Registration and Assembly

• The Concept of Income Tax Study Group
• Inputs by Members / Participants

Critical Issues arising out of Finance Bill 2018

• In terms of Income Computation and Disclosure Standards now mandated by Finance Bill 2018, accounting and tax treatment of
  • Mark to market loss in respect of open position in futures and Options derivatives in securities, Currency and Commodities
  • Premium earned and/or paid on options written with expiry after the year closure
• Taxation relating to strike off companies
  • Taxation of strike off company itself on income generating assets and in respect of years for which return is not filed – especially in respect of companies whose cases are pending with NCLT/NCLAT for revival or maybe there is a likelihood of such revival on an application by tax department
  • Benami law and Taxation implications in the hands of companies or other entities in which such strike of company may be a:
    • Shareholder or a partner or having substantial interest in any manner, or
    • To whom the strike of company had lent or advanced money or strike off company is otherwise a creditor
    • From whom the strike off company had received some investment or loan or the strike off company is a debtor
• Road Map for Future meetings