Chandani Nawalkha There are close to 32 items of income/payments on which tax is deductible at source (TDS) and 11 items on which tax has to be Tax collected at source (TCS). However this position has now been changed after introduction of new sub section (1H) in Section 206C of the Income Tax Act vide […]
In this article, an attempt is made as to how to comply with provisions related to TCS of section 206C1G(a) of Income Tax Act 1961 in respect of remittance under LRS.
The doctrine of mutuality is a doctrine derived from the theory that a person cannot make a profit from himself. This doctrine is generally applicable in the case wherein a group of people form an association and pool in their surplus income in the common fund of the association. The fund that is collected in this pool is used in furtherance of the benefit of the members, depending on the nature of the association.
Unarguably, having your own brand and developing it is one of the best things you could do to have a prosperous business and thus protecting the brand is also pertinent which could be done through registering your brand as a trademark with the appropriate authority. Registering a trademark is easier said than done as it’s […]
In the wake of the continuous disruption caused by the COVID-19 pandemic and as a result of various requests received from the businessmen and entities registered under the GST regime. The government has extended by a month the deadlines for furnishing annual returns for 2018-19 under the goods and services tax (GST) regime through the way of the circular. It stated “After the […]
The CBDT has announced certain key changes in the income-tax provisions for certain payments and expenses, which shall be applicable from Oct 1st, 2020, for facilitating ease for the assesses and taxpayers for the Act. Many of the taxpayers, investors, depositors, and consumers will get affected by the new provisions such as changes in key timelines to file revised (ITRs) and new […]
In the wake of the continuous disruption caused by the COVID-19 pandemic and as a result of various requests received from the businessmen and assesses under the Income-Tax Act 1961. The Central Board of Direct Taxes (CBDT) on September 30 prolonged the last date for filing belated and revised ITRs for Assessment Year 2019-20 from September 30, 2020, to November […]
The nation’s most complex indirect taxation system became one of the biggest taxation reform systems and came in the form of GST in India. The Indian economy has got a lift with the cascading effect of GST within the long term. The successful GST implementation with a unified tax structure across diverse Indian regions felt […]
The issue under consideration is whether the writ petition filed against the order of DRP rather than first go for appeal before tribunal is justified in law?
Director Of Income-Tax International Taxation Vs Intel Capital (Cayman) Corporation (Karnataka High Court) HC: Capital gain on conversion of FCCBs into shares would be determined by adopting conversion price prevailing at BSE or NSE on date of conversion Conclusion: AO was not justified in computing capital gains by adopting the cost of acquisition at Rs. 873.83 […]
