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Join our free webinar on July 7 at 5 PM for insights into 10 recent High Court income tax judgments favoring assessees. Expert analysis by CA Dipak Dama.
The Income tax laws have various restrictions on payment in cash and receipt of money in cash. Some restrictions apply to those engaged in business or profession and some restrictions apply to all. It is important for all of us to understand these restrictions Restrictions on Cash Transactions under Income Tax Laws so as to […]
Finance Lease As per Accounting Standard 19 (Leases): Definitions ♣ A lease is an agreement whereby the lessor conveys to the lessee in return for a payment or series of payments the right to use an asset for an agreed period of time. ♣ A finance lease is a lease that transfers substantially all the […]
Second revision u/s 263 quashed by ITAT holding not permissible on the same subject matter on which specific direction given by First PCIT have been complied by AO. Doctrine of merger applied.
CIT Vs Archean Granites Private Ltd. (Madras High Court) The purpose of the amendment made by the Finance Act, 2010 is to solve the anomalies that the insertion of section 40(a)(ia) was causing to the bona fide tax payer. The amendment, even if not given operation retrospectively, may not materially be of consequence to the […]
Section 92A (1) of the act provides that two enterprises shall be treated as Associated enterprises only when one of the enterprises participates in management, control or capital of the other enterprise.
Stay updated with the latest tax updates from CBDT. Learn about the one-time relaxation for verification of tax returns and clarification on TDS payments in cash.
The issue under consideration is whether the addition on the income from foreign asset earned through the retirement plan mentioned in FA schedule is taxable in India or not?
Under the GST regime, assessees are required to obtain registration under the GST law based on their aggregate turnover. There is a threshold exemption provided to all taxpayers (suppliers of goods and services). If the aggregate turnover exceeds such threshold limit, registration under GST is mandatory. Controversy over what to be included in aggregate turnover […]
1. Now Banks can’t open current accounts for borrowers who have a cash credit account with any other bank. 2. Banks with over 10% exposure can open CC/OD accts; other lenders can have collection accounts; but have to debit money only to CC/OD accounts of banks that have more than 10% exposure to borrower
An employee is the key of the success of every organization and every employee deserves to be compensated for the efforts made by them to make the organization successful in the competitive market and the issue of Sweat Equity shares and ESOP is the best way to compensate them also in order to motivate the […]
