"13 February 2018" Archive

Direct Tax changes proposed in the Union Budget, 2018

Author discusses Major Direct Tax changes proposed in the Union Budget, 2018 in thre parts 1. Amendments having Financial Implication 2. Amendments making changes in compliance procedures and Amendments having making changes in departmental procedure....

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Posted Under: Income Tax |

Cancellation of Registration Certificate under GST

Understanding of Cancellation of Registration Certificate under G.S.T in simple and easy Language....

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Posted Under: Income Tax |

Fees for use of Software is revenue in nature and allowable U/s. 37

D.C.I.T. Vs G.E. Capital Business Process Management Services Pvt. Ltd (ITAT Delhi)

License fee, Connectivity charges and co-ordination charges paid to a US based company GE Capital Corporation for use of 'Vision Plus' software held to be revenue in nature and allowable under section 37...

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MCA notifies 43 Sections of the Companies (Amendment) Act, 2017

The reforms in the Corporate Sector become a reality with the advent of the Companies Act, 2013 which increased the compatibility of Indian Companies on the global platform and raised the standards of Corporate Governance, Investor protection, Accountability and disclosures. ...

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Posted Under: Income Tax |

Companies (Amendment) Act, 2017: An Overview

The calendar year of 2018 started with the enactment of the Companies (Amendment) Act, 2017.The Act brings with it the key changes in the company law especially related to disclosure, compliance, corporate governance, accountability. The entire Companies (Amendment) Act, 2017 is vast area of study. The idea behind this article is to prese...

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Posted Under: Income Tax |

Get a life cover till you reach 100 with Aegon Life iTerm!

Aegon Life Insurance brings you a unique term insurance, a first-of-its-kind product in the country which will provide life cover till you reach the age of 100. Aegon Life iTerm Insurance Plan is intended for individuals seeking financial protection for life, wish to plan a milestone event, a lump sum payout and want to leave […]...

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Posted Under: Income Tax |

Non compete fee is not an eligible intangible asset for depreciation U/s. 32

DCIT Vs. EAC Industrial Ingredients India P. Ltd (ITAT Delhi)

Non compete fee is not an eligible intangible asset as the words similar business or commercial rights have to necessary result in an intangible asset against the entire word which can be asserted as such to qualify for depreciation u/s 32(1)(ii) of the Act which non compete fees lacks...

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“Love”is tax free ?

Valentine's Day (14th February) is the perfect time to express your love in the most extraordinary way. While expressing love and affection to our beloved ones we carry out certain transaction of give and take, are they taxable?...

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Posted Under: Income Tax | ,

Interest u/s 234B / 234C payable on failure to pay advance tax on AMT/MAT

M/s GIE Jewels Vs. Income Tax officer (ITAT Jaipur)

A bench comprising Vijay Pal Rao (JM) and Vikram Singh Yadav (AM) of Income Tax Appellate Tribunal (ITAT) recently declared that Interest u/s 234B of the Income Tax Act can be levied on ground of non-payment of advance tax in respect of Alternative Minimum Tax. ...

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CBI Arrests an ITO While Accepting Bribe Of Rs. 40,000/-

The Central Bureau of Investigation has arrested an Income Tax Officer, Bhadrak (Odisha), while demanding & accepting a bribe of Rs. 40,000/- from the complainant....

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Posted Under: Income Tax |

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