CA Nirmal Ghorawat's Blog

Author: Nirmal Ghorawat

  • HIGHLIGHTS OF THE GUJARAT MONEY-LENDERS ACT, 2011

    1. The Act shall be applicable on the date on which the State Government will notify (2 May 2011 vide Notification No. GHKH-19-2011-GML-10-2011-153-CHH). 2. Money lending is the business of…

  • CHARGE OF INTEREST UNDER INCOME TAX ACT, 1961

    1.       General Principle The Supreme Court in the matter of Sandvik Asia Ltd. v. CIT, Pune [2006] 150 Taxman 591 (SC) “In our view, the Act recognizes the principle that…

  • THE MYTH OF HIGHEST NAV GUARANTEED FUNDS

    A number of Highest NAV Guaranteed Funds have emerged in the last Financial Year and now most of the Life Insurance Companies offer ULIP products with option to choose Highest…

  • DEDUCTION UNDER SECTION 80IE – AN OPPORTUNITY

    RELEVANT PROVISIONS Sl. No. Criteria Conditions 1. NATURE OF BUSINESS (a) Manufacture or produce an eligible articles or thing; or (b) Undertakes Substantial Expansion to manufacture or produce eligible articles…

  • INTRODUCTION TO LIMITED LIABILITY PARTNERSHIP IN INDIA

    Download this Post in PDF Format DOWNLOAD DRAFT LLP AGREEMENT (PDF FILE) The framework of laws & rules dealing with the Limited Liability Partnership (LLP) are contained in the Limited…

  • IFRS 8 OPERATING SEGMENTS

    IFRS 8 Operating Segments [Download this PPT as PDF File] THE CORE PRINCIPLE An entity shall DISCLOSE information to enable users of its financial statements  to EVALUATE The nature and…

  • PROVISIONS OF PENALTY U/S 271(1)(c)

    A.    PENALTY U/S 271(1)(c) – CARDINAL PRINCIPLES The following Cardinal Principles have been laid out by the Supreme Court Court in Dilip N. Shroff v. CIT (2007)161 Taxmann 218 and T. Ashok…