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Limit of 54EC Bonds apply to the financial year not to the transaction and Delay in investment du...
Direct Taxes (including International Taxation) | By ALOK PATNIA | Apr 24, 2012
Aspi Ginwala vs. ACIT (ITAT Ahmedabad) The assessee sold property on 22.10.2007 and computed long-term capital gains. The s. 54EC investm...
Retrospective Effect may yield around Rs 40,000 cr
News & FAQs | By ALOK PATNIA | Apr 24, 2012
Proposal to amend the Income Tax Act with retrospective effect to bring into tax net Vodafone-type deals is expected to yield to the exch...
FAQ on House Property – Vol.II
Direct Taxes (including International Taxation) | By ALOK PATNIA | Apr 24, 2012
Now lets take our discussion to the next level. 1)Â Â Â Â Â How to Calculate Gross Annual Value? Mr. X owns a property at Mumbai. Munici...
FAQ on House Property – Vol.I
Direct Taxes (including International Taxation) | By ALOK PATNIA | Apr 24, 2012
One of the most popular genres of queries from individuals is about the way the rental income from house property is taxable, and the way...
Who can use ITR 6 for online return filing?
Direct Taxes (including International Taxation) | By ALOK PATNIA | Apr 24, 2012
All the taxpayers including Individuals, HUFs, Firms, Companies, all are accountable to Income Tax Department as they are required to fil...
Taxability of Consulting Engineer’s Services
Direct Taxes (including International Taxation) | By ALOK PATNIA | Apr 24, 2012
“Consulting engineer†means any professionally qualified engineer or any body corporate or any other firm who, either directly or ind...
SBI rate cut may trigger war in car loan segment
News & FAQs | By ALOK PATNIA | Apr 24, 2012
According to Times Of India: The country’s largest bank, State Bank of India, has slashed auto loan rates and deposit rates while m...
Necessity of, or rewrite of transaction cannot be examined by Transfer Pricing Officer
Direct Taxes (including International Taxation) | By ALOK PATNIA | Apr 23, 2012
CIT vs. EKL Applicances Ltd (Delhi High Court) The assessee paid brand fee/ royalty to an enterprise pursuant to an agreement it entered ...
Tax benefits on conversion of Company into LLP
Corporate Law & Intellectual Property Rights | By ALOK PATNIA | Apr 23, 2012
On conversion of a Private Limited/ Public Company into Limited Liability Partnership (LLP) various tax benefits are being provided. A LL...
Consortium of non-residents to be treated & taxed as AOP in India: AAR
News & FAQs | By ALOK PATNIA | Apr 23, 2012
According to Authority for Advance Ruling (AAR), a consortium formed by non-residents to bid for a turnkey project in India is to be trea...
Govt may cut capital gains tax on PEs unlisted stocks to 10%
News & FAQs | By ALOK PATNIA | Apr 23, 2012
According to the Economic Times Report:The finance ministry is set to halve the tax burden to keep alive the interest of private equity (...
Invest in Rajiv Gandhi Equity Savings Scheme – Get deduction
Direct Taxes (including International Taxation) | By ALOK PATNIA | Apr 23, 2012
New deduction has been proposed in the Budget in respect of investment made in equities i.e., Rajiv Gandhi Equity Savings Scheme (RGESS) ...
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