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Direct Taxes (including International Taxation)
Is depreciation allowable on discarded plant and machinery?
Direct Taxes (including International Taxation) | By ALOK PATNIA | May 8, 2012
Case : Would the phrase ‘used for the purpose of business’ in respect of discarded machinery be eligible for depreciation und...
Is letting out lodge different from renting out building ?
Direct Taxes (including International Taxation) | By ALOK PATNIA | May 8, 2012
Case : Can an assessee engaged in letting out of  rooms in a lodging house also treat the income from renting a building to a bank on lo...
Claim Deduction u/s 80DDB
Direct Taxes (including International Taxation) | By ALOK PATNIA | May 7, 2012
Section 80DDB allows deduction to a resident Individual for the medical treatment of certain specified diseases or ailments. Therefore, t...
Sec 271AAA Vs Sec 271AAB
Direct Taxes (including International Taxation) | By ALOK PATNIA | May 7, 2012
Sec 271AAB will not only strengthen the penal provisions with respect to undisclosed income found, it will also motivate the taxpayer to ...
Latest Penal Provisions – Penalty by slabs on undisclosed income
Direct Taxes (including International Taxation) | By ALOK PATNIA | May 7, 2012
The newly-introduced penal provision (Penalty on undisclosed income as per sec 271AAB) has been introduced by our Hon’ble Finance Minis...
Taxability of Health & Fitness Services
Direct Taxes (including International Taxation) | By ALOK PATNIA | May 7, 2012
Health and fitness service refers to any service for physical well- being such as sauna and steam bath, Turkish bath, solarium, spas, r...
Reference to Valuation Officer in respect of FMV of Capital Asset
Direct Taxes (including International Taxation) | By ALOK PATNIA | May 5, 2012
There are different circumstances in which an Assessing Officer and Income Tax Officer shall refer the Valuer Officer in order to ascerta...
Key Pointers about taxation of LLPs
Direct Taxes (including International Taxation) | By ALOK PATNIA | May 5, 2012
Tax is something which every business entity is required to pay to Income Tax department in India. Tax laws have been introduced for ever...
How to Avail Deduction of Telecom License Fees?
Direct Taxes (including International Taxation) | By ALOK PATNIA | May 4, 2012
Deduction will be allowed in respect of any capital expenditure incurred and actually paid by an assessee for acquiring any right to oper...
Claim Deduction for Medical Insurance Premium – 80D
Direct Taxes (including International Taxation) | By ALOK PATNIA | May 4, 2012
Every family has their regular medical expenses. Therefore, to reduce medical bills which is a burden, one should adopt mediclaim policy ...
TDS Disallowance could be made only of amounts “payableâ€, not of amount already “paidâ€
Direct Taxes (including International Taxation) | By ALOK PATNIA | May 3, 2012
M/s. Merilyn Shipping & Transports vs. ACIT (ITAT Visakhapatnam Special Bench) The assessee incurred brokerage expenses and commissio...
Air Travel Agent Services and Its Taxability
Direct Taxes (including International Taxation) | By ALOK PATNIA | May 3, 2012
Air Travel Agent means any person engaged in providing any services connected with the booking of passage for travel by air. In this cont...
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