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Committees set up to fast track implementation of GST in India
News & FAQs | By ALOK PATNIA | Jun 26, 2015
Small steps are constantly taken by our government to fulfill the dream of GST in India. Last month, GST Constitutional Amendment Bill wa...
Race for filing Income Tax Return begins with simplified ITR Forms
News & FAQs | By ALOK PATNIA | Jun 24, 2015
New and simplified ITR Forms are finally available on the income tax site. The Income Tax department has notified the new set of ITR form...
Payments made for legal obligation shall not attract section 194C
Direct Taxes (including International Taxation) | By ALOK PATNIA | Jun 20, 2015
In a case it was held that provision of section 194C shall be applicable only when there is contractual obligation. Hence, payments made ...
No Late Fees u/s 234E to be levied before June 2015 during proceeding under section 200A
News & FAQs | By ALOK PATNIA | Jun 19, 2015
1st June, 2015 was marked as effective date of amendments. With the coming of such amendments, issues relating to its clarity have also b...
No appeal to be filed by Director for order against Company if no tax payable by Director
Direct Taxes (including International Taxation) | By ALOK PATNIA | Jun 19, 2015
The Tribunal in a case clarified that ‘assessee aggrieved’ shall be the person who is an aggrieved party liable to pay tax in...
E-Commerce portals under special review: File Quarterly Tax Return
Direct Taxes (including International Taxation) | By ALOK PATNIA | Jun 18, 2015
E-Commerce, though a familiar word that is read and heard in our daily life, it has always been in news. May be either for their profitab...
Income Tax Return can be filed for 6 Assessment Years to Claim TDS Refund
News & FAQs | By ALOK PATNIA | Jun 18, 2015
Missed out to claim refund for past years? We all are aware that for last 2 years, we have options to file Income Tax Return and claim ou...
Credit card payments through bank shall not be considered as unexplained expenses
Direct Taxes (including International Taxation) | By ALOK PATNIA | Jun 16, 2015
If all expenses via credit card paid through banks then such expenses shall not be treated as unexplained income of the assessee and thus...
To invoke deemed dividend, shares held by shareholder alone be basis to determine substantial int...
Corporate Law & Intellectual Property Rights | By ALOK PATNIA | Jun 12, 2015
Dividend” includes‑(e) any payment by a company, not being a company in which the public are substantially interested, of any sum by way ...
Claim refund even if there is delay in filing refund claim
Direct Taxes (including International Taxation) | By ALOK PATNIA | Jun 11, 2015
Every year CBDT receives numerous applications for condonation of delay in filing returns claiming refund and returns claiming carry forw...
No more demand to be raised to deductee for non- payment of TDS to the Government
Direct Taxes (including International Taxation) | By ALOK PATNIA | Jun 11, 2015
The concept of Tax Deducted at Source (TDS) seems simple but has many twists and turns in it. We presume that we are familiar to most of ...
Income after deducting expense incurred relating to such income shall be taxed
Direct Taxes (including International Taxation) | By ALOK PATNIA | Jun 10, 2015
The High Court in Totgars Co-Operative Sale Society Ltd. vs. Income Tax Officer ruled that interest from banks on the deposits to be taxe...
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