownership interest in the company. ESOPs give...
According to a recent notification by Central Board Of Direct Taxes (CBDT) vide Notification No. 110/2021/F. No. 275/27/2021-IT(B) dated 17.09.2021, no tax shall be deducted under section 194A of the Income Tax Act,1961...