Daily Archives: August 27, 2015

PUBLIC HOLIDAY FOR BANKS ON SECOND AND FOURTH SATURDAY OF MONTH

By | August 27, 2015

SECTION 25 OF THE NEGOTIABLE INSTRUMENTS ACT, 1881 – WHEN DAY OF MATURITY IS A HOLIDAY – DECLARATION OF SECOND AND FOURTH SATURDAY OF EVERY MONTH AS PUBLIC HOLIDAY FOR BANKS IN INDIA NOTIFICATION NO. SO 2285 [F.NO.4/1/7/2015-IR], DATED 20-8-2015 In exercise of the powers conferred by section 25 of the Negotiable Instruments Act, 1881… Read More »

Income from renting of warehouse is business income

By | August 27, 2015

Q  Whether income from renting of warehouse and godowns was chargeable under head Income from business ? A perusal of the profit and loss account of the assessee-company and the objects clause of the memorandum of association of the company clearly show that the assessee-company was incorporated with an object of carrying on the business of… Read More »