Taxation of unexplained income or investment
Taxation of unexplained income or investment: 1. Sec .68 of Income Tax Act– Cash Credits Where any sum is found credited in the books of an assessee maintained for any … Read More
Category: Income Tax
20% Pre deposit is not a precondition for granting a stay on Income Tax Demand – HC (Delhi)
20% Pre deposit is not a precondition for granting a stay on Income Tax demand: National Association Of Software And Services Companies (NASSCOM) (TS-195-HC-2024(DEL)) Observations of the Hon Delhi HC … Read More
TDS exemption is available U/S 194C in case of a declaration, even when the transporter is not the owner: ITAT Jodhpur
TDS exemption is available U/S 194C in case of a declaration, even when the transporter is not the owner: ITAT Jodhpur Adhunik Khanan VA Parivahan Theka Sahakari Samiti Limited Vs. … Read More
Subscription to database is not royalty or professional fees and so not taxable: Delhi HC
Subscription to database is not royalty or professional fees and so not taxable: Delhi HC THE COMMISSIONER OF INCOME TAX – INTERNATIONAL TAXATION -3 Vs RELX INC Facts: 1. The … Read More
Interest on loan taken to invest in a subsidiary is allowable as a deduction: Bombay HC
Interest on loan taken to invest in a subsidiary is allowable as a deduction: Bombay HC PCIT Vs Videocon Industries Ltd. & Anr (Bombay High Court) (Income Tax Appeal No.434 … Read More
Individual Residential Status as per Income Tax Act
Individual Residential Status as per Income Tax Act. Taxation of individuals in India is primarily based on their residential status in the relevant tax year. An individual is said to … Read More
Whether agri operations on leased land be eligible for exemption under Income Tax Act?
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 by Charitable Organisation for Foreign Donation
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
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
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