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Direct Taxes (including International Taxation)
Income from licence of software assessable as Royalty
Direct Taxes (including International Taxation) | By ALOK PATNIA | May 21, 2012
CIT vs. Samsung Electronics Co Ltd (Karnataka High Court) The assessee imported “shrink-wrappedâ€/ “off-the-shelf†software from s...
Maintenance of Books of Accounts & Returns by LLP
Corporate Law & Intellectual Property Rights | By ALOK PATNIA | May 21, 2012
Limited Liability partnerships are also required to maintain certain books of accounts as other businesses require. The Act governing the...
If Payee not assessed, no TDS liability on payer u/s 195
Direct Taxes (including International Taxation) | By ALOK PATNIA | May 21, 2012
Crompton Creaves Ltd vs. DCIT (ITAT Mumbai) Public issue of Global Depository Receipts (GDR) was made by the assessee for the same he eng...
Deemed Owner of the House Property and Taxability
Direct Taxes (including International Taxation) | By ALOK PATNIA | May 19, 2012
Owner means the legal owner of a house property i.e. the person in whose name the property stands & who is chargeable to tax in respe...
Annual compliances by LLP
Corporate Law & Intellectual Property Rights | By ALOK PATNIA | May 19, 2012
Every business organization is required to mandatorily file their Annual Returns and Accounts with the Registrar of Companies (ROC) in or...
No Interest u/s 234A, 234B & 234C leviable, if not directed in assessment order
Direct Taxes (including International Taxation) | By ALOK PATNIA | May 19, 2012
CIT vs. Awadh Hotels (P) Ltd (Allahabad High Court) The Assessing officer passed 143(3) assessment order in which he omitted to direct th...
Concessional Rate of DDT
Direct Taxes (including International Taxation) | By ALOK PATNIA | May 18, 2012
Concessional Rate of DDT received by Indian Company from Specified Foreign Companies As per existing tax provisions, income from dividend...
Sole Proprietorship to Company – Taxability
Direct Taxes (including International Taxation) | By ALOK PATNIA | May 18, 2012
Tax issues as we know are the main concern of any assessee. Every assessee engaged in any form of business organization wants to reduce t...
Claim does not necessarily be “bona fide†if made relying on expert opinion
Direct Taxes (including International Taxation) | By ALOK PATNIA | May 18, 2012
Chadha Sugars Pvt. Ltd vs. ACIT (ITAT Delhi) Opinion of a Chartered Accountant on whether expenditure on fees to the ROC (Registrar of Co...
Claim foreign income tax as deduction u/s 37(1)
Direct Taxes (including International Taxation) | By ALOK PATNIA | May 17, 2012
DCIT vs. Mastek Limited (ITAT Ahmedabad) Income Tax Paid in Belgium by the assessee amounting to Rs.42.57 lakhs and assessee claimed the ...
Know all about Partners & Designated Partners of LLP
Corporate Law & Intellectual Property Rights | By ALOK PATNIA | May 17, 2012
Every business organizations have members/ partners who are responsible for carrying out the affairs of the company in a fair and prudent...
Should I file return even when I do not pay tax ?
Direct Taxes (including International Taxation) | By ALOK PATNIA | May 16, 2012
Common people are confused over the issues relating to return filing. Their main concern is regarding the exempted limit of return filing...
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