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Income from sale of export incentive – Sec 80IB
Direct Taxes (including International Taxation) | By ALOK PATNIA | Jun 7, 2012
The High Court has made it clear that income derived from sale of export incentive cannot be argued to be ‘income derived from the ...
Assessee and Minor Child both are Eligible for Separate Exemption u/s 54EC
News & FAQs | By ALOK PATNIA | Jun 7, 2012
As reported by The Economic Times: The Kolkata Income Tax Tribunal has put to rest the vexatious issue of whether long-term capital gains...
Save taxes by investing in NHAI & REC Bonds
Direct Taxes (including International Taxation) | By ALOK PATNIA | Jun 6, 2012
Capital gain is one of the important sources of income for the purpose of computation income tax. Any profit or gain arising from the tra...
Taxability of Packaging Services under Service Tax
GST & Other Indirect Taxes | By ALOK PATNIA | Jun 6, 2012
Packaging activity – It means packaging of goods including pouch filling, bottling, labeling or imprinting of the package, but does not...
Adidas Tempt To File Income Tax Returns in India
News & FAQs | By ALOK PATNIA | Jun 6, 2012
As per The Economic Times: Adidas, the German headquartered sports goods maker, has more problems on its hands than tackling the alleged ...
Advance Tax for Individual Tax Payers
Direct Taxes (including International Taxation) | By ALOK PATNIA | Jun 5, 2012
Section 208 states that an individual are liable to pay Advance Tax on income earned in current financial year on estimation basis if the...
Submit ITR V Form to CPC Bangalore to Complete Income Tax Return Filing
Direct Taxes (including International Taxation) | By ALOK PATNIA | Jun 5, 2012
ITR V stands for ‘Income Tax Return – Verification’ form. It is an acknowledgment for E-filing which is generated after uploading t...
Export sales are not a source of income outside India
Direct Taxes (including International Taxation) | By ALOK PATNIA | Jun 5, 2012
CIT vs. Havells India Ltd (Delhi High Court) As per ITAT.ORG: The assessee, an Indian company, paid Rs. 14.71 lakhs to a US company for â...
Abolition of Service Tax on Air Tickets proposed by Aviation Ministry
News & FAQs | By ALOK PATNIA | Jun 4, 2012
As per The Economic Times: The aviation ministry has called for abolition of service tax on air tickets and reduction in sales tax on avi...
TDS Defaulter Is Liable Only For Interest & Penalty & Not for Tax
Direct Taxes (including International Taxation) | By ALOK PATNIA | Jun 4, 2012
Jagran Prakashan Ltd vs. DCIT (TDS) (Allahabad High Court) As per the ITAT.ORG: The assessee, a publisher of newspapers, gave 10-15% trad...
Service Tax on General Insurance Services
GST & Other Indirect Taxes | By ALOK PATNIA | Jun 4, 2012
General Insurance Business means fire, marine or miscellaneous insurance business, whether carried on singly or in combination of one o...
All About Partition of HUF
News & FAQs | By ALOK PATNIA | Jun 2, 2012
Under the Income Tax Act, divisions have been made in respect of individuals, companies, firms and HUFs. All these different entity have ...
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