Essential conditions for claiming deduction under section 80E of income tax act, 1961 for Interest on Education Loans: This deduction under section 80E for for Interest on Education Loans is over and above the Rs 1,50,000 deduction allowed under section 80C of Income Tax Act, 1961. 1 Who Can Claim deduction under section 80E ONLY […]
All about Clause 26 of Form 3cd. 1. What does Clause 26 says:- In respect of any sum referred to in clause (a), (b), (c), (d), (e) or (f) of section 43B, the liability for which:- (A) Pre-existed on the first day of the previous year but was not allowed in the assessment of any […]
The revised SHRs apply for AY 2017-18 and two immediately following AYs i.e. upto AY 2019-20. The earlier SHRs were applicable from AY 2013-14 and four immediately following AYs i.e. upto AY 2017-18. For AY 2017-18, the taxpayer can choose from old or new rules whichever are more beneficial.
Marketing activities undertaken by one enterprise not owning the trademark or brand name lead to the creation of marketing intangibles for the legal owner of such trademark or brand name. Indian enterprises having the right to use the brand name owned by their associated enterprises incurs the advertisement, marketing and promotional expenses (AMP Expenses) to get the benefit in the form of increased sales, higher profit etc. This in turns benefit the legal owner of the brand name i.e. associated enterprises.
The Indian Central Board of Direct Taxes (CBDT) has notified the final rules (the rules) for maintaining and furnishing of Transfer Pricing (TP) documentation in the Master File (MF) and Country-by-Country Report (CbCR). Following an inclusive approach when introducing a new and important regulation, the CBDT had
Transfer pricing (TP) regulations have been at the forefront of corporate headlines over the last few years due to the increasing number of controversies resulting out of tax structuring by multinational companies (MNE). What makes the topic both contentious and interesting is that regulators view the various techniques applied to intercorporate transactions as purportedly planned with the intent of achieving benefits of comparable labor cost and tax advantage at the cost of a countries tax revenues.
Overall maximum managerial remuneration and managerial remuneration in case of absence or inadequacy of profits ♦ The total managerial remuneration payable by a public company, to its directors, Including managing director and whole-time director, and its manager in respect of any financial year shall not exceed 11% of the net profits of that company for […]
Details of Returns to be filed under The Employment Exchanges (CNV) Act,1959 & Rules, The Maternity Benefit Act, 1961, The Factories Act, 1948, The minimum Wages Act, 1948, The Payment of Wages Act,1936 & related Mines Rules, The Contract Labour 9 (R&A) Act, 1970 & Rules, The Apprenticeship Act, 1961, The Payment of Bonus Act, […]
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