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Some expenses which can also be claimed as business expenditure
Direct Taxes (including International Taxation) | By ALOK PATNIA | Dec 3, 2013
This article is basically based on those expenditure which are incurred in day to day operations and interestingly some people bluntly sa...
Clubbing provisions in case of minor child’s income not at all unconstitutional
Direct Taxes (including International Taxation) | By ALOK PATNIA | Dec 2, 2013
The scope of clubbing the income of minor child has been noticed with the insertion of Section 64(1A) of Income Tax Act, 1961 and Section...
Cyprus the tax haven falling in line
News & FAQs | By ALOK PATNIA | Dec 2, 2013
In a first instance of its kind, India has classified Cyprus as a non cooperative tax jurisdiction, and the move has evoked mixed respons...
Mega exemption for health care/ medical businesses
GST & Other Indirect Taxes | By ALOK PATNIA | Nov 30, 2013
This blog is for the medical practitioners and hospital/nursing businesses in specifics. This is only an extract of the mega exemption li...
Startups business and their accounting issues
Corporate Law & Intellectual Property Rights | By ALOK PATNIA | Nov 29, 2013
Starting a business seems to be quite interesting but running it properly and hassle free really requires a lot of hard work, dedication ...
A tax analysis of speculative business and recent notification
Direct Taxes (including International Taxation) | By ALOK PATNIA | Nov 29, 2013
A transaction in which a contract for the purchase/sale of any commodity (including shares) is periodically or ultimately settled otherwi...
Whether service tax or vat on sale of software (Both packaged and tailored)
Direct Taxes (including International Taxation) | By ALOK PATNIA | Nov 28, 2013
Normally Service Tax is payable to the Central Government when a service is offered, while VAT is applicable when a product is sold and p...
No condition that the assessee should utilize sale consideration only for the purpose of acquisit...
Direct Taxes (including International Taxation) | By ALOK PATNIA | Nov 28, 2013
The exemption of section 54F is only available to individual and HUF. In a recent case the Delhi Tribunal held that there is no condition...
Online payment of service tax payment mandatory for Rs. 1lac and above
News & FAQs | By ALOK PATNIA | Nov 27, 2013
In a move towards online automation of payment of service taxes initiative, the central government makes online payment of service tax pa...
Is Tax to deducted on payment made for online services
Direct Taxes (including International Taxation) | By ALOK PATNIA | Nov 27, 2013
Online Services is commerce transacted electronically. Communication messages are transmitted through electronic medium. The system is ru...
Service Tax Voluntary Compliance Encouragement Scheme becomes more flexible to cover as many case...
News & FAQs | By ALOK PATNIA | Nov 27, 2013
Service Tax Voluntary Compliance Encouragement Scheme becomes more flexible to cover as many cases as possible , the finance ministry is ...
License agreement for allowing the use of the software would not be royalty under DTAA
Direct Taxes (including International Taxation) | By ALOK PATNIA | Nov 26, 2013
A royalty is a usage-based payment made by one party to another for the right to ongoing use of an asset, sometimes an intellectual p...
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