Eligibility certificates for availing income tax benefits by startups. Government Constitutes an Inter-Ministerial Board to issue such certificates

Eligibility certificates for availing income tax benefits by startups. Government Constitutes an Inter-Ministerial Board to issue such certificates

April 25, 2016 Start-ups
MINISTRY OF COMMERCE AND INDUSTRY (DEPARTMENT OF INDUSTRIAL POLICY AND PROMOTION) NOTIFICATION  New Delhi, the 22nd April, 2016 G.S.R. 439(E).—The Government of India, vide Notification No. G.S.R. 180(E), dated 17th February, 2016 defined ‘startup’ under Startup India initiative, and has declared that a certificate of eligibility shall be …
Uttarakhand High Court Judgment quashing Presidential Rule under Article 356. It was without any basis at all, in fact, it was a blatant falsehood.

Uttarakhand High Court Judgment quashing Presidential Rule under Article 356. It was without any basis at all, in fact, it was a blatant falsehood.

April 25, 2016 High Courts, Judgments
Today, the Hon’ble High Court of Uttarakhand made its landmark judgment online that quashed the Presidential Rule in Uttarakhand which was imposed under Article 356 of the Constitution of India. The petitioner had alleged that the ruling BJP at the Centre, in pursuit of its objective to overthrow the …
Start-Ups Intellectual Property Protection SIPP Scheme to facilitate protection of Patents, Trademark and Designs of innovative and interested Start Ups

Start-Ups Intellectual Property Protection SIPP Scheme to facilitate protection of Patents, Trademark and Designs of innovative and interested Start Ups

April 25, 2016 Start-ups
Scheme for Facilitating Start-Ups Intellectual Property Protection (SIPP) Introduction Intellectual Property Rights (lPRs) arc emerging as a strategic bu siness tool ror any business organization to enhance industrial competitiveness . Stru1-Ups, with limited resources and manpower. can sustain in this highly competitive world only through continuous growth  and …
Statement recorded u/s 133A can not be retracted saying survey team exerted force on assessee when he issued a cheque by properly preparing, signing it

Statement recorded u/s 133A can not be retracted saying survey team exerted force on assessee when he issued a cheque by properly preparing, signing it

April 24, 2016 Income Tax, ITAT, Judgments
In a recent judgment, ITAT Chennai has held that a statement recorded u/s 133A can not be retracted saying survey team had exerted force on the assessee when he issued a cheque by properly preparing, signing it for the amount surrendered. Case Law Details: I.T.A.No.1429/Mds./2015 Assessment Year :2007-08 …
Funds shortage due to project expansion was sufficient cause not to impose penalty u/s 221(1) for self assessment tax non payment before filing ITR

Funds shortage due to project expansion was sufficient cause not to impose penalty u/s 221(1) for self assessment tax non payment before filing ITR

April 24, 2016 Income Tax, ITAT, Judgments
In a recent judgment, ITAT Chennai has held that paucity of funds due to project expansion was a sufficient case not to levy penalty u/s 221(1) for non payment of self assessment tax before filing return of income.  Case Law Details: ITA No. 611/Mds/2014  Assessment Year : 2010-11 M/s. …