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Grant of Bail by Kolkata High Court on service tax evasion before May 2013
Direct Taxes (including International Taxation) | By ALOK PATNIA | Last updated on Oct 5, 2017
While Bombay HC has refused to grant bail application pending payment of Service tax for service tax evasion for the period starting befo...
Scope of exemption for Capital Gains is not limited to acquisition of one house
Direct Taxes (including International Taxation) | By ALOK PATNIA | Last updated on Oct 5, 2017
Scope of section 54 is not limited to acquisition of one house only. The High Court of Karnataka allowed the exemption for capital gains ...
Mumbai high court says High End Companies in ITES sector comparable to Low End ones
Direct Taxes (including International Taxation) | By ALOK PATNIA | Last updated on Oct 5, 2017
The Mumbai bench Companies in ITES cannot be classified into low-end BPO services and high-end KPO services for comparability analysis bu...
Why is 31st March so crucial for Taxes ?
Direct Taxes (including International Taxation) | By ALOK PATNIA | Last updated on Oct 5, 2017
Each time at the end of a Financial Year the management of companies and other businesses are very stressed with the closing of the books...
Setting Up a Venture Capital Fund in India
Corporate Law & Intellectual Property Rights | By ALOK PATNIA | Last updated on Oct 5, 2017
A very important decision or step for a start-up is funding its operations. A start-up is a bundle of exuberant energy and uninhibited id...
Period of existence of two offices cannot be clubbed for determining the existence of PE
Direct Taxes (including International Taxation) | By ALOK PATNIA | Last updated on Oct 5, 2017
The Income Tax Appellate Tribunal of Delhi ruled in favor of the assessee for the dispute in regard to existence of a permanent establish...
Expenses allowed as deduction even if income is exempt from taxes
Direct Taxes (including International Taxation) | By ALOK PATNIA | Last updated on Oct 5, 2017
The High Court of Mumbai on 3rd March 2014 ruled in favor of the assessee, and allowed the investment of borrowed funds in Indian company...
Indexation can be a way to minimize taxes
Direct Taxes (including International Taxation) | By ALOK PATNIA | Last updated on Oct 5, 2017
On selling of a capital asset one needs to pay taxes on it under the head ‘capital gains’. However, indexation benefit is entitled th...
Renting properties by NRI in India
Direct Taxes (including International Taxation) | By ALOK PATNIA | Last updated on Oct 5, 2017
An NRI can rent out property that he owns in India. The rent proceeds can be credited to the NRE or NRO account. Rent proceeds received i...
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