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No Disallowance u/s 14A/Rule 8D, if AO is satisfied with the correctness of the assessee’s claim
Direct Taxes (including International Taxation) | By ALOK PATNIA | May 8, 2012
Auchtel Products Ltd vs. ACIT (ITAT Mumbai) Assessee claimed in AY 2008-09 that in earning income from dividend it had not incurred any e...
Things To Know While Selecting Name of a Company or LLP
Corporate Law & Intellectual Property Rights | By ALOK PATNIA | May 8, 2012
An entrepreneur who is willing to start a new business is required to take into account various aspects before incorporation. One of the ...
Taxability of Credit Card and Club Expenditure – Perquisites
Direct Taxes (including International Taxation) | By ALOK PATNIA | May 8, 2012
 However, these expenses are often incurred to entertain customers and clients for the purposes of business. Therefore, where such expen...
Taxation of Free Meals – Perquisites
Direct Taxes (including International Taxation) | By ALOK PATNIA | May 8, 2012
The provision of free meals varies widely from uniform canteen food, coupons, etc., to lavish hotel meals. The scheme of free meals as a ...
Taxation of Motor Car Perquisite
Direct Taxes (including International Taxation) | By ALOK PATNIA | May 8, 2012
When you might be thrilled to know that your boss will provide you a car for official usage, owing to your commendable efforts behind the...
Beauty Treatment Services – Taxable?
GST & Other Indirect Taxes | By ALOK PATNIA | May 8, 2012
Beauty treatment includes hair cutting, hair dyeing and hair dressing, face and beauty treatment, cosmetics treatment, manicure, pedicure...
Can EPABX and mobile phones be treated as computers?
Direct Taxes (including International Taxation) | By ALOK PATNIA | May 8, 2012
Case : Is it lawfully correct to claim 60 % depreciation on EPABX and mobile phones used for business by the assessee on the ground that ...
Foreign Banks Arms May Get Tax Relief
News & FAQs | By ALOK PATNIA | May 8, 2012
As per The Economic Times of India: Finance minister Pranab Mukherjee on 7th May 2012, encouraging foreign banks to incorporate in the co...
Is depreciation allowable on discarded plant and machinery?
Direct Taxes (including International Taxation) | By ALOK PATNIA | May 8, 2012
Case : Would the phrase ‘used for the purpose of business’ in respect of discarded machinery be eligible for depreciation und...
Is letting out lodge different from renting out building ?
Direct Taxes (including International Taxation) | By ALOK PATNIA | May 8, 2012
Case : Can an assessee engaged in letting out of  rooms in a lodging house also treat the income from renting a building to a bank on lo...
Claim Deduction u/s 80DDB
Direct Taxes (including International Taxation) | By ALOK PATNIA | May 7, 2012
Section 80DDB allows deduction to a resident Individual for the medical treatment of certain specified diseases or ailments. Therefore, t...
Sec 271AAA Vs Sec 271AAB
Direct Taxes (including International Taxation) | By ALOK PATNIA | May 7, 2012
Sec 271AAB will not only strengthen the penal provisions with respect to undisclosed income found, it will also motivate the taxpayer to ...
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