SC: Forfeiture of Earnest Money Impermissible When Both Buyer and Seller are at Fault || Supreme Court: Gravity of Offence Cannot Defeat Speedy Trial; Pre-Trial Detention is Punishment || SC: Terrorist Act under UAPA Includes Conspiracies to Disrupt Essential Supplies, Not Just Violence || Supreme Court Directs Measures to Prevent False and Frivolous Complaints Against Judicial Officers || SC: Mere Participation in Arbitration Doesn’t Bar Challenging Arbitrator; Waiver Must be in Writing || SC: Under Order 1 Rule 10 CPC, the Plaintiff, as Dominus Litis, Cannot be Forced to Add a Defendant || SC: Law Does Not Change With a New Bench; Decisions of a Coordinate Bench are Binding || Delhi HC Absence of Formal Arrest under Section 311A Crpc Does Not Bar Giving Handwriting Samples || Del HC: Security Guards Performing Duties Cannot Be Prosecuted For Wrongful Restraint or Molestation || Bombay HC: Housing Society Earning From Telecom Towers Isn’t An ‘Industry’; Staff Get No Gratuity

Comments invited on minimum alternate tax report- (Ministry of Finance ) (28 Apr 2016)

MANU/PIBU/0402/2016

Direct Taxation

The Central Board of Direct Taxes is receiving comments on the recommendations of the Committee on Minimum Alternate Tax for Indian Accounting Standards till 10 May 2016.

The Committee submitted its Report on 18 March 2016, taking into consideration Ministry of Corporate Affairs input on assessment of net profit. The Report discusses adjustments that must be made to net profit on account of unrealised gains. It also provides for reporting of adjustments in the opening Ind AS balance sheet, which may differ from Indian GAAP financial statements.

Tags : MINIMUM ALTERNATE TAX COMPANY IND AS

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