Understanding double taxation on the sale of unquoted shares in India. Learn about the implications and requirements under the Income Tax Act.
Mere fact that assesse had separately debited service tax in it profit and loss account and not credited the same in its profit and loss account could not be the reason or basis for stating that assessee had not credited these receipts in its books as it was to be presumed included in the sales price.
Understand how Capital Gain Tax on sale of House Property works and the eligible exemptions under Income Tax Act.
Shinhan Bank Vs Deputy Director of Income Tax (International Taxation) (ITAT Mumbai) S.90 : Double taxation relief-Foreign Company-discrimination allowed-Company has not made prescribed arrangement-DTAA-India -Korea. [S. 2(22A), Art. 25(1)] We find that, by Finance Act 2001, an Explanation (now known as Explanation 1) was inserted below Section 90, and it was with retrospective effect i.e. […]
Understand the full code of law for reverse charge mechanism under GST. Learn about the definition, applicability, and time of supply provisions for reverse charge.
The article will elucidate upon the law on whistle-blower complaints in India focussing more on their applicability on listed companies and thereafter whistle-blower policy of some of the listed companies and conclude with author’s opinion on the topic.
Stay up to date with the latest regulatory updates for June 2022. Learn about the changes in Company Law and Securities Law that you need to know.
Chit funds are liable to pay service tax only after amendment to definition of word ‘service’ brought in i.e., wef 15-6-2015 as held by SC in UOI v. Margadarshi Chit Funds (P.) Ltd.
Shapoorji Pallonji Bumi Armada Pvt Ltd Vs ACIT (ITAT Mumbai) We have noted that the Dispute Resolution Panel, having rejected the rectification application filed by the Transfer Pricing Officer and having held that there is no mistake apparent in the direction dated 3rd November 2020, have proceeded to rectify these DRP directions nevertheless. Undoubtedly, if […]
Rashmi Infrastructure Developers Ltd. Vs DCIT (ITAT Mumbai) In this case ld. AO however completely ignored all the submissions of the assessee and merely relied on the rejection order of the ITSC and proceeded to tax the on money receipts independently without granting any deduction for expenses incurred against those on money receipts. We find […]
