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New ITR Forms will include Foreign Assets and Accounts
Direct Taxes (including International Taxation) | By ALOK PATNIA | Jun 14, 2012
A new column has been inserted in the new ITR Forms by the Government for FY 2012- 13 in order to curb the black money held by Indians in...
Income Earned From Indian Arms by Foreign Companies Can Be Taxable
News & FAQs | By ALOK PATNIA | Jun 14, 2012
As reported by The Economic Times: Foreign companies are liable to be taxed for the income generated from their Indian subsidiaries, acco...
Indirect tax collection in May 2012 raised by 16%
News & FAQs | By ALOK PATNIA | Jun 12, 2012
As reported by Business Standards: Led by a sharp jump in service tax mop-up, indirect tax collections in May increased 16.1 per cent to ...
Assessee and Minor Child both are Eligible for Separate Exemption u/s 54EC
News & FAQs | By ALOK PATNIA | Jun 7, 2012
As reported by The Economic Times: The Kolkata Income Tax Tribunal has put to rest the vexatious issue of whether long-term capital gains...
Adidas Tempt To File Income Tax Returns in India
News & FAQs | By ALOK PATNIA | Jun 6, 2012
As per The Economic Times: Adidas, the German headquartered sports goods maker, has more problems on its hands than tackling the alleged ...
Abolition of Service Tax on Air Tickets proposed by Aviation Ministry
News & FAQs | By ALOK PATNIA | Jun 4, 2012
As per The Economic Times: The aviation ministry has called for abolition of service tax on air tickets and reduction in sales tax on avi...
All About Partition of HUF
News & FAQs | By ALOK PATNIA | Jun 2, 2012
Under the Income Tax Act, divisions have been made in respect of individuals, companies, firms and HUFs. All these different entity have ...
Retrospective amendments in royalties rejected by ITAT
News & FAQs | By ALOK PATNIA | May 31, 2012
As reported by The Economic Times of India: In what is among the first of many legal battles over the controversial retrospective amendme...
IT industry got the Relief from the Multi-Level TDS
News & FAQs | By ALOK PATNIA | May 31, 2012
On  30/05/2012 Finance Minister Pranab Mukherjee said that his ministry has issued a circular which will avoid multi level TDS on softwa...
Relevant FAQ’s on Taxability of Stamp Duty
News & FAQs | By ALOK PATNIA | May 31, 2012
Q.1) What is the definition of Stamp Duty as per section 56(2) (vii)? Ans. As per section 56(2) (vii), the “stamp duty value†of ...
Taxation of Business Process Outsourcing Units – BPO
News & FAQs | By ALOK PATNIA | May 30, 2012
Business Process Outsourcing is a process of hiring another company to handle business activities for you. A BPO is different from the as...
Steps to create a HUF (Hindu Undivided Family)
News & FAQs | By ALOK PATNIA | May 29, 2012
An assessee is always concerned about the tax structure in relation to any form of business organization be it a sole proprietorship, com...
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