ITAT Delhi held that rent is subjected to TDS @ 10% under section 194-I of the Income Tax Act, whereas, Common Area Maintenance (CAM) charges are subjected to TDS @ 2% under section 194C of the Income Tax Act.
ITAT Mumbai held that initiation of penalty proceedings under section 271(1)(c) of the Income Tax Act without informing the charges framed for initiation of the same via statutory notice renders the entire proceeding inacceptable.
ITAT Hyderabad held that the salary received by the assessee in India for the services rendered in USA are not liable to tax in India as article 16 of DTAA would prevail over section 5(2)(a) of the Income Tax Act.
Discover the overriding effect of IBC (Insolvency and Bankruptcy Code) over Income Tax and GST Acts. Supreme Court rulings and legal provisions explained. Stay informed on the legal landscape for corporate debtors.
ITAT Delhi held that disallowances of expenditure on ad hoc basis without specifying particular mistake is untenable and bad in law.
Unravel the complexities of IND AS 12 – Accounting for Income Taxes. Understand its importance, workings, key considerations, and the required disclosures for accurate financial reporting.
In today’s digital age, data protection has become an essential aspect of our lives. The increasing reliance on technology and data storage has made data breaches and cyber-attacks more common than ever before. Therefore, it is crucial for individuals and organizations to stay ahead of evolving data protection.
Whether payment to shareholders out of sale proceeds of a property belonging to the company, to end dispute amongst the shareholder can be cost of improvement for computation of capital gains?
Agreements and contracts are essential in the world of business. They outline the terms and conditions of the relationship between parties involved in a transaction. It is crucial to ensure that these agreements are legally binding, fair, and protect the interests of all parties. This is where agreement vetting comes in.
Explore the recent rules and regulations introduced by the Indian government for the online gaming industry. Learn how these measures aim to promote fair play, player safety, and protect minors. Understand the potential impact on both small and established gaming platforms, fostering responsible gaming practices.
