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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) ...
Amortisation of Preliminary Expenses – Section 35D
Direct Taxes (including International Taxation) | By ALOK PATNIA | Apr 23, 2012
Where an Indian Company or non- corporate resident assessee incurs any expenses at the time of commencement of business or on extension o...
Information Technology Software Services – Taxable?
Direct Taxes (including International Taxation) | By ALOK PATNIA | Apr 23, 2012
“Information technology softwareâ€means any representation of instruction, data, sound or image, including source code and object code...
Netting of income from expenditure is allowed for computing 80HHC deduction
Direct Taxes (including International Taxation) | By ALOK PATNIA | Apr 21, 2012
ACG Associated Capsules Pvt. Ltd vs. CIT (Supreme Court)Â The AO & CIT (A) computed s. 80HHC deduction by deducting 90% of the gross...
GAAR proposals may be diluted
News & FAQs | By ALOK PATNIA | Apr 21, 2012
Government may dilute some provisions of the proposed General Anti-Avoidance Rule (GAAR) to relieve investors who are anxious about the p...
How to convert Private Limited Company into LLP?
Corporate Law & Intellectual Property Rights | By ALOK PATNIA | Apr 21, 2012
To ‘convert’ in the context of conversion of a private limited company into a LLP means “a transfer of the property, ...
Who can use ITR 5 for online return filing?
Direct Taxes (including International Taxation) | By ALOK PATNIA | Apr 21, 2012
Income tax return is required to be filed by Firms, AOPs and companies too. Income Tax Department has notified separate Income Tax Retu...
Valuation of Taxable Perquisite of Free Education Facilities
Direct Taxes (including International Taxation) | By ALOK PATNIA | Apr 21, 2012
The taxable value of the perquisite will be calculated in case of provision of concessional / free educational facilities for any member ...
Pranab Allays US Fears on Retro Tax Issue
News & FAQs | By ALOK PATNIA | Apr 21, 2012
On Thursday India offered reassuring clarifications on new tax laws that have caused high fit of anger and irritation in US trade circles...
Declared Services – Taxability
Direct Taxes (including International Taxation) | By ALOK PATNIA | Apr 20, 2012
The term services includes a declared services, it becomes essential to understand the meaning and philosophy of the term declared servic...
Giving effect to Third Member’s opinion cannot be refused by Bench
Direct Taxes (including International Taxation) | By ALOK PATNIA | Apr 20, 2012
Tulip Hotels Pvt. Ltd vs. DCIT (ITAT Mumbai Special Bench) The Tribunal had to consider whether certain amounts could be assessed as cash...
Things to be kept in mind before filing Return of FY 2011-12
Direct Taxes (including International Taxation) | By ALOK PATNIA | Apr 20, 2012
Taxpayers scramble to file income tax return only when the due date approaches which leads to incorrect claims, filing return etc. Financ...
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