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GAAR Not To Apply On P-Notes
Corporate Law & Intellectual Property Rights | By ALOK PATNIA | Apr 3, 2012
Facing a critical situation made more vulnerable by market volatility, FM Pranab Mukherjee announced that the new General Anti-Avoidance ...
Deduction of head office expenditure for NRIs – Section 44C
Direct Taxes (including International Taxation) | By ALOK PATNIA | Apr 2, 2012
As per section 44C of Income Tax Act ,deduction allowed for head office expenditure incurred outside India by NRIs (attributable to the b...
Additional Depreciation Benefits For Power Generation & Distribution Companies
Corporate Law & Intellectual Property Rights | By ALOK PATNIA | Apr 2, 2012
Section 32 provides for additional depreciation on new plant and machinery (other than ships and aircrafts), which has been acquired and ...
Income accruing to VCF / VCU to be taxed on accrual basis
News & FAQs | By ALOK PATNIA | Mar 31, 2012
Section 115U provides that income, in the hands of the investor through VCF / VCC is taxed in like manner and to the same extent as if th...
No tax on gifts to HUF – Budget 2012
News & FAQs | By ALOK PATNIA | Mar 31, 2012
This article brings into spotlight the benefits endowed upon HUFs via Budget 2012 proposals. Receipt of gift by HUF excluded from tax u/s...
Cash Credits & Unexplained Income – Sec 68 – Budget 2012
Direct Taxes (including International Taxation) | By ALOK PATNIA | Mar 30, 2012
Existing provision of Sec 68 mandates that where any income is found in the books of assessee as credited or unexplained in the previou...
Hike in Interest Rate of PPF to 8.8% – w.e.f 1st April 2012
Direct Taxes (including International Taxation) | By ALOK PATNIA | Mar 29, 2012
Government is on a drive to hike interest rate on small savings scheme i.e, on PPF (Public Provident Fund) which will be effective from 1...
Budget 2012 – Alternate Minimum Taxes for All
News & FAQs | By ALOK PATNIA | Mar 26, 2012
Under the existing provisions of Income Tax Act, 1961 AMT (Alternate Minimum Tax) was applicable only on Limited Liability Partnerships (...
Sec 35CCD – Expenditure on Skill Development Projects
Corporate Law & Intellectual Property Rights | By ALOK PATNIA | Mar 26, 2012
APPLICABILITY – Where a Company incurs any expenditure (except expenditure in the nature of acquisition of any land/building) on any sk...
Sec 35CCC – Expenditure on Agricultural Extension Projects
Corporate Law & Intellectual Property Rights | By ALOK PATNIA | Mar 26, 2012
APPLICABILITY – Where an assessee incurs any expenditure on agricultural extension project notified by the Board in this behalf in acco...
Budget 2012 – TDS – Amendments and Implications
News & FAQs | By ALOK PATNIA | Mar 26, 2012
Newly Inserted Sections Section 194LAA Section 194LC Amendments in existing Sections Section 193 Section 194E Section 194J Section 194LA ...
Budget 2012 impact on Individuals
News & FAQs | By ALOK PATNIA | Mar 22, 2012
Budget 2012 announced by honourable Finance Minister will have impact on individuals also, be it salaried individual or self-employed. ...
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