Latest Tax Updates, News, Articles & Notifications
Whether agri operations on leased land be eligible for exemption under Income Tax Act? Introduction: 1. Agriculture income earned by individuals and HUF is exempt under the Sec 10(1) of … Read More
FCRA Registration for NGOs The Ministry of Home Affairs grants the FCRA registration as authorization to regulate foreign donations received by Indian nonprofit organisations. You must register with the Foreign … Read More
Alternate Minimum Tax (AMT) on LLP Introduction to Alternate Minimum Taxation (AMT) Initially, the concept of MAT, i.e. Minimum Alternative Tax, was introduced only for the companies. However, gradually it … Read More
ITAT upholds cap-gain exemption to Mauritius entity, for shares acquired prior to April 1, 2017 Comstar Mauritius Ltd (ITA No. 1529/Mum/2023) Facts: 1. Assessee filed an appeal for the assessment … Read More
Receipt from sale of software as an end user is not taxable as Royalty: ITAT ACIT,Circle-2(2),International Taxation, New Delhi Vs. Newspage Pvt Ltd (ITA 1992 / DEL / 2022) Facts: … Read More
ITAT case on salary earned by the non resident outside India Devi Dayal vs DCIT, 2024, Delhi ITAT (ITA Nos. 835 & 836/Del/2023) Facts: 1. The Appellant was deputed to … Read More
Changes in ITR 6 applicable to companies – Notification No 16/2016 dated 24.01.2024 CBDT has notified Income-tax Return Form 6 for the Assessment Year 2024-25, vide Notification No. 16/2024, dated … Read More
Tax Implications on Loan Waivers after amendment to Section 28(iv) Under resolution plan approved by NCLT, would generally involve waiver of loans and other liabilities of corporate debtor, which is subject to … Read More
Tax Implication on Capital Reduction under IBC Capital reduction refers to the technique of reducing a company’s share capital in any form. It is a mechanism usually adopted by companies … Read More
No Income Tax in India for salary earned by a Korean Resident outside India: ITAT Delhi Amit Laroya Vs ACIT (ITA No.1457/Del/2022) Facts: 1. Amit Laroya, the appellant, challenged the … Read More
