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Hopes raised for e- filing of returns to go paperless
News & FAQs | By ALOK PATNIA | Last updated on Mar 31, 2017
Must be Busy in filing returns.. just few days left. However, remember just filing will not be enough to make the return valid. Submittin...
Where guarantor repays loan of its subsidiary for benefits of its business then such expense shal...
Direct Taxes (including International Taxation) | By ALOK PATNIA | Last updated on Oct 5, 2017
The High Court ruled that if installments of loans taken by subsidiary company were repaid by guarantor for protecting its business then,...
Claim Sec. 54 on sale of short-term asset being building if developed on land, which is long-term...
Direct Taxes (including International Taxation) | By ALOK PATNIA | Last updated on Oct 5, 2017
Where land being long term capital asset and building being short term capital are sold then, assessee was entitled to claim benefit of s...
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...
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