Income Tax
Widening of taxpayer base is possible in India?
Widening of taxpayer base is possible in India? Often we find during budget speech and other data analysis that only…
Depreciable assets is eligible for capital gain exemption
Depreciable assets is eligible for capital gain exemption Availability of exemption from Capital Gain: Whether income on transfer of depreciable…
Tax implications distribution of capital assets on the dissolution “or otherwise” of a firm, body of individuals or other association of persons
Tax implications distribution of capital assets on the dissolution “or otherwise” of a firm, body of individuals or other association…
Measures for resolution of distressed companies
Measures for resolution of distressed companies The existing provisions of section 79 are not applicable to a company where any…
Addition made under section 68 based upon surmise and conjecture had to be deleted
Addition made under section 68 based upon surmise and conjecture had to be deleted Income Tax Act, 1961, Section 68 Income…
Perquisite doesn’t include notional interest on loan taken by assessee from a company in which he was a director
Perquisite doesn’t include notional interest on loan taken by assessee from a company in which he was a director Income…
Two Incentives for start-ups proposed in Union Budget – 2019
Two Incentives for start-ups proposed in Union Budget – 2019 (1) Section 79 of the Income Tax Act provides conditions…
Landmark Judgment by Hon’Ble Gujarat High Court which concluded that 3B is not a return, hence there is no due date for availment of missed out credits.
Landmark Judgment by Hon’Ble Gujarat High Court which concluded that 3B is not a return, hence there is no due…
Slum Sale: A Dynamic Provision
Slum Sale: A Dynamic Provision Provisions relating to slum sale are given in section 50B of the Income Tax Act,…
Penalty imposed under section 271FA for not filing of NIL AIR (SFT) & Landmark Judgment by Visakhapatnam ITAT
Penalty imposed under section 271FA for not filing of NIL AIR (SFT) & Landmark Judgment by Visakhapatnam ITAT Income Tax…
Conflicting issue: Presumptive scheme of taxation and deduction u/s 80EEB towards purchase of electric vehicle
Conflicting issue: Presumptive scheme of taxation and deduction u/s 80EEB towards purchase of electric vehicle Can Individual taxpayer covered by…
Disallowance under section 14A towards Expenditure against exempt income if no exempt dividend income earned by assessee
Disallowance under section 14A towards Expenditure against exempt income if no exempt dividend income earned by assessee Income Tax Act,…
Incentive to National Pension System (NPS) subscribers
Incentive to National Pension System (NPS) subscribers Under the existing provisions of section 10 of the Act, any payment from…
Exemption of interest income of a non-resident arising from borrowings by way of issue of Rupee Denominated Bonds referred to under section 194LC
Exemption of interest income of a non-resident arising from borrowings by way of issue of Rupee Denominated Bonds referred to…
Relaxation in conditions of special taxation regime for offshore funds
Relaxation in conditions of special taxation regime for offshore funds Section 9A of the Act provides for a safe harbour…
Non-Banking Finance Companies (NBFCs) are getting at par with bank – Section 43B & 43D to be amended
Non-Banking Finance Companies (NBFCs) are getting at par with bank – Section 43B & 43D to be amended The existing…
Plethora of Incentives to International Financial Services Centre (IFSC):
Plethora of Incentives to International Financial Services Centre (IFSC): In order to promote the development of world class financial infrastructure…
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