Electronic certificates of origin enable preferential tariffs under the India-New Zealand FTA when format, verification, and filing requirements are m...
Customs approval for liquid cargo exports extends designated jetty operations while existing boarding station and customs area limits remain unchanged...
Mandatory compliance document verification now conditions out-of-charge clearance for imported cosmetics, drugs, and medical devices through PGA-facil...
Double taxation of turnover requires holistic verification across separately registered units and permits limited rectification of overlapping assessm...
For computing the ceiling on partners' remuneration under section 40(b), book profit comprises the commercial profits shown in the partnership firm's profit and loss account, rather than only income assessed under the head of business or profession. Interest on FDRs and KVPs included in that account forms part of book profit even where treated as income from other sources. Excluding such interest from book profit is contrary to law, and the resulting disallowance of partners' remuneration is deleted.
For computing the ceiling on partners' remuneration under section 40(b), book profit comprises the commercial profits shown in the partnership firm's profit and loss account, rather than only income assessed under the head of business or profession. Interest on FDRs and KVPs included in that account forms part of book profit even where treated as income from other sources. Excluding such interest from book profit is contrary to law, and the resulting disallowance of partners' remuneration is deleted.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
