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Direct Taxes (including International Taxation)
Relaxation of additional fees and extension of last date in filing of various forms
Corporate Law & Intellectual Property Rights | By ALOK PATNIA | Feb 13, 2013
Ministry of Corporate Affairs has decided upon relaxation of additional fees applicable on forms as per the provisions of Companies Act r...
Form 23B – Additional Fee
Corporate Law & Intellectual Property Rights | By ALOK PATNIA | Feb 12, 2013
Every statutory auditor appointed by the company in the Annual General Meeting under section 224(1) of the Companies Act, 1956 in form 23...
File Income Tax Return & Plan Your taxes before 31st March 2013 – Save Penalty
Direct Taxes (including International Taxation) | By ALOK PATNIA | Feb 11, 2013
The Due Date 31st March 2013 is important for you in regarding to the Filing of Income Tax Return for the following Assessment Years – ...
Taxation of LLPs in India
Direct Taxes (including International Taxation) | By ALOK PATNIA | Feb 10, 2013
The law to tax income of Limited Liability Partnership (LLPs) will go a long way in promoting the formation of LLPs. Some of the key high...
When A Person Becomes A Non-Resident of India (NRI)
Direct Taxes (including International Taxation) | By ALOK PATNIA | Feb 8, 2013
Non-Resident Indian (NRI) is an Indian living outside India. The Term NRI, Generally, means a non-resident who is either an Indian Citize...
S. 271(1)(C) Attracts Penalty On Unexplained Surrender Income
Direct Taxes (including International Taxation) | By ALOK PATNIA | Jan 29, 2013
CIT vs. MAK Data Ltd (Delhi High Court) As per the ITATONLINE.ORG – A survey u/s 133A was conducted on the assessee’s premises in...
Only Financing the Vehicles Cannot be a Reason to Claim Depreciation
Direct Taxes (including International Taxation) | By ALOK PATNIA | Jan 16, 2013
I. C. D. S. Ltd vs. CIT (Supreme Court) The High Court reversed the Tribunal in regard to the eligibility of claiming depreciation. When ...
Shares Can Be Owned For the Purpose Of Investment And/or For The Purpose Of Trading
Direct Taxes (including International Taxation) | By ALOK PATNIA | Jan 15, 2013
As per the ITATONLINE.ORG – The assessee was maintaining separate portfolios for shares in the trading account and for those in the...
Explanation of Law on Valuation of Shares of A Closely Held Company
Direct Taxes (including International Taxation) | By ALOK PATNIA | Jan 14, 2013
As per the ITATONLINE.ORG – The assessee held 50% of the shares in L&T Infocity Asendas Ltd (“LTIALâ€) while the rest were h...
TDS on Remuneration Paid To Directors U/S 194J(1)(ba)
Direct Taxes (including International Taxation) | By ALOK PATNIA | Jan 14, 2013
An employer needs to deduct TDS on salary paid to employees as per the provisions U/S 192 of the Income Tax Act 1961and the term employee...
Section 143(1) Intimation cannot be reopened u/s 147 without Fresh Material
Direct Taxes (including International Taxation) | By ALOK PATNIA | Jan 8, 2013
CIT VS. ORIENT CRAFT LTD (DELHI HIGH COURT) As per ITATONLINE.ORG – The assessee filed a ROI in which it claimed Section 80HHC dedu...
FAQs on Form 26AS – Tax Credit Statement
Direct Taxes (including International Taxation) | By ALOK PATNIA | Dec 21, 2012
1.     What is Form 26AS? Form 26AS is a consolidated tax statement issued under Rule 31 AB of Income Tax Rules to PAN holders’ i...
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