Saturday, 29 September 2012

Form „ST-3‟ required to be submitted by the 25th day of October, 2012 shall cover the period between 1st April to 30th June, 2012 only

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Section 56(2)(ix): Forfeiture of Advance Money Received – A Critical Analysis

The Dual Conditions for Taxability Section 56(2)(ix) of the Income Tax Act imposes tax liability on sums received as advance or otherwise du...