Taxmantra Global is battle-ready for the COVID-19 outbreak with full client delivery capability intact

At the time of penning this, the COVID-19 crisis is increasing exponentially all over the world. Global leaders and organizations are doing their best to manage this crisis. Even so, the boundaries are getting severely stretched. However, it is not just a macro crisis that needs to be handled at a global level.

Blogs

If AO not satisfied with correctness of accounts then AO has the power to reject the books

Direct Taxes (including International Taxation) | By ALOK PATNIA | Last updated on Oct 5, 2017

Where errors in vouchers and in other account books are discovered and no credible reason was extended by the assessee then, AO’s action ...

If shares held for investment purpose then profit on sale of shares shall be capital gains

Direct Taxes (including International Taxation) | By ALOK PATNIA | Last updated on Oct 5, 2017

Long-term capital gain shall be calculated on profit on sale of shares held as long-term investment by the assessee. Further, assessee en...

Expense if treated as revenue expenditure in earlier years then principle of consistency shall be...

Direct Taxes (including International Taxation) | By ALOK PATNIA | Last updated on Oct 5, 2017

The High Court in a case ruled that if expenses incurred for replacement in membrane cells – I plant was treated as revenue expendi...

Board meeting filing relaxed, good news for businesses

Corporate Law & Intellectual Property Rights | By ALOK PATNIA | Last updated on Oct 5, 2017

For every step taken in a company, you need to file a form for that. Among the heap of forms, the government has provided some relaxation...

Why and Who need to file tax returns before 31st march 2015?

News & FAQs | By ALOK PATNIA | Last updated on Oct 5, 2017

Its March ending and everyone is busy in the process of closing their books of accounts. Many things must be running in your mind like ha...

You need to pay service tax by 31st march – Is it Fair?

GST & Other Indirect Taxes | By ALOK PATNIA | Last updated on Nov 22, 2019

31st March is already marked with many due dates for compliances to be made. Are you aware of the due date of service tax payment? If not...

Partners introducing capital in the firm shall not be deemed as loan

Direct Taxes (including International Taxation) | By ALOK PATNIA | Last updated on Oct 5, 2017

If money exchanged between partners and partnership firm,provisions of section 269SS would not be violated. Case: Commissioner of Income-...

Clarification regarding certain deductions and Expense incurred on expansion of existing business

Direct Taxes (including International Taxation) | By ALOK PATNIA | Last updated on Oct 5, 2017

In Commissioner of Income Tax vs. Nirma Ltd., following issues were raised:   While claiming deduction under sections 80HH, 80-I and 80HH...

Will the rate cut benefit ever be passed on to common people?

News & FAQs | By ALOK PATNIA | Last updated on Mar 17, 2015

Good news in this year was two rounds of rate cuts by Central Bank. Whereas, the bad news is that inspite of rate cut there is no reducti...

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