Tax appeals must be filed on time, and the Supreme Court has called for an electronic system to track revenue litigation. The Supreme Court on Thursday called for a system to track revenue litigation, lamenting the Union’s ‘500 or 600-day’ delay in submitting appeals, even in legitimate tax cases. The Court urged the Centre to
INTRODUCTION The Partnership Act is a comprehensive structure for contractual and partner partnerships and the basis for the most common form of small business organization. The Indian Partnership Act enacted in the Year 1932 establishing the partnership law relating to the relationship between individuals who have decided to share the income of a business carried
INTRODUCTION Corruption has always been a hot topic in a fast growing economy like India as it has been one of the major reasons holding back its growth to full potential. Legislature has made innumerable efforts at trying to curb it over the years, some of which would be discussed in this write-up. It has
INTRODUCTION Salary refers to the amount/remuneration received by a person known as an employee, time by time, for service rendered by him as a result of an express or implied contract. The existence of the employer-employee relationship is the necessity for taxing comes under the head ‘salaries. The salary received by a partner from his
Introduction Income tax is the tax that is paid by any taxpayer on the income received other than companies such as by an individual or a Hindu Undivided Family. The generated revenue is vital for the smooth functioning of the country as the government needs these funds to foster economic growth and development. The tax
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