you can receive any amount from your relatives without paying any income tax as there is no gift-tax at present. There are certain provisions and important points which we will discuss in this post. Gift can be received by the following ways. From Re ..
“A company (hereinafter called C) did a Cenvat fraud. A transporter (called T) assisted the company by providing fake Goods Receipts, when actually the goods were never transported. Original authority confirm the demand and imposed a penalty of ..
It is heartening that the Government has set up a high-level Cabinet Committee under the chairmanship of the Prime Minister to give a major thrust to infrastructure development and keep the focus on this core sector. Allocation of Rs 1 lakh crore, th ..
Earlier, I have written few articles on oppression and mismanagement under section 397/398 of Companies Act, 1956. After looking into an interesting angle while dealing with a Company issue, I have decided to present that inviting comments fro ..
This paper* to attempts to compare the competitiveness of India and China over the last decade: China's GDP was three times that of India in 2007. China's share of GDP to the world was 10.8%, which was double that of India. The average annual growth ..
Executive SummaryLast month, the Federal Government announced that it will overhaul the privacy laws of Australia and implement a consistent privacy law regime. These changes will represent the most material reforms to Australian privacy law since th ..
It is bad luck of our country that our industries have been heavily centralized. Entire textile industry of India has been centralized into 700 spinning mills through which huge amount of 40000 crores of rupees is exploited. In fact, this industry sh ..
The purchase of a sizable quantity of gold by the Reserve Bank of India from the International Monetary Fund is significant not just for India but for the IMF, and the global financial system as well. The RBI has paid approximately $6.7 billion to bu ..
SUMMARY OF THE CASE LAWThe assessee transferred a capital asset which was received by her by way of gift on 1.2.2003. The previous owner had acquired the capital asset on 29.1.1993. In computing capital gains, the assessee claimed that the indexed co ..
General Motors Co. (OTC: MTLQQ) stunned European government and labor leaders yesterday (Wednesday) when it backed out of a deal to sell a majority stake in its Opel and Vauxhall brands to car-parts supplier Magna International Inc. (NYSE: MGA).GM ma ..
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