ALOK PATNIA – Page 196 – Advisory, Tax and Regulatory Compliance in India, Singapore and USA

Disallowance Applies To Partnerâ€™s Share of Profits but Not To Depreciation U/S 14A

Direct Taxes (including International Taxation) | By ALOK PATNIA | Jun 14, 2012

The Special Bench had to consider two issues: (i) given that a firm pays tax on its profits, whether the share of profit received by a pa...

New ITR Forms will include Foreign Assets and Accounts

Direct Taxes (including International Taxation) | By ALOK PATNIA | Jun 14, 2012

A new column has been inserted in the new ITR Forms by the Government for FY 2012- 13 in order to curb the black money held by Indians in...

Income Earned From Indian Arms by Foreign Companies Can Be Taxable

News & FAQs | By ALOK PATNIA | Jun 14, 2012

As reported by The Economic Times: Foreign companies are liable to be taxed for the income generated from their Indian subsidiaries, acco...

Filing of Income Tax Returns by NRIs in India

Direct Taxes (including International Taxation) | By ALOK PATNIA | Jun 13, 2012

Income tax return is mandatorily required to be filed by every Individual, Companies, Partnership firms and other associations. Similarly...

Steps for Conversion of Proprietorship Firm Into Company

Corporate Law & Intellectual Property Rights | By ALOK PATNIA | Jun 13, 2012

A Proprietorship Firm is a small scale business operating unit as the individual is responsible for the assets, liabilities and other obl...

Indirect tax collection in May 2012 raised by 16%

News & FAQs | By ALOK PATNIA | Jun 12, 2012

As reported by Business Standards: Led by a sharp jump in service tax mop-up, indirect tax collections in May increased 16.1 per cent to ...

Different ITR Forms for Filing Returns for F.Y 2011-12

Direct Taxes (including International Taxation) | By ALOK PATNIA | Jun 12, 2012

For filing of Income Tax Returns for Financial Year 2011-12 various forms have been released by the IT Department. Different types of ITR...

Composite Rent and Its Taxability in IT Act

Direct Taxes (including International Taxation) | By ALOK PATNIA | Jun 11, 2012

When the total amount i.e. rent of the building along with the hire charges for other assets such as furniture or service charges for cer...

Subsidiary Created for Indian business is a PE of the Foreign Parent

Direct Taxes (including International Taxation) | By ALOK PATNIA | Jun 9, 2012

In Re Aramex International Logistics Pvt Ltd (AAR) As reported by ITAT.ORG: The applicant, a Singapore company, entered into an agreement...

Importance of Filing Income Tax Return

Direct Taxes (including International Taxation) | By ALOK PATNIA | Jun 9, 2012

Return of income is nothing but a proof of income earned. Return is merely a form which specifies the details to be filled in by the appl...

MICR Code is mandatory for Tax Refunds

Direct Taxes (including International Taxation) | By ALOK PATNIA | Jun 8, 2012

People are observed to be more cautious towards filing of income tax return on time as they are aware of its importance as well as benefi...

Claim deduction for the Investments even if not declared to the Employer