live law consumer Arbitration trust ombudsman

Whether section 8 of Arbitration Act 1996 prevails over SARFAESI Act 2002? No. SARFAESI Act being a special enactment would prevail over Arbitration Act. Says Hon'ble SC. Instant Case: Indiabulls Housing Finance Ltd vs M/s. Deccan Chronicle Holdings Limited The Facts and ratio laid down in M.D. Frozen Foods Exports Pvt. Ltd. & Ors. v. Hero Fincorp Ltd. by Hon’ble SC earlier squarely matches the instant case. Having regard to the aforesaid facts in M.D. Frozen Foods, the Court formulated following three questions which had arisen for consideration: “A. Whether the arbitration proceedings initiated by the respondent can be carried on along with the SARFAESI proceedings simultaneously? B. Whether resort can be had to Section 13 of the SARFAESI Act in respect of debts which have arisen out of a loan agreement/mortgage created prior to the application of the SARFAESI Act to the respondent? C. A linked question to question (ii), whether the lender can invoke the SARFAESI...

Organisation (SIRO) by the Department of Scientific and Industrial Research under the ... products introduced, awards & prizes received, copy of the Annual Report and Statement of ..

Approval from CBDT is not required if the Assessee-Trust has not Carried out Any Activity Outside India: In a recent ruling, the division bench of the Delhi ITAT held that approval from the Central Board of Direct Taxes is not required in case of a Trust whose objects includes carrying out of activities outside India when it is evident that the has not carried out any activity outside India at the time of applying for registration. The bench further clarified that in such cases, the assessee need not amend its objects so as to get registration under section 12AA of the Income Tax Act. Assessee, National Informatics Centre services Inc, has applied for registration under section 12A of the Act. Admittedly, the main object of the assessee included activities outside India. The DIT (Exemption) denied registration to the assessee on ground that assesses case is covered by section 11(1)(c) of the Act which tends to promote international welfare in which India is interested. The authority w...

Wikimedia Bangladesh is hosting two months long article contest at Bangla Wikipedia to celebrate International Mother Language Day Take part and win prizes! Learn more Open main menu Search Edit Watch this page Foreign Contribution (regulation) Act, 2010 Page issues The  Foreign Contribution (regulation) Act, 2010  is an act of the Parliament of India, by the 42nd Act of 2010. It is a  consolidating act whose scope is to regulate the acceptance and utilisation of foreign contribution or foreign hospitality by certain individuals or associations or companies and to prohibit acceptance and utilisation of foreign contribution or foreign hospitality for any activities detrimental to the national interest and for matters connected therewith or incidental thereto." [1] It is designed to correct shortfalls in the predecessor act of 1976. Assent Controversies See also References External links Last edited 5 months ago  by  Simplexity22 RELATED ART...

Section 12A(a) in The Income- Tax Act, 1995 (a) the person in receipt of the income has made an application for registration of the trust or institution in the prescribed form and in the prescribed manner to the  2  Chief Commissioner or Commissioner] before the 1st day of July, 1973 , or before the expiry of a period of one year from the date of the creation of the trust or the establishment of the institution, whichever is later:  3 Provided that where an application for registration of the trust or institution is made after the expiry of the period aforesaid, the provisions of sections 11 and 12 shall apply in relation to the income of such trust or institution,- (i)  from the date of the creation of the trust or the establishment of the institution if the Chief Commissioner or Commissioner is, for reasons to be recorded in writing, satisfied that the person in receipt of the income was prevented from making the application before the expiry of the period afores...

Under  section 80G  deduction is available to any  tax  payer (may be individual, company, firm or any other person) making donation to the company. 50% of the donation made is allowed to be deducted from the taxable  income  and consequently  tax is calculated

Under section 35AC, organizations having income from business or profession can get 100 per cent deduction. Contributions made to a project/scheme notified as an eligible project ... The Central Government approves certain NGOs and notifies them as eligible for project or schemes for the purposes of section 35AC. If an NGO succeeds in getting such an approval ... The Centre on Friday said the benefit of deduction under section 35AC of the Income Tax (I-T) Act will only be available till March 31, in respect to the payments made to association or institution approved by the National Committee for carrying-out any eligible project or scheme. "It may be noted that requests received after December 31, 2016, for the grant/modification/extension of approval beyond March 31, 2017 under section 35AC of the Income-Tax Act shall not be considered/entertained by the National Committee," the Finance Ministry said in a statement. Section 35AC of the I-T Act, 1961, provides for a deduc...

          SERVICES NGO NGO REGISTRATION Society & Trust Amendment Process Funding & Funding Agencies List of Funding Agencies FCRA 12A & 80G (5) (vi) 35 AC Registration - 100% Tax Exemption 35 I (II) & 35 I (III) Project Reports Balance Sheet Audit & Tax Queries Annual Project Report Get a website, Domain, Hosting Corporate Social Responsbility Company Registration under Sec 25 35 I (II) & 35 I (III) Sec: 35(1) (ii) & 35I(iii) donor will receive 175% weighted deduction on the donated amount to an approved scientific research association, which has as its object the undertaking of scientific research or to an approved university, college or other institution to be used for scientific research or social science or statistical research. This is for all assesses carrying on business or profession. Sec: 80GGA 2(a) 2(aa) also gives deduction for those institutions & associations approved u/s 35(1)(ii) ...

Documents required:-  1. Request letter to Donor  2. Willingness letter  3. 12A copy  4. 80G copy  5. FCRA copy  6. 35AC copy  7. 35 1 & 2 certificate copy  8. CBDT approval copy  9. Notification copy  10. Gazette copy  11. SIRO copy  12. If RC trust Baptisom certificate required  13. Bank details, copy of the check  14. Project file.