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Jayya Bhatia

Latest Posts by Jayya Bhatia

Share buy back can be made at a price lower than FMV or Book Value: ITAT

December 15, 2018 39105 Views 0 comment Print

Here it clearly states that the shares should be a property of the recipient company. To become known as a property the shares, in such a case, should be of some other company and not of its own; because own shares cannot become property as they shall be treated as stock.

Statement of Financial Transactions Sec 285BA of Income Tax Act, 1961

April 27, 2018 69483 Views 4 comments Print

Statement of Financial Transaction (SFT) I. Introduction In order to keep a track of the high value transactions undertaken by the taxpayers, a new Form 61A under Sec 285BA was introduced w.e.f 1st April, 2004 vide Notification No. 182/2005, dated 11/07/2005. This section required reporting persons to furnish Annual Information Return (AIR) in respect of […]

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