The Court observed that: there was no contemporaneous evidence that the Trust conducted, or was legally able to conduct, a practice entailing the provision of legal advice; there were no trustee resolutions or board papers or other documents to support a conclusion that the Trust provided legal a...
“The Supreme Court’s only armour is the cloak of public trust; its sole ammunition, the collective hopes of our society.”– Irving R. Kaufman Background The Supreme Court has ruled that service tax will not be levied on corporate guarantees by a parent company to its subsidiaries where ...
Amendment of Section 10 related to Exempt income of Non-Residents Inclusion of retail schemes and Exchange Traded Funds (ETFs) in the existing relocation regime of funds of IFSCA Extension of date of making investment by Sovereign Wealth Funds, Pension Funds & others and rationalisation of tax ...
There are methods to change the state law governing the trust to restrict the beneficiary from taking the assets, protect the trust assets from the beneficiary's creditors, and still spring the Trap. Additionally, in states that have adopted the Uniform Statutory Rule Against P...
Threshold Exemption: Small businesses with a turnover below a specified threshold (currently, it is 20 lakhs: supplier of both goods & services and 40 lakhs: for supplier of goods (Intra–State) in India) are exempt from GST. Present Challenges in GST Rates Complexity and Confusion: The exis...