Direct Taxes (including International Taxation)

There is no automatic application of MFN clause for lower withholding tax in India

The Supreme Court of India came out with its ruling on the “most favoured nation” (MFN) clause contained in the tax treaties of India-Swi...

UAE Issues List of Exemptions for Corporate Tax Registration Under New Law

    The United Arab Emirates (UAE) has recently notified the list of persons who are exempted from obtaining corporate tax regi...

SUPREME COURT RULING ON SECTION 148: SQUARE DEAL OR A LEFT HANDED COMPLIMENT TO THE ASSESSEE!

On May 4, 2022 Supreme Court passed a judgement, in the case of Ashish Agarwal vs. Union of India, which became a landmark for all the wr...

UNION BUDGET 2022 – Crypto taxes, New Digital Currency, Tax Holiday for Startups – Ke...

CFO Advisory Services | By ALOK PATNIA | Feb 1, 2022

  The Finance Minister #NirmalaSitharaman presented the Union Budget today. Overall, the budget is being acclaimed as a pro-investme...

Real Estate- Deduction for land purchase cost without sale- IT Act, 1961

Direct Taxes (including International Taxation) | By CA Ritika Lath | Aug 10, 2021

When any person is engaged in the business of real estate, the immovable property purchased is represented as stock (mostly as Work In Pr...

Supreme Court Judgement on tax holidays for eligible business – section 80-IA- IT Act, 1961

Direct Taxes (including International Taxation) | By CA Ritika Lath | Aug 10, 2021

Deduction of income from other sources also alongwith eligible business u/s 80-IA of IT Act, 1961 – Supreme Court verdict Section 8...

What are “affiliate marketing services” and what are its tax implications?

Direct Taxes (including International Taxation) | By CA Ritika Lath | Aug 5, 2021

E-Commerce Business is witnessing resurgence in India due to increasing penetration of internet use base in Tier-II and Tier-III cities e...

No Depreciation on Goodwill from F.Y. 2020-21

Direct Taxes (including International Taxation) | By CA Ritika Lath | Aug 4, 2021

Alert- Adjustment required in F.Y. 2020-21 if depreciation on goodwill claimed in F.Y. 2019-20 Income Tax Act, 1961 (Act) provides deprec...

FAQs on Penalties under the Income Tax Act 1961

Direct Taxes (including International Taxation) | By CA Ritika Lath | Jul 15, 2021

FAQs on Penalties under the Income Tax Act 1961   There are penalties defined for maximum kind of defaults in laws of Income Tax Act...

TDS on purchase of goods-Section 194Q of the Income Tax Act, 1961

Direct Taxes (including International Taxation) | By CA Ritika Lath | Jun 28, 2021

  TDS on purchase of goods-Section 194Q of the Income Tax Act, 1961 From -01-07-2021, if any person whether from India or outside India i...

Important update- TDS/TCS Return under the IT Act, 1961

Direct Taxes (including International Taxation) | By CA Ritika Lath | Jun 17, 2021

In terms of Rule 31A of the Income Tax Rules, 1962 any person responsible for deducting TDS has to furnish quarterly TDS Return within th...

Fair Market Value for slump sale u/s 50 B of IT Act, 1961- Notified on 24-05-2021

Direct Taxes (including International Taxation) | By CA Ritika Lath | May 26, 2021

Before the amendment made vide Finance Act, 2021 under section 50B of the income Tax Act, 2021 (Act), capital gain on slump sale i.e. tra...

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