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TDS Defaulter Is Liable Only For Interest & Penalty & Not for Tax
Direct Taxes (including International Taxation) | By ALOK PATNIA | Last updated on Oct 5, 2017
Jagran Prakashan Ltd vs. DCIT (TDS) (Allahabad High Court) As per the ITAT.ORG: The assessee, a publisher of newspapers, gave 10-15% trad...
Service Tax on General Insurance Services
GST & Other Indirect Taxes | By ALOK PATNIA | Last updated on Nov 22, 2019
General Insurance Business means fire, marine or miscellaneous insurance business, whether carried on singly or in combination of one o...
All About Partition of HUF
News & FAQs | By ALOK PATNIA | Last updated on Jun 2, 2012
Under the Income Tax Act, divisions have been made in respect of individuals, companies, firms and HUFs. All these different entity have ...
Perquisite in Respect of Medical Treatment
Direct Taxes (including International Taxation) | By ALOK PATNIA | Last updated on Oct 5, 2017
Any perquisite in one form of a medical allowance is typically taxable. On the other hand, reimbursement by an employer of medical expens...
Discounting Charges Is Not Interest under section 194A
Direct Taxes (including International Taxation) | By ALOK PATNIA | Last updated on Oct 5, 2017
CIT vs. Cargil Global Trading Pvt. Ltd (Supreme Court) As Reported by ITAT.ORG: The assessee paid Rs. 3.97 Crores to an associate concern...
Repatriation of Sale Proceeds by NRI outside India
Direct Taxes (including International Taxation) | By ALOK PATNIA | Last updated on Oct 5, 2017
Repatriation outside India – It means buying or drawing of foreign exchange from an authorized dealer in India and remitting it outside...
Retrospective amendments in royalties rejected by ITAT
News & FAQs | By ALOK PATNIA | Last updated on May 31, 2012
As reported by The Economic Times of India: In what is among the first of many legal battles over the controversial retrospective amendme...
100% Depreciation on Sale & Lease Back allowable despite of Tax Avoidance
Direct Taxes (including International Taxation) | By ALOK PATNIA | Last updated on Oct 5, 2017
CIT vs. Cosmo Films Ltd (Delhi High Court) Equipment from the Haryana State Electricity Board (“HSEBâ€) was purchased by the assessee ...
IT industry got the Relief from the Multi-Level TDS
News & FAQs | By ALOK PATNIA | Last updated on May 31, 2012
On  30/05/2012 Finance Minister Pranab Mukherjee said that his ministry has issued a circular which will avoid multi level TDS on softwa...
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