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Priya Jain

Latest Posts by Priya Jain

Tribunal doubts whether tax treaty benefits can be extended to DDT

June 23, 2021 4479 Views 0 comment Print

ITAT Mumbai expressed doubts on correctness of decisions of coordinate benches on dividend distribution tax (DDT) rate being restricted by treaty provision dealing with taxation of dividends in the hands of shareholders.

Old vs New Income Tax Regime: Which one you should choose?

June 9, 2021 94839 Views 1 comment Print

From Financial year 2020-21, taxpayers (Individuals and HUFs) has an option to choose between Old Tax regime and the new Tax Regime.  The new tax regime is available with lower tax rates and almost zero deductions/exemptions. Here is the quick comparison table between tax rates at different slabs under Old Tax Regime vs. New Tax […]

ITAT allows Tata Trust to surrender Section 12A Registration w.e.f. 20.03.2015

April 6, 2021 3549 Views 0 comment Print

This write up summarizes the decision of the Mumbai ITAT in the matter of R.D Tata Trust (Assessee) wherein Tribunal held that cancellation of Registration granted to the assessee will have effect from the date on which the hearing of First show cause notice was concluded. Facts of the case The assessee trust was constituted […]

Uber India not liable to deduct TDS on payment Made to Driver Partners

March 20, 2021 5310 Views 1 comment Print

It could be safely concluded that UISPL cannot be treated as a’person responsible for paying’ for the purpose of section 194C read with section 204 of the Act, for more than one reason and also the provisions of section 194C of the Act cannot be made applicable thereon.

SC ruling: No TDS on payment of Royalty to Non resident

March 7, 2021 12045 Views 0 comment Print

The Hon’ble Supreme Court on 2nd March 2021 in the case of Engineering Analysis Centre of Excellence Private Limited Vs CIT, put a rest to the contentious issue of tax on Payment by end users or tech companies in India to suppliers abroad on import of software as ‘Royalty’. Let’s understand what was the issue […]

Your take home salary may hit with the NEW WAGE CODE

February 15, 2021 57612 Views 3 comments Print

Yes! You read it right. This article makes an attempt to analyze the Code on Wages (Code) and the impact of the same on take home salary- The Code on Wages has been introduced aiming to streamline and simplify the existing labour laws. It was passed by parliament in 2019. The Code will subsume the […]

No more Depreciation allowed on Goodwill

February 8, 2021 8523 Views 0 comment Print

As the budget 2021 unveiled, it came up with the proposals to boost the economy and certain important proposed amendments. One of the proposed amendments was  ‘No more Depreciation on Goodwill’.

SME Finance For Chartered Accountant Under CLP

February 5, 2021 4548 Views 0 comment Print

SBI in collaboration with the SIDBI & other PSBs developed & adopted Contactless Lending Platform(CLP) for MSME loans. This scheme is especially for CAs who are in practice for at least 5 years. Brief features of the scheme are- Procedure to apply for Loan Loan can be applied under the website sbiloansin59minutes.com. A new Borrower […]

Critique of Companies (Corporate Social Responsibility Policy) Amendment Rules, 2021

February 3, 2021 3546 Views 2 comments Print

Critique of Companies (Corporate Social Responsibility Policy) Amendment Rules, 2021 On 22nd January, 2021 MCA notified Companies (Companies Social Responsibility Policy) Amendment Rules, 2021. Tabular presentation of Amended CSR Rules Rule No. Old Rule New Rule Impact Rule 4 CSR activity CSR implementation Substituted Rule 5 Sub rule 2 CSR committee CSR Committee Only Sub […]

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