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.

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Key Highlights of Budget 2015

News & FAQs | By ALOK PATNIA | Last updated on Nov 25, 2015

The highlights of budget 2015 presented by the Finance Minister are as understated: BUDGET ESTIMATES Non-Plan expenditure estimates for t...

What is there in Budget 2015 for you and me – the middleclass?

News & FAQs | By ALOK PATNIA | Last updated on Mar 31, 2017

Tax proposals in Budget 2015-16 for the common middle class tax payers benefit them in various ways. Budget 2015 which was expected to us...

No Wealth Tax in India- Finance Budget 2015

News & FAQs | By ALOK PATNIA | Last updated on Nov 25, 2015

The Finance Minister Arun Jaitely, for simplifying the tax regime has proposed to abolish the concept of Wealth Tax from India. In his sp...

Addition of unaccounted stock shall not be made if defect in books of accounts not detected

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

In Squar Concern vs. Income Tax Officer, the Tribunal held that the AO should not make addition of unaccounted stock when he failed to de...

Writ petition shall not be filed for the excess deduction as its crdit can be claimed in return

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

In K.S. Venugopalan, Operator, Travancore Cochin Chemicals Ltd. vs. Income-tax Officer, it was held that the excess tax deducted by the e...

Without considering the material facts, profit from shares shall not be taxed as business profit

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

Recently in Acee Enterprises vs. Commissioner of Income Tax, it was held that without considering the period of holding to shares, number...

No capital gain tax if the cost of acquisition is indeterminate

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

In the Commissioner of Income Tax vs. Sambhaji Nagar Co-op Hxg. Society Ltd., it was held that no capital gain should arise on the transf...

Notice u/s 143(2) shall mandatorily be served within time limit prescribed

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

In Commissioner of Income Tax vs. Gitsons Engineering Co., the High Court held that the notice u/s 143(2) shall mandatorily be served wit...

Expense before 1.4.2013shall be disallowed if TDS not deducted

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

Recently in Thomas George Muthoot vs. Assistant Commissioner of Income Tax, it was held that the assessee partner shall deduct TDS on the...

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