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August 1, 2022Read MoreITAT elucidates “make available” in Article 12 of
Indo-US DTAA -
July 18, 2022Read MoreTo avail the option of opting out of Section 10B a declaration must be filed on or before due date of filing of return – Supreme Court
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July 7, 2022Read MoreApplicability of Gift Taxation on allotment of shares – ITAT
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July 5, 2022Read MoreFAQs for Section 194R
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Read MoreExpenditure incurred in cash for Stock-in-trade not routed through P&L Account shall not be disallowed u/s 40A(3) of Income Tax Act, 1961
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July 1, 2022Read MoreSteps towards less cash economy
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June 30, 2022Read MoreINTERNATIONAL TAX: Interest to be taxable as business income under article 7 needs to be effectively connected to such Permanent Establishment (PE)
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Read MoreShare valuation report under rule 11UA cannot be negated if facts of the valuation are justifiable-ITAT
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June 29, 2022Read MoreAddition made pursuant to difference of income reported in ITR and Tax Audit cannot be removed if claim is not backed by appropriate evidence-ITAT
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June 24, 2022Read MoreEducation cess and surcharge eligible for claim of foreign tax credit- Income Tax Tribunal
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June 23, 2022Read MoreGuidelines for TDS to be deducted on the transfer of Virtual Digital Assets as per the provisions of Section 194S
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Read MoreCommission income earned by non-resident is not taxable in India
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June 22, 2022Read MoreRelevance of Beneficial Ownership in context of Article 13 of DTAA between India and Mauritius
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June 21, 2022Read MoreSection 154 cannot be invoked for disallowing cash payments exceeding prescribed limits
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June 20, 2022Read MoreThe Apex court ruling on service tax implications on secondment of employees is likely to have adverse implications under direct tax
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June 17, 2022Read MoreAmalgamation of group companies is not necessarily a tax evasion tool
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Read MoreGuidelines for implementation of provisions of Section 194R
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June 15, 2022Read MoreUpdated Guidelines for Mutual Agreement Procedure (MAP)
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June 7, 2022Read MoreINTERNATIONAL TAX: Absence of article dealing with FTS in DTAA will not make it taxable under other income article.
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May 11, 2022Read MoreSupreme Court (SC) gives it verdict on reassessment notices
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April 23, 2022Read MoreSection 194R- Deduction of tax on benefit or perquisite in respect of business or profession
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Read MoreIncome-tax (Ninth Amendment) Rules, 2022 (Insertion of Rule 12AB)
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April 16, 2022Read MoreCondonation of delay in filing of Form 10-IC
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April 5, 2022Read MoreAmendment in relation to allowance of employee’s contribution to PF/ESI is prospective and deduction allowed on payment basis
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April 2, 2022Read MoreKEY DIRECT TAX CHANES MADE BY LOK SABHA IN FINANCE BILL
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March 1, 2022Read MoreRemuneration from partnership not ‘Gross Receipt’ for purpose of audit under Section 44AB of Income Tax Act
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Read MoreWhen on consideration of material fact one view is exclusively taken by the Assessing Officer it would not be open to re-open the assessment based on the very same material with a view to take another view
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February 28, 2022Read MoreAssessing officer cannot assume the power of CIT and recommend revision of assessment order
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Read MoreLoss not disturbed in Scrutiny Assessment to be treated as accepted and quantification thereof could not be disturbed
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Read MoreIncome earned from hoarding advt. placed on foot over bridge & bus shelter eligible for deduction u/s 80-IA
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February 21, 2022Read MoreWhether the delayed payment of self-assessed tax can accuse the Assessee under section 276C(2)?
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February 11, 2022Read MoreISD Mechanism Is Mandatory For Distribution Of Common Credit
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January 31, 2022Read MoreLower withholding shall be made owing to the Most Favoured Nation “MFN” Clause
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January 28, 2022Read MoreFilling of Form 67 is a directory requirement and not a mandatory requirement to claim Foreign Tax Credit
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January 11, 2022Read MoreCBDT extends due dates for filing of ITR and Various Reports of audit for AY 2021-22.
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December 18, 2021Read MoreDelhi HC quashes initiation of reassessment notices
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December 10, 2021Read MoreInvestments made by a foreign revocable trust to be taxable in the hands of the beneficiaries
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December 7, 2021Read MoreTaxes not payable by the Assessee where tax is already deducted
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October 29, 2021Read MoreDate of receipt of order is irrelevant for the purpose of counting period of limitation under section 263
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October 27, 2021Read MoreDistribution of Software Licenses not constituted as Royalty
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October 13, 2021Read MoreExemption from filing Income Tax Return from AY 2021-22
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October 4, 2021Read MoreGenuineness of Admin Support services
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September 27, 2021Read MoreDeduction u/s 80G can be claimed irrespective of the fact that amount donated is attributable to CSR Expense
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September 20, 2021Read MoreTax free investment made from mixed funds shall not attract disallowance u/s 14A
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September 11, 2021Read MoreTreaty benefits in case of Re-domiciliation of company
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Read MoreClarification regarding carry forward of losses
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September 10, 2021Read MoreCBDT extends due dates for filing of ITR and Various Reports of audit for AY 2021-22
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Read MoreCBDT extends due dates for filing of ITR and Various Reports of audit for AY 2021-22.
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September 9, 2021Read MoreSC ruling on Interest liability under Section 234B wherein no TDS was deducted
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August 31, 2021Read MoreExtension of timelines for electronic filing of various forms
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August 17, 2021Read MorePresumption Of Retrospectivity cannot be implied by new clarifications in existing tax law.
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August 5, 2021Read MoreMAT credit shall be granted inclusive of Surcharge and Cess
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June 16, 2021Read MoreRate of withholding tax on dividends paid to non-residents
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May 28, 2021Read MoreIncome Tax Alert: Linking of PAN and Aadhaar
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May 25, 2021Read MoreComputation of Fair Market Value of Capital Assets for the purpose of section 50B of the Income-Tax Act
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May 20, 2021Read MoreRelaxation of time lines for various Income Tax Compliances
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May 4, 2021Read MoreChanges in TDS/TCS Provisions
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May 3, 2021Read MoreThreshold for the Purpose of Significant Economic Presence
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May 1, 2021Read MoreRelief for Taxpayer – Extension of due dates for Income Tax Compliances
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April 24, 2021Read MoreLower with holding Tax rate on dividends available pursuant to MFN clause in case of India – Netherlands DTAA
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Read MorePress Release for Extension of Timelines
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April 23, 2021Read MoreSection 56(2)(viib) is not triggered on the excess consideration/asset received by the amalgamated company in lieu of issue of shares issued
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April 14, 2021Read MoreSetting up of Business V/S Commencement of Business
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April 13, 2021Read MoreMAT credit of the transferee company can be carried forwarded and set-off against tax liability of amalgamated company
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April 7, 2021Read MoreChanges in CbCR Reporting Threshold Limit
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April 3, 2021Read MoreAmendments to Income Tax Rules, 1962
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April 2, 2021Read MoreRates of TDS/TCS w.e.f. 01.04.2021
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March 22, 2021Read MorePayment to driver Partners out of the scope of TDS U/S 194C
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March 18, 2021Read MoreForm 15E notified by CBDT for making Application for grant of Certificate to Determine sum Chargeable to Tax u/s 195
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March 5, 2021Read MorePayment for use of computer software does not constitute Royalty, thus not subject to withholding tax
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February 4, 2021Read MoreConditions to be satisfied for availing the lower rate or restricted scope of source taxation due to the virtue of Most favoured Nation (‘MFN”) Clause
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October 24, 2020Read MoreRelief for taxpayers – Extension of Due Dates for Filing of Income Tax Returns
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October 23, 2020Read MoreAO does not have power to change method for share valuation opted by assessee
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October 20, 2020Read MoreTolerance Limit for Computation of ALP
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October 9, 2020Read MoreAmended Provisions for Utilization of Foreign Contribution
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October 6, 2020Read MoreClarifications on TDS Provisions for e-Commerce Operators
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October 5, 2020Read MoreAmendment of ITR and Other Forms for AY 2020-21
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October 3, 2020Read MoreNo Scrip wise reporting for Short-Term Listed Shares
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Read MoreCash expenses in foreign currency are covered under 40A(3)
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Read MoreRequirement of Licenses for Toys may arise from March
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October 2, 2020Read MoreExtension of compliance deadlines till 31st March, 2021
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September 26, 2020Read MoreGuidelines for Compulsory Selection of Return for Complete Scrutiny
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Read MoreVodafone wins arbitration against India in International Court
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September 25, 2020Read MoreExpenditure on Software is of Revenue Nature
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Read MoreNo penalty if it was not mentioned in notice that assessee had concealed income or furnished inaccurate details
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September 11, 2020Read MoreReimbursement of cost from Indian group concern for providing business support not taxable as FTS in India
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September 10, 2020Read MoreTCS on Sales of Goods: Finance Act, 2020
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August 13, 2020Read MoreAO cannot change the method of Valuation of Shares opted by the Assessee
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Read MoreTransparent Taxation – Honouring the Honest
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July 29, 2020Read MoreAO is not justified to change the earlier method of accounting adopted by the assessee to determine the income tax on estimate basis: HC Karnataka
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Read MoreTransfer of Development Rights of a property would not attract the provisions of u/s 2(47)(v) of the Income Tax Act, if only part payment has been received.
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July 21, 2020Read MoreMemorandum of Understanding between CBDT and MoMSME
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July 20, 2020Read MoreNew Form 26AS is faceless hand-holding of taxpayers to e-file returns: CBDT
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July 18, 2020Read MoreInterest free advances are presumed to be from Interest free borrowing, subject to sufficiency, for disallowance u/s 14A: Bombay HC
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July 16, 2020Read MoreDigital content developed by an animation company is a copyrighted intangible asset and not a computer software. Therefore, eligible for depreciation at the rate of 25%
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Read MoreExpenditure incurred towards objectives ancillary to main objective of society shall be considered as exempt u/s 11 of the Income Tax Act, 1961
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Read MoreOne Time Relaxation for Verification of ITR which is Pending for Non-Filing of ITR-V
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July 10, 2020Read MoreWhen Merits are Fragile, Pre-Deposit of Recovery Amount is Must: Delhi High Court
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June 30, 2020Read MoreEmployees Allowed to Claim I-T Exemption on Conveyance Allowance Under New Tax Regime
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June 29, 2020Read MoreAdvance Tax Liability can be adjusted against Cash Seized by Income Tax Dept. from Assessee: HC
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June 27, 2020Read MoreUDYAM Registration for MSME
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June 25, 2020Read MoreCOVID-19 Relief – Ease for Taxpayers, CBDT Further Extends Compliance Due Dates
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June 16, 2020Read MoreWhen Merits are Fragile, Pre-Deposit of Recovery Amount is Must: Delhi High Court
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June 4, 2020Read MoreMonetary Policies || Government Growth Booster for MSMEs
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June 3, 2020Read MoreKey Changes related to Provident Fund
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June 2, 2020Read MoreKey Changes to the New ITR Forms 1 to 7 Notified by CBDT for AY 2020-21
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May 29, 2020Read MoreCBDT Notifies New Form 26AS with Widened Scope
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May 28, 2020Read MoreLiaison Offices of a Company do not constitute a Permanent Establishment in India
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May 27, 2020Read MoreGolf Course Developed on Land to be Considered “Plant & Machinery”, Hence Depreciation Allowed: Delhi ITAT
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May 25, 2020Read MoreConsideration to foreign attorneys for rendering services in field of IPRs are FTS u/s Section 9(1)(vii) of Income Tax Act: ITAT, Kolkata
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May 23, 2020Read MoreNo Refund to be Withheld unless Reasons Recorded: Supreme Court
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May 22, 2020Read MoreReforms in Monetary Policy amidst COVID-19, by Reserve Bank of India (RBI)
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May 20, 2020Read MoreSee-through approach u/s 9(1)(i) not available under Article 13(5) of India Belgium Treaty: Mumbai ITAT
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May 13, 2020Read MoreMismatch in Form 26AS – No addition to be made if explanation is offered for difference: ITAT Mumbai
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Read MoreCOVID-19 Relief on Tax Compliances
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April 23, 2020Read MoreOrder cannot be Passed without Considering Application for Producing Additional Evidence
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Read MoreIs Cost of the Construction to be Deemed as a Contract? : No 194C Held Bombay High Court
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April 16, 2020Read MoreCBDT Clarifies Employer Disconcertment on New Individual Tax Regime
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April 11, 2020Read MoreNo TDS on Payment Made to Indian Agent of Non-Resident Shipping Company, Section 172 to Prevail
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April 10, 2020Read MoreSection 68 Additions Cannot be made if Assessee has proved the Credit Worthiness of Creditors
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Read MoreAO to Grant Refund if there is No Reason Forthcoming from him for Delayed Processing of ITR
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Read MoreSales of Shares Supported by Evidence Cannot be held as Sham Transaction
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April 9, 2020Read MoreWhere Assessee had Paid Taxes in a Foreign Country and since the Tax Credit is not available, Taxes Paid in Foreign Country are allowed as Business Expenditure
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Read MoreNo Tax on Closely Held Companies, if Excess Share Premium Paid by Relatives-Shareholders
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April 8, 2020Read MoreSubsidy Received for Repayment of Term Loans Undertaken for Setting Up New Unit was Non-Taxable as Capital Receipt
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April 7, 2020Read MoreWhere Assessee had made payment to Foreign Celebrity, for an appearance made by him in Dubai at a product launch event for promoting business of Assessee in India, Assessee would be liable to withhold taxes from payment so made.
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April 6, 2020Read MoreTax Benefit for Individuals and Corporates: COVID-19 PM Cares Fund
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Read MoreCOVID-19 Relief to Senior Citizens related to Form 15G and 15H
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Read MoreWhere Assessee claimed deduction of interest on borrowed capital against rental income of house property, renting house to his own son and daughter, partially allowed u/s 24(b)
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Read MorePenalty to be Levied only when it is proved that Income was Concealed or Inaccurate Particular was Furnished
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Read MoreIncome Tax Refund cannot be withheld by Mere Issuance of Notice u/s 143(2)
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April 2, 2020Read MoreAdvance Forfeited in Ordinary Course of Business: Allowability under Income Tax
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March 26, 2020Read MoreWaiver of Loan for Acquiring Capital Assets is not taxable as Business Income under Income Tax Act – Supreme Court
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March 25, 2020Read MoreHC Directs Assessee to File ITR in Paper Form as he was unable to Claim Set Off of Losses while E-Filing
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March 24, 2020Read MoreRelief announced by Finance Ministry during the Press Conference held earlier today
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Read MoreClarification on Spending of CSR Funds for COVID-19
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Read MoreRelief in COVID-19 Pandemic to Corporate Sector
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March 23, 2020Read MoreSum Advanced to Subsidiary Company would be Capital Asset within Meaning of Section 2(14)
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March 21, 2020Read MoreNo Addition Towards Notional Rent if Property Remained Vacant due to Obstruction Caused by Ongoing Metro Project
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February 24, 2020Read MoreImport of Diamonds for Re – Export would be in Nature of Services for Claiming Section 10AA Deduction
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February 5, 2020Read MoreCLARIFICATION ON THE NEWLY ADDED SECTION 194K FOR TDS
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January 28, 2020Read MoreAmendment Of Rule 10da And Rule 10db Regarding Furnishing Of Information And Maintenance Of Documents By Constituent Entity Of An International Group
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January 23, 2020Read MoreMajor Relief for Insurance Sector – Circular No– IRDA/F&A/CIR/ACTS/023/01/2020
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Read MoreMajor Relief for Insurance Sector – Circular NoIRDA/F&A/CIR/ACTS/023/01/2020
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January 14, 2020Read MoreITAT allowed deduction of interest paid on borrowed money though no interest was earned on its further lending
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January 13, 2020Read MoreCBDT Notifies Prescribed Electronic Modes Of Payment For Section 269su
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January 8, 2020Read MoreBenefit Of TDS Is To Be Given For Assessment Year For Which Corresponding Income Is Assessable
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December 28, 2019Read MoreWhere assesse has declared its income at maximum rate and return of income was accepted without addition, penalty u/s 271(1)(c) cannot be levied: #ITATChandigarh
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December 27, 2019Read MoreExempt Income Not To Be Considered For The Purpose Of Computation Of Book Profit U/s 115jb: Itat Mumbai
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December 23, 2019Read MoreAuditor’s report to be relied for allowance depreciation on unidentifiable assets received during amalgamation: Allahabad High Court
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December 18, 2019Read MoreIncome Tax Update
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December 16, 2019Read MoreIs MAT applicable for AY 2020-21?
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December 7, 2019Read MoreWhether Provision for Loss and Provision for Gratuity to be Considered in MAT Calculation?
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November 27, 2019Read MoreKey highlights of “The Taxation Laws (Amendment) Bill, 2019″
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November 26, 2019Read MoreThe Amalgamated Co. can utilize the MAT credit of its Amalgamating Co.
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November 19, 2019Read MoreCompensation Received By Lessor On Account Of Termination Of Lease Due To Sale Of Property Is Capital Receipt
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November 18, 2019Read MoreNon-Taxability of Transfer of Shares in real estate business by a Non-Resident Indian if he doesn’t hold substantial interest in the company
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Read MoreBeholding principal of Natural Justice before declaring ITR as invalid: ITAT (Pune)
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Read MoreNotification: Insertion of Rule 11UAC in the Income Tax Rules, 1962
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November 14, 2019Read MoreDelivery of Notice by Assessing Officer at the Right Address
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November 13, 2019Read MoreWhether payment made by Indian company to a foreign company for supplying drawings is Royalty or not
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November 11, 2019Read MoreElephant Bonds- Proposed scheme to bring back Black Money
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Read MoreBequest received in foreign bank account cannot be treated as Income of Assessee for that AY, if its transfer request to India is pending
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October 21, 2019Read MoreForex Loss Arising on Loan Taken for Acquiring Assets
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October 3, 2019Read MoreCircular: Clarification in respect of Option Exercised under Section 115BAA of The Income Tax Act, 1961
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September 20, 2019Read MorePress Release – CBDT Notifies E-assessment Scheme, 2019
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Read MoreMajor relief in case of individual assessee/ expatriates where assessment re-opened without serving notice
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September 7, 2019Read MoreNon-deduction of Tax at source (TDS) on the provision made for royalty payments under tax treaties would not give rise to disallowance under Section 40
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September 6, 2019Read MoreRelief By CBDT On Compliances By Start-ups
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August 30, 2019Read MoreTop 5 changes in Income Tax laws that come into effect from September 1, 2019
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August 24, 2019Read MoreNo penal proceedings in case of wrongly reflected transitional credit: Patna High Court (HC)
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August 23, 2019Read MoreNew Income Tax Bill – Key Recommendations of Task Force Report
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August 17, 2019Read MoreMere non-disclosure of exempt income doesn’t construe income escaped from assessment
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August 12, 2019Read MorePayment made by Mahindra to dealers towards free car services on its behalf shall be liable to deduction of tax at source
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August 7, 2019Read MoreIssuance of jurisdictional notice and assessment order against a non-existing company is fundamentally void and not a mere procedural mistake
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Read MoreOrder u/s 197(1) is quasi-judicial in nature and should be based on prescribed procedure, objective criteria and relevant material
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May 26, 2019Read MoreExtension of Time Limit for Filing of Response on E-Portal: CBDT
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April 13, 2019Read MoreWhere High Court upheld Tribunal’s order allowing Assessee’s claim for expenditure incurred on allotment of shares under Employee Stock option Plan (ESOP), SLP filed by Revenue against order of High Court was to be granted.
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April 11, 2019Read MoreNo TP adjustments on share purchase at high premium as it doesn’t amount to revenue receipt
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April 4, 2019Read MoreHC upholds constitutional validity of Section 234E of the Income Tax Act, 1961 (“the Act”) imposing fee for delayed filing of TDS statements
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March 12, 2019Read MoreAdditions under Section 68 cannot be deleted merely relying on Assessee’s evidence – SC
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February 12, 2019Read MoreRoyalty payment to Italian Co. pursuant to agreement effective from 01-04-2008 would be taxable at 10%
