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Business purpose of transaction cannot be questioned by Transfer Pricing Officer
Direct Taxes (including International Taxation) | By ALOK PATNIA | May 14, 2012
Ericsson India Pvt. Ltd vs. DCIT (ITAT Delhi) Payment made by the assessee amounting to Rs. 31.34 crores to its associated enterprise for...
Pantaloon ready for takeover
News & FAQs | By ALOK PATNIA | May 14, 2012
At the beginning of 2012, a debtburdened Kishore Biyani roped in Vishal Kampani of investment bank JM Financials to advise him on easi...
Tax on Demerger
Direct Taxes (including International Taxation) | By ALOK PATNIA | May 14, 2012
As per section 391 to 394 of the Companies Act, 1956 there is no proper definition of demerger. Demerger simply means the splitting of th...
Basics of TDS
Direct Taxes (including International Taxation) | By ALOK PATNIA | May 14, 2012
TDS – Tax Deducted at Source TDS is one of the modes of collection of taxes, by which a certain percentage of amounts are deducted by a...
All about First Board Meeting after Incorporation
Corporate Law & Intellectual Property Rights | By ALOK PATNIA | May 14, 2012
Every Company, be it a Public or Private is required to hold Board Meeting after its incorporation and discuss relevant matters regarding...
Taxable value of Club expenses & other benefits from employer
Direct Taxes (including International Taxation) | By ALOK PATNIA | May 14, 2012
If your employer provides you the facility of Club expenses or any other facilities, then the same will be availed as benefits in one han...
Capital gain on buyback of shares held to be taxed as dividend
News & FAQs | By ALOK PATNIA | May 14, 2012
Now it’s common that any foreign investments coming into India are planned in a manner to lower the tax liability in India as possible....
Parameters to determine shares gain treated as Capital Gain or business profits
Direct Taxes (including International Taxation) | By ALOK PATNIA | May 12, 2012
CIT vs. Sahara India Housing Corporation Ltd (Delhi High Court) Gains from sale and purchase of securities/ shares, offered as “capit...
Govt. may get estimates of Black money by September end
News & FAQs | By ALOK PATNIA | May 12, 2012
Indian Government may be able to identify an estimate of black money floating in its economy by end September. As per The Economic Times ...
No penalty u/s 271(1)(c) inspite of concealment, if s. 115JB book profits assessed
Direct Taxes (including International Taxation) | By ALOK PATNIA | May 12, 2012
CIT vs. Nalwa Sons Investment Ltd (Supreme Court) The assessee filed a Return of Income (ROI) declaring loss of Rs.43.47 crores under the...
Taxability of Design Services Under Service Tax
GST & Other Indirect Taxes | By ALOK PATNIA | May 12, 2012
Design Services under service tax includes services provided in relation to designing of furniture, consumer products, industrial product...
How to Convert Partnership Firms into LLPs?
Corporate Law & Intellectual Property Rights | By ALOK PATNIA | May 12, 2012
To convert partnership firm into limited liability partnership (LLP) one needs to comply with various requirements. The procedure for con...
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