Deferred Capital Gains – Registered Development Agreement u/s 45(5A)

Applicable From 01-04-2018 (i.e., Assessment Year 2018-19 relevant previous year 01.04.2017 to 31.03.2018) Eligible Assessee Capital Gains arises to an assessee, being Individual or HUF Eligible Transaction Capital asset, being Land or Building or both, under a specified agreement Specified Agreement means a registered agreement in which a person owning land or building or both,…

Legal Entity Identifier

A Legal Entity Identifier (or LEI), is a 20-character alpha-numeric string that is used to identify distinct legal entities that engage in financial transactions. The LEI is a global standard (ISO 17442), designed to be non-proprietary data that is freely accessible to all. Simply put, the publicly available LEI data pool can be regarded as…

Supply under the UAE VAT Law

In the VAT Law, the Taxable Event is the supply of goods or services within the tax jurisdiction and hence the importance of A.    What constitutes a supply of goods or services, B.    When (Time) of supply of goods or services, C.    Where (Place) of supply of goods or services, D.    Amount (Value) of supply…

Group Registration under UAE VAT Law

Article 14 of UAE VAT Law provides for Registration under VAT of a group of Legal Entities under a single VAT Registration in the UAE. 1. Two or more persons conducting Businesses may apply for Tax Registration as a Tax Group if all of the following conditions are met: a. Each shall have a Place…