Pre Budget Memorandum 2018-2019 By: The Institute of Cost Accountants of India- The CMA Professionals would ethically drive enterprises globally by creating value to stakeholders in the socio economic context through competencies drawn from the integration of strategy, management and accounting
Section 115JD provides for tax credit in respect of alternate minimum tax. The provisions of section 115JC are applicable to persons other than a company i.e. individual, HUF, Partnership firm including LLPs, AOPs etc.
DCIT Vs Smt. Sriram Satyavathi (ITAT Visakhapatnam) The fact that the company M/s. Vijetha Constructions has taken the advances for sale of flats was substantiated by the registered sale agreements. The same cheque No. and the dates were mentioned in the promissory note and the sale deeds which fortifies the assessee’s contention that the promissory […]
Nothing contained in section 11 and 12 shall operate so as to exclude from the total income of the previous year of the person in receipt thereof, any anonymous donation referred to in section 115BBC on which tax is payable in accordance with the provisions of clause (i) of sub-section (1) of that section.
At present, long term capital gain is taxed @ 20% in pursuance of the provisions of section 112. Whereas, in case of individual assessee having normal income, the rate of tax upto Rs. 5,00,000 is only 10%.
Both Customs and TP require taxpayer to establish arm’s length principle with respect to transactions between related parties. Objective under respective laws is to provide safeguard measures to ensure that taxable values
One of the tax consequences of a country or area being notified as NJA is that payments to persons located in that NJA would be subject to a higher withholding @ 30%. The relevant provision which provides for this implication i.e., section 94A(5)
4. The number of Appreciation Certificates awarded in one year shall not exceed forty five but if the President considers that special circumstances in any one year justify the award of the Appreciation Certificates in excess of the forty five, the number shall not exceed fifty.
Currently, Many government/semi-government authorities (viz. Mining Department) have been demanding TCS of earlier years for which assessments have already been completed, since they had not collected the TCS in the those relevant years.
Central Government hereby notifies for the purposes of section 10(46) the Central Registry for Securitization Asset Reconstruction and Security Interest of India, a body set up under the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest (SARFAESI) Act, 2002, in respect of the following specified income arising to that body, namely:—
