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Gain from shares invested out of Borrowed Funds assessed as STCG & not business profits
Direct Taxes (including International Taxation) | By ALOK PATNIA | May 10, 2012
Narendra Gehlaut vs. JCIT (ITAT Delhi) Gains from shares earned by the assessee out of which Rs. 7.61 crores was from delivery-based tran...
Interest u/s 234C for deferment in payment of advance tax
Direct Taxes (including International Taxation) | By ALOK PATNIA | May 10, 2012
Any income earned by an assessee during the financial year is taxable immediately in the following assessment year. Individual are liable...
Penalty Provisions Under Service Tax
GST & Other Indirect Taxes | By ALOK PATNIA | May 10, 2012
Every assessee under service tax should file their returns timely so as to avoid the penalty provisions. Under service tax penalty can be...
LLP Agreement and its Contents
Corporate Law & Intellectual Property Rights | By ALOK PATNIA | May 10, 2012
LLP Agreement is basically a contract entered into by the LLPs who are intending to start a LLP for carrying the business with profit mot...
No Service Tax will be Leviable on the Activities Taxed by States
News & FAQs | By ALOK PATNIA | May 10, 2012
The government today agreed to make changes in the definition of ‘services’ in the Negative List to address states’ concern on the ...
Factors to determine, Gain from shares is capital gain or business profits
Direct Taxes (including International Taxation) | By ALOK PATNIA | May 9, 2012
CIT vs. Vinay Mittal (Delhi High Court) On sale of shares the assessee earned gain and he offered LTCG of Rs. 2.59 crores and STCG of Rs....
Govt. holds back – Excise on gold jewellery & TDS on realty
News & FAQs | By ALOK PATNIA | May 9, 2012
Finance minister Pranab Mukherjee buckled under pressure from two powerful trade lobbies – jewellers and realtors – while dro...
Who can use ITR 7 for return filing?
Direct Taxes (including International Taxation) | By ALOK PATNIA | May 9, 2012
Who can use ITR7 Form? ITR 7 Form can be used by persons including companies who are required to furnish return under Section 139(4A) : F...
Taxability of Franchise Services Under Service tax
GST & Other Indirect Taxes | By ALOK PATNIA | May 9, 2012
“ Franchise †means an agreement by which the franchisee is granted representational right to sell or manufacture goods or to provide...
Section 25 Companies in the Companies Act, 1956
Corporate Law & Intellectual Property Rights | By ALOK PATNIA | May 9, 2012
Company is a form of business organizations in which the individuals contribute some amount of capital. Companies are distinct legal enti...
Firms may shift to DTAAs Countries
News & FAQs | By ALOK PATNIA | May 9, 2012
As per The Business Standard: Finance Minister Pranab Mukherjee’s amendments to the Finance Bill 2012-13, have ensured companies operat...
Tax of Rs 550 cr collected by IT department under International taxation
News & FAQs | By ALOK PATNIA | May 8, 2012
From Foreign shipping companies doing business at Gujarat ports, Directorate of International Taxation of the Income Tax Department has r...
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