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Retrospective amendments in royalties rejected by ITAT
News & FAQs | By ALOK PATNIA | May 31, 2012
As reported by The Economic Times of India: In what is among the first of many legal battles over the controversial retrospective amendme...
100% Depreciation on Sale & Lease Back allowable despite of Tax Avoidance
Direct Taxes (including International Taxation) | By ALOK PATNIA | May 31, 2012
CIT vs. Cosmo Films Ltd (Delhi High Court) Equipment from the Haryana State Electricity Board (“HSEBâ€) was purchased by the assessee ...
IT industry got the Relief from the Multi-Level TDS
News & FAQs | By ALOK PATNIA | May 31, 2012
On  30/05/2012 Finance Minister Pranab Mukherjee said that his ministry has issued a circular which will avoid multi level TDS on softwa...
Relevant FAQ’s on Taxability of Stamp Duty
News & FAQs | By ALOK PATNIA | May 31, 2012
Q.1) What is the definition of Stamp Duty as per section 56(2) (vii)? Ans. As per section 56(2) (vii), the “stamp duty value†of ...
Dependent Agent Permanent Establishment and its Taxability
Direct Taxes (including International Taxation) | By ALOK PATNIA | May 30, 2012
DDIT vs. B4U International Holdings Ltd (ITAT Mumbai) The assessee, a Mauritius company, was engaged in telecasting TV channels. In India...
Scientific or Technical Consultancy Services under Service Tax
GST & Other Indirect Taxes | By ALOK PATNIA | May 30, 2012
Scientific or Technical Consultancy – It refers to any advice, consultancy, or scientific or technical assistance rendered in any manne...
Slump sale and its Taxability
Direct Taxes (including International Taxation) | By ALOK PATNIA | May 30, 2012
Slump sale means the transfer of one or more undertakings as a result of the sale for lump sum consideration without values being assigne...
Taxation of Business Process Outsourcing Units – BPO
News & FAQs | By ALOK PATNIA | May 30, 2012
Business Process Outsourcing is a process of hiring another company to handle business activities for you. A BPO is different from the as...
Double Taxation Relief
Direct Taxes (including International Taxation) | By ALOK PATNIA | May 30, 2012
Double Taxation is a situation in which the same income becomes taxable in the hands of the same company or individuals (tax- payer) in m...
Facts relating to House Property owned by NRI
Direct Taxes (including International Taxation) | By ALOK PATNIA | May 29, 2012
NRI often have confusion over the tax related issues and provisions in respect of immovable properties. They have various queries regardi...
Steps to create a HUF (Hindu Undivided Family)
News & FAQs | By ALOK PATNIA | May 29, 2012
An assessee is always concerned about the tax structure in relation to any form of business organization be it a sole proprietorship, com...
Taxability of Gifts Received by individual or HUF
Direct Taxes (including International Taxation) | By ALOK PATNIA | May 29, 2012
Gifts received by an individual or HUF are taxable in certain situations as prescribed by the Income Tax Act. The gift may be in the form...
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