Month: May 2018

COMPANIES AMENDMENT ACT, 2017

29 May 2018

COMPANIES AMENDMENT ACT, 2017 Section and Name Existing Provision Revised Provision Amendment Section 2(6) Associate company Explanation to Section 2(6)- Explanation— For the purposes of this clause, "significant influence" means control of at least twenty per cent of total share capital, or of business decisions under an agreement. Revised Explanation to Section 2(6)- Explanation.—For the purpose of this clause— (a) the expression "significant influence" means control of at least twenty per cen...

By CA A. K. Jain & Sashi Kanta Panda

19 May 2018

SETTLEMENT COMMISSION By CA A. K. Jain & Sashi Kanta Panda Introduction: Income Tax Settlement Commission is a premier Alternative Dispute Resolution (ADR) body in India. Its mandate is to resolve tax disputes in respect of Indian Income Tax & Wealth Tax Laws between the two disputing parties, Income Tax Department on one side and litigating tax payer on the other. This institution was set up in 1976 by the Central Government on the recommendations of the Direct Taxes Enquiry Committee (1971) se...