360 Tax Solutions- Tax Attorney

Post Monetary Policy Press Conference by Shri Shaktikanta Das, RBI Governor- April 05, 2024 Post Monetary Policy Press Conference by Shri Shaktikanta Das, RBI Governor- April 05, 2024 at 12 noon

RBI MONETARY POLICY

“THE ELEPHANT HAS LEFT THE Room”
Governor RBI

Post Monetary Policy Press Conference by Shri Shaktikanta Das, RBI Governor- April 05, 2024 Post Monetary Policy Press Conference by Shri Shaktikanta Das, RBI Governor- April 05, 2024 at 12 noon

Reminder INCOME TAX FILING FY 2023 24

https://m.economictimes.com/wealth/tax/woman-gets-6-month-jail-for-not-filing-itr-who-has-to-mandatorily-file-income-tax-return-consequences-of-not-filing/amp_articleshow/108425781.cms

Woman gets 6-month jail for not filing ITR; who has to mandatorily file income tax return, consequences of not filing Who has to file ITR: The decision was made following a complaint from the Income Tax Office (ITO), alleging that Rs. 2 lakh was deducted as TDS (tax deducted at source) from a receipt of Rs. 2 crore received by the accused in the fiscal year 2013-14. Despite this, the accused failed to file an incom...

The partnership between the three countries could herald a new multipolar world order, intended to replace the current unipolar American-led order.

CENTCOM chief says ‘very concerned’ about Iran-China-Russia alliance The head of the United States Central Command (CENTCOM) voices concerns about the growing alliance between Iran, China and Russia.

Justice Shriram and Justice Dr Neela Gokhale
Tax Bench

Share Premium Received By Issuance Of Shares Is On Capital Account And Gives Rise To No Income: Bombay High Court The Bombay High Court has held that the share premium received by the issuance of shares is on the capital account and gives rise to no income.The bench of Justice K. R. Shriram and Justice Dr....

Land mark judgement by APEX COURT
Hon’ble CJI and Judges on the Bench have held Electoral Bonds to be Unconstitutional and violation of Article 19.

Next Sec 80 GG of Income Tax Act should also me reformed as it is a window for huge tax evasion and a big loss of Revenue for the State Exchequer.

RBI maintains status quo on policy rates, prioritize inflation control with upward growth revision.

The RBI’s Monetary Policy Committee (MPC) for the 6th consecutive time kept the policy rates unchanged, by keeping repo rate steady at 6.5%, SDF at 6.25% and MSF and bank rate at 6.75%. The RBI also left its stance of “withdrawal of accommodation” unchanged with the vote of 5-1. The central bank highlighted that interest rate transmissions are still not complete, and inflation is yet to be brought down to targeted level on a durable basis. Hence, the RBI’s stance should be viewed in this context, and “mix of instruments” will be used by the Central Bank to manage the liquidity situation. The MPC last raised the repo rate by 25 bps to 6.50% in its Feb 2023 meeting.

https://www.indiatoday.in/amp/cities/mumbai/story/mumbai-andheri-encounter-specialist-pradeep-sharma-income-tax-raid-2499400-2024-02-08

Tax raids at encounter specialist Pradeep Sharma's house in Mumbai Encounter Specialist Pradeep Sharma's residence in Andheri was searched as he had connections with a former politician and a bureaucrat, who are also under investigation for tax evasion.

https://www.facebook.com/share/NXtXnMS6z2buuwHx/?mibextid=WC7FNe

HSBC Bank Carrying On Bona Fide Banking Business In Mauritius Exempt From Tax In India: Bombay High Court The Bombay High Court has held that HSBC Bank carrying on bona fide banking business in Mauritius is exempt from tax in India.The bench of Justice K. R. Shriram and Justice Neela Gokhale has...

https://www.livelaw.in/amp/high-court/bombay-high-court/hsbc-bank-bona-fide-banking-business-mauritius-exempt-tax-india-bombay-high-court-248835

HSBC Bank Carrying On Bona Fide Banking Business In Mauritius Exempt From Tax In India: Bombay High Court The Bombay High Court has held that HSBC Bank carrying on bona fide banking business in Mauritius is exempt from tax in India.The bench of Justice K. R. Shriram and Justice Neela Gokhale has...

یہ داغ داغ اجالا یہ شب گزیدہ سحر

وہ انتظار تھا جس کا یہ وہ سحر تو نہیں
Subh e Azadi - Faiz Ahmed Faiz

Elections around the corner
Does your Insurance Cover Riots

Riots & Insurance: Does Car Insurance Cover Riot Damages? All about riot damages and car insurance cover. Check ✓ Riots & Insurance ✓ Points to Note ✓ Documents Required ✓ Protection ✓ Riot Cover.

Tax ki Baat...

Mumbai broker arrested for 'dabba trading' worth ₹ 4,672 crore in 3 months Mumbai Police arrested a share broker for allegedly conducting illegal 'dabba trading' worth ₹4,672 crore over three months, evading over ₹1.95 crore in taxes and fees.

https://www.livemint.com/news/mumbai-broker-arrested-for-dabba-trading-worth-4-672-crore-in-3-months-evades-over-1-95-crore-in-taxes-11687405063468.html

Mumbai broker arrested for 'dabba trading' worth ₹ 4,672 crore in 3 months Mumbai Police arrested a share broker for allegedly conducting illegal 'dabba trading' worth ₹4,672 crore over three months, evading over ₹1.95 crore in taxes and fees.

Types of Wills in India

Will is a type of legal document used to transfer the property of a person after death as per his/her wishes. The importance of Will cannot be stressed enough as lakhs of civil cases are pending before various Courts for resolving inheritance disputes. Further, all Wills are revocable at any time during the life of the person and is a confidential document. Hence, it is important for everyone to know about the benefits of having a Will and create a Will.

1.) Unprivileged Will
Will created by a person who is not a soldier employed in an expedition or engaged in actual warfare or a mariner at sea is known as an unprivileged Will. For an unprivileged Will to be valid, it must satisfy the following conditions:

The person creating the Will must sign or affix his/her mark to the Will. Else, some other person should sign as per the directions of the testator (Person creating the Will) in his/her presence.
The signature or mark of the testator or the signature of the person signing for the testator must be placed so that it appears that it was intended to give effect to the writing as Will.
The two or more witnesses should attest to the will. The witnesses must have seen the testator sign or affix his mark to the Will or has seen some other people sign the Will, in the presence and by the direction of the testator.

2.) Privileged Will
Privileged Wills are Wills that may be in writing or made by word of mouth by those in active services like a soldier, airman or mariner. The legal requirement for the validity of a privileged Will has been reduced to enable certain persons to quickly make a Will. The following conditions are applicable for a privileged Will:

The testator writes the whole will with his own hand. In such a case, it need not be signed or attested.
The testator should sign the privileged Will written wholly or in part by another person. In such a case, there is no requirement for attestation.
A Will written wholly or partly by another person and not signed by the testator is a valid Will if it is proved that it was written by the testator’s directions or that the testator recognized it as his/her Will.
A half-completed privileged Will is also considered valid if it is proved that non-execution was due to some other reason and does not appear to be an abandonment of intentions to create a Will.
A privileged Will can be made by word of mouth by declaring intentions.
If a soldier or airman or mariner has given written or verbal instruction for the preparation of a Will but has died before it could be prepared and executed. And such will is a valid Will.
Conditional or Contingent Wills
A Will can be expressed to take effect only in the event of satisfying certain conditions or can be contingent upon other factors. Such a Will, which is valid only in the event of the happening of some contingency or condition, and if the contingency does not happen or the condition fails, is called a conditional or contingent Will.

3.) Joint Wills
Joint Will is a type of Will wherein two or more persons agree to make a conjoint Will. If a Joint Will intends to take effect after the death of both persons, then it would not be enforceable during the life-time of either. The person at any time during the joint lives or after the death of one can revoke the joint will.

4.) Concurrent Wills
Concurrent Wills are written by one person wherein two or more Wills provide instructions for disposal of property for the sake of convenience. For instance, one Will could deal with the disposal of all immovable property whereas another Will deals with the disposal of all movable property.

5.) Mutual Wills
In a Mutual Will, the testators confer upon each other reciprocal benefits. A husband and wife will execute a mutual will to pass on all benefits to the other person during their lifetime.

6.) Duplicate Wills
The testator will create a duplicate will for the sake of safety or safekeeping with a bank or executor or trustee. However, if the testator destroys the Will in his/her custody, then the other Will is also considered revoked.

7.) Sham Wills
Sham Wills are executed but held invalid if the testator does not intend to execute as per his/her wishes. As per the Indian Succession Act, a Will made by fraud or coercion or by taking away the free agency of the testator is considered invalid.

8.) Holograph Wills
The testator writes this holograph wills entirely in its own handwriting.

To create a Will in India, get in touch with Adv. MW SAYED
072080 00771

https://www.mid-day.com/mumbai/mumbai-news/article/mumbai-dealer-smuggled-drugs-inside-snack-packets-says-anti-extortion-cell-23288305

Mumbai: Dealer smuggled drugs inside snack packets, says Anti-Extortion Cell Ali Asgar Shirazi, aide of drug lord Kailash Rajput arrested at airport; used Haldiram packets as cover to sneak drugs into European nations

Income Tax Filing For FY 2022 23 HAS STARTED
CALL Adv MW SAYED (Bombay High Court)

7208000771

FOR PROFESSIONAL EXPERTISE & ASSISTANCE .

‘Modi Has No Problem With Corruption, Is Ignorant on Kashmir, Silenced Me On Pulwama Laparvahi' Support The Interview with Karan Thapar - http...

Protect your Brand
Your Trademark Attorney
Contact 7208000771