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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Capital gain on buyback of shares held to be taxed as dividend

News & FAQs | By ALOK PATNIA | Last updated on May 14, 2012

Now it’s common that any foreign investments coming into India are planned in a manner to lower the tax liability in India as possible....

Parameters to determine shares gain treated as Capital Gain or business profits

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

CIT vs. Sahara India Housing Corporation Ltd (Delhi High Court)  Gains from sale and purchase of securities/ shares, offered as “capit...

Govt. may get estimates of Black money by September end

News & FAQs | By ALOK PATNIA | Last updated on May 12, 2012

Indian Government may be able to identify an estimate of black money floating in its economy by end September. As per The Economic Times ...

No penalty u/s 271(1)(c) inspite of concealment, if s. 115JB book profits assessed

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

CIT vs. Nalwa Sons Investment Ltd (Supreme Court) The assessee filed a Return of Income (ROI) declaring loss of Rs.43.47 crores under the...

Taxability of Design Services Under Service Tax

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

Design Services under service tax includes services provided in relation to designing of furniture, consumer products, industrial product...

How to Convert Partnership Firms into LLPs?

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

To convert partnership firm into limited liability partnership (LLP) one needs to comply with various requirements. The procedure for con...

Bipa does not cover Taxation Issues

News & FAQs | By ALOK PATNIA | Last updated on May 12, 2012

International taxation issues didn’t come under the Bilateral Investment Promotion and Protection Agreement i.e., Bipa between India an...

No disallowance u/s 40(a)(ia) resultant of 194C default, if TDS paid before ROI due date

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

ACIT vs. Shri M.K. Gurumurthy (ITAT Bangalore) The assessee made payments to contractors from April 2007 to February 2008 for AY 2008-09....

Holding tax rates of Dhanbad Municipal Corporation may be reviewed

News & FAQs | By ALOK PATNIA | Last updated on May 11, 2012

Holding tax rates fixed years ago of Dhanbad municipal corporation (DMC) may be reviewed, hinted by the Dhanbad town administrator. As pe...

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