Direct Taxes (including International Taxation)

5th May, 2015

Posted by ALOK PATNIA

Clarification on classification of...

Rental income received from letting out the property shall be taxed under House Property or as Business Income? Whenever...

5th May, 2015

Posted by ALOK PATNIA

Machines eligible for depreciation...

Where machines installed before the end of financial year to be used for trial run and not for production...

4th May, 2015

Posted by ALOK PATNIA

No penalty on non-deduction...

Gifts were distributed without deducting tax to employees on a bona fide believe that such gifts shall not form...

28th April, 2015

Posted by ALOK PATNIA

Regular trading transactions between...

Where there were regular trading transactions between shareholder and company and the payments received against sales made during course...

13th April, 2015

Posted by ALOK PATNIA

Higher TDS rate of...

Case: Deputy Director of Income-tax vs. Serum Institute of India Ltd. Where NR does not furnish PAN, TDS on...

8th April, 2015

Posted by ALOK PATNIA

TDS u/s 194C shall...

If company hires buses along with drivers for providing pick and drop facility to its employees then payment to...

4th April, 2015

Posted by ALOK PATNIA

Depreciation shall not be...

If retiring partner were not paid in excess of balance in capital account then, no goodwill arises. Thus, depreciation...

4th April, 2015

Posted by ALOK PATNIA

Purchases made from person...

Case:Assistant Commissioner of Income-tax vs. Shanti Swarup Jain Where assessee purchases from a firm running dummy business then such...

2nd April, 2015

Posted by ALOK PATNIA

Foreign technical expense related...

Assessee incurring expenditure in foreign exchange for providing of technical services related to his business of export of computer...

31st March, 2015

Posted by ALOK PATNIA

Income shall be computed...

Case: Income-tax Officer vs. Om Silk Mills Facts: The assessee filed its return on 31.10.2003 declaring total income of...

31st March, 2015

Posted by ALOK PATNIA

Capital Gain shall be...

The Tribunal held – If the capital gain wrongly showed in hands of HUF while the individual owned the...

25th March, 2015

Posted by ALOK PATNIA

Where guarantor repays loan...

The High Court ruled that if installments of loans taken by subsidiary company were repaid by guarantor for protecting...
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