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With uncertain tax regime (MAT), FIIs starts flying outside India
News & FAQs | By ALOK PATNIA | Apr 28, 2015
A recent tax notices demanding tax at 20 per cent on interest income from Foreign Institutional investors (FIIs), as opposed to 5 per cen...
Regular trading transactions between shareholder and the company shall not attract sec. 2(22) (e)
Direct Taxes (including International Taxation) | By ALOK PATNIA | Apr 28, 2015
Where there were regular trading transactions between shareholder and company and the payments received against sales made during course ...
CBDT mandates disclosure of all Bank Accounts in Income Tax Return forms but puts the forms on hold
News & FAQs | By ALOK PATNIA | Apr 20, 2015
CBDT has come with a New Notification regarding disclosure of all Bank Account details .It has a vide Notifications No.41/2015 on 15/04/2...
Application of PAN in Form INC-7 for companies intending to incorporate
News & FAQs | By ALOK PATNIA | Apr 14, 2015
Central Board of Direct Taxes in the Official Gazette issued a notification regarding application of PAN in Form INC-7 for companies inte...
Higher TDS rate of 20% shall not be attracted for non furnishing of PAN by NR where DTAA being mo...
Direct Taxes (including International Taxation) | By ALOK PATNIA | Apr 13, 2015
Case: Deputy Director of Income-tax vs. Serum Institute of India Ltd. Where NR does not furnish PAN, TDS on payment shall be deducted as ...
CARO 2015 Audit Report
News & FAQs | By ALOK PATNIA | Apr 11, 2015
The MCA has issued Companies (Auditor’s Report) Order, 2015 vide order dated 10.04.2015. It shall come into force on the date of its publ...
Rollover of Fixed Maturity Plans (FMPs) in same scheme shall not attract Capital Gain
News & FAQs | By ALOK PATNIA | Apr 10, 2015
As per the Income Tax Act, assets in the nature of shares, listed securities, units of mutual funds and zero coupon bonds qualified as lo...
Private Companies to raise funds through Private Placement
Corporate Law & Intellectual Property Rights | By ALOK PATNIA | Apr 10, 2015
Funds, life cell of a business, are required all the time during its lifetime. Initial capital comes from subscribers to the memorandum. ...
TDS u/s 194C shall be deducted on payment to transporter for providing chauffeur driven buses on ...
Direct Taxes (including International Taxation) | By ALOK PATNIA | Apr 8, 2015
If company hires buses along with drivers for providing pick and drop facility to its employees then payment to such transporter shall at...
Yuvraj Singh to play a new innings: YouWeCan Ventures
News & FAQs | By ALOK PATNIA | Apr 7, 2015
If you are a startup then you must be in search of funds. Funds are the basic but also a dreadful problem which lead to shut down. For su...
Depreciation shall not be claimed on goodwill if retiring partner were not paid in excess of bala...
Direct Taxes (including International Taxation) | By ALOK PATNIA | Apr 4, 2015
If retiring partner were not paid in excess of balance in capital account then, no goodwill arises. Thus, depreciation shall not be claim...
Purchases made from person carrying dummy business shall be added to the income of assessee u/s 69C
Direct Taxes (including International Taxation) | By ALOK PATNIA | Apr 4, 2015
Case:Assistant Commissioner of Income-tax vs. Shanti Swarup Jain Where assessee purchases from a firm running dummy business then such pu...
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