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This unique/one-of-a-kind book covers 360 frequently asked questions (FAQs) on the contentious subject of Taxation of Partnership Firms & Limited Liability Partnerships. It is the only publication in the country that exhaustively deals with the new provisions of Section 9B and Section 45(4) of the Income-tax Act, 1961 & General Law. This book will serve as a helpful reference and guide for Lawyers, Chartered Accountants, Tax Practitioners, Taxpayers, and the Officers of the Tax Department. The Present Publication is the 2022 Edition, edited by Dr K. Shivaram & authored by Adv. Shashi Ashok Bekal, with the following noteworthy features: (1) [360 Frequently Asked Questions] on taxation of Partnership Firms & Limited Liability Partnerships (2) [Exhaustive Coverage] The book is divided into 24 Chapters viz: (a) Admission of a Partner (b) Dissolution of a Partnership Firm (c) Reconstitution of a Partnership Firm, etc. (3) [Case Study] To provide clarity on Section 9B and Section 45(4), the following case studies are included in this book: (a) Application of Section 45(4) of the Income-tax Act (b) Application of Section 9B & Section 45(4) of the Income-tax Act (c) Computation of Capital Gain tax under Section 45(4) of the Income-tax Act; Attribution of Profits under Section 45(4) (4) [Implication of Other Laws] vis-à-vis Partnership Firms & Limited Liability Partnerships: (a) Stamp duty (b) Goods & Services Tax (GST) (c) Foreign Exchange Management Act (FEMA) (d) Labour Laws (5) Reviewed by the following Eminent Personalities (6) Hon’ble Justice Rajesh Bindal | Chief Justice – Allahabad High Court (7) “… It is an effort to make complex issues of taxation easier. This publication is in FAQ Format and aims at addressing not only the ambiguities arising from the amendments vide the Finance Act, 2021 vis-à-vis Partnership Firms, LLPs, etc. but will prove to be a tool for tax consultants, tax administrators, taxpayers and all others concerned with the subject…” (8) Hon’ble Justice R.K. Agarwal | Former Judge – Supreme Court of India & President | NCDRC (9) “… The book contains detailed information in FAQ format with respect to various provisions of the Partnership firm. I appreciate the pain taken by the Authors to do a lot of hard work and research before writing such a useful Handbook…” The contents of the book are as follows: (1) General (2) Operational Issues (3) Issues on Residency (4) Compliances (5) Registration and Inception of a Partnership Firm/Limited Liability Partnership (6) Section 9B of the Income-tax Act, 1961 (7) Section 45(4) of the Income-tax Act, 1961 (8) The interplay between section 9B & section 45(4) of the Income-tax Act, 1961 (9) Admission of a Partner (10) Retirement of a Partner (11) Expulsion, Death and Insolvency of a Partner (12) Reconstitution of a Partnership Firm (13) Dissolution of a Partnership Firm (14) Conversion of a Partnership Firm (15) Set-off and Carry Forward of Losses (16) Gift Implications (17) Liability and Prosecution (18) Stamp Duty Implications (19) Goods & Services Tax (GST) Implications (20) Labour Law Implications (21) Association of Persons and Body of Individuals (22) Miscellaneous (23) Specimens (24) Case Studies 9789393656292 The objective of this book is to impart the basic knowledge of the following: (1) Auditing (2) Corporate Governance (3) Corporate Social Responsibility (4) Issues in corporate governance, ethics, and auditing This book covers the entire syllabus for undergraduate students of B.Com. (Hons.), B.Com. (Programme), BBA, BMS of Delhi University and other Universities. This book is a recommended textbook by the University Grants Commission (UGC) for undergraduate students of B.Com. (Hons.) and allied courses under the Choice Based Credit System (CBCS) Programme. This book incorporates all the latest amendments and Rules concerning company audit and corporate governance provisions laid down by SEBI (LODR) Regulations/Clause 49 of the Listing Agreement & the Companies Act, 2013. The Present Publication is the 5th Edition, authored by Anil Kumar, Lovleen Gupta, and Jyotsna Rajan Arora, with the following noteworthy features: (1) [Simple, Systematic and Comprehensive Explanation] of the concept and theories underlying Auditing & Corporate Governance (2) [Organised Analysis] of the theories and issues underlying corporate governance and business ethics (3) [Most Updated & Amended] This book incorporates all the latest amendments and rules concerning company audit and corporate governance provisions. (4) [Student-Oriented Book] This book has been developed, keeping in mind the following factors: (a) Interaction of the authors/teachers with their students in the classroom (b) Shaped by the authors/teachers experience of several years (c) Reaction and responses of students have also been incorporated at different places in the book (5) This book also incorporates the previous year's question papers: (a) B.Com. (Hons.) CBCS (2018) Semester VI (b) B.Com. (Hons.) CBCS (2018) (c) B.Com. (Hons.) CBCS (2019) Semester VI (d) B.Com. (Hons.) CBCS (2020) OPEN BOOK EXAM The structure of the book is as follows: (1) [Conceptual Aspects, Principles & Techniques] The first three chapters contain the conceptual aspect of auditing-objects, principles, techniques, including the role of auditing in Corporate Governance (2) [Theoretical Aspects] Chapter four lays down the theoretical aspects of corporate governance, including the models of corporate governance prevalent in most countries of the world (3) [Board Committee] is the important mechanism of corporate governance which is discussed in chapter fifth (4) [Corporate Governance in India] Chapter sixth is devoted exclusively to corporate governance in India, in the direction of better governance of companies. This includes discussion on the initiatives of the SEBI, Government of India and CII (5) [Issues of Corporate Governance] The issues of insider trading, whistleblowing, class-action, shareholders' activism and credit rating are discussed in the next chapter (6) [Major Corporate Governance Failures] Chapter eight of the book presents significant scams that took place in different parts of the world, including Enron, WorldCom, Vivendi, BCCI, Andersen worldwide, Maxwell Communications, Satyam and the downfall of Kingfisher Airlines (7) [Codes on Corporate Governance] Chapter nine contains the standards and codes of corporate governance as developed in the UK, USA and also the international codes like OECD Principles on corporate governance (8) [Business Ethics] The basic concept of ethics is laid down in chapter ten which also contains discussions on the corporate code of ethics. This chapter extends the concept of ethics to include principles and theories of business ethics (9) [Corporate Social Responsibility] The book's last chapter is most contemporary. It addresses the buzzword 'Corporate Social Responsibility'. This chapter discusses various views on CSR and also highlights the internal processes besides external standards relating to CSR