Latest Tax Updates, News, Articles & Notifications
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 PCIT Vs Videocon Industries Ltd. & Anr (Bombay High Court) (Income Tax Appeal No.434 … Read More
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
New Eligibility Criteria for listing on SME Platform of BSE. BSE has revised its eligibility criteria for SME IPO listing on its platform from Jan 2024, bellow are some of … Read More
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
Key Managerial Personnel: Section 203 of the Companies Act, 2013 Statutory Framework The expression key managerial person is defined in section 2(51) of the Act. Section 203 of the Act, … 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
