Mutual fund maturity rules require proper rollover, redemption, disclosure, and due diligence; investor gains cannot excuse regulatory breaches or pen...
Threshold exemption excludes exempt services, while stamp-paper purchases avoid reverse charge; consequential service tax penalties were also set asid...
Employee conflict disclosures and investment restrictions expand with new recusal duties, post-employment limits, and compliance reporting requirement...
Brought-forward unabsorbed depreciation is added to current-year depreciation and retains the character of depreciation, allowing set-off against income under other taxable heads. Its availability does not depend on the existence of positive business income. Accordingly, unabsorbed depreciation may be set off against income from house property, consistent with the principle that it can be carried forward and adjusted against other taxable income.
Brought-forward unabsorbed depreciation is added to current-year depreciation and retains the character of depreciation, allowing set-off against income under other taxable heads. Its availability does not depend on the existence of positive business income. Accordingly, unabsorbed depreciation may be set off against income from house property, consistent with the principle that it can be carried forward and adjusted against other taxable income.
Note: It is a system-generated summary and is for quick reference only.
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