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.
Direct Taxes (including International Taxation) | By ALOK PATNIA | Last updated on Oct 5, 2017
Any amount due to or received, whether in lump sum or otherwise, by an assessee from any person before his joining any employment with th...
Direct Taxes (including International Taxation) | By ALOK PATNIA | Last updated on Oct 5, 2017
Under the Income Tax Act, 1961, the owner of a house property (consisting of any building or land appurtenant thereto) is taxed on the in...
Direct Taxes (including International Taxation) | By ALOK PATNIA | Last updated on Oct 5, 2017
A receipt is taxable if it is of the nature of income. But receipts which are of capital nature are generally not taxable. The basic sche...
Direct Taxes (including International Taxation) | By ALOK PATNIA | Last updated on Oct 5, 2017
The taxability of various non-residents artist or performer in India and the facts and circumstances of each event is needed to consider....
Direct Taxes (including International Taxation) | By ALOK PATNIA | Last updated on Oct 5, 2017
National Savings Certificates (NSC), Kisan Vikas Patra (KVP) and Indira Vikas Patra (IVP) will also be considered as “capital assetsâ€...
Direct Taxes (including International Taxation) | By ALOK PATNIA | Last updated on Oct 5, 2017
Section 10(38) of the Income Tax Act, 1961 provides that long term capital gains arising from transfer of any equity share of a company o...
Direct Taxes (including International Taxation) | By ALOK PATNIA | Last updated on Oct 5, 2017
Mostly Gratuity is received as retirement benefits by the employee for rendering long and unblemished service. Gratuity received is added...
Direct Taxes (including International Taxation) | By ALOK PATNIA | Last updated on Oct 5, 2017
Residential status has considerable bearing for charging of Income Tax. Based on residence, a person can be Resident and Ordinarily Resid...
Direct Taxes (including International Taxation) | By ALOK PATNIA | Last updated on Oct 5, 2017
Any prescribed special allowance or benefit other than perquisites specifically granted to meet expenses wholly, necessarily and exclusiv...