Day: October 21, 2020

MCA relaxes minimum residency period of at least 182 days by at least one director u/s 149 of the Companies Act, 2013 for FY 2020-­2021 General Circular No. 36/2020 File No.2/01/ 2020-CL-VGovernment of IndiaMinistry of Corporate Affairs 5th Floor, ‘A’ Wing, Shastri Bhawan,Dr. R. P. Road, New Delhi-110001. Dated: 20th October, 2020 ToThe …

For computing allowable partners remuneration u/s 40(b) AO can not allocate net profit into different heads to exclude interest income  ABCAUS Case Law CitationABCAUS 3413 (2020) (10) ITAT Important case law relied upon by the parties:CIT V/s J. J. Industries (2013) 358 ITR 531Md. Serajuddin & Bros. vs. …