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Sanjeev Madan

Latest Posts by Sanjeev Madan

Brief on Black Money (Undisclosed Foreign Income & Assets) & Imposition of Tax Act, 2015

November 16, 2019 3273 Views 0 comment Print

Brief Analysis of Black Money (Undisclosed Foreign Income and Assets) and Imposition of Tax Act, 2015 Basis of charge Undisclosed asset outside India is defined to mean asset (including financial interest in any entity) located outside India, held by assesee in his own name or in respect of which he is beneficial owner, and he […]

Income Tax Relief- Regularization of unauthorized colonies in Delhi

November 16, 2019 1425 Views 0 comment Print

Post Union cabinet approved regularization of 1728 unauthorized colonies in National Capital Territory of Delhi with levy of 0.5% stamp duty (against Stamp duty and transfer duty @ 4% if the vendee is a woman and @ 6% if the vendee is a man), notification 96/2019 dated 11.11.19 provided relief under Income Tax. To curb cash dealings in […]

Tabulation of expenditure incurred on scientific research u/s 35 of Income Tax Act 1961

November 12, 2019 31776 Views 0 comment Print

Tabulation of expenditure incurred on scientific research under section 35 of Income Tax Act 1961- Paid to research association having object of under taking scientific research or university, college or other institutes to be used for scientific research , Paid to research association having object of under taking scientific research or university, college or other […]

Procedure of recovery under Income Tax

November 11, 2019 18327 Views 0 comment Print

Learn about the procedure of recovery under the Income Tax Act and understand the different modes of recoveries available.

Types of trust and its taxation

October 6, 2019 61323 Views 1 comment Print

Types of trust and their tax treatments The plethora of litigation, complex, dynamic and ever changing tax provisions are best way to define trust though law maker also attempted to defined trust as “A trust is an obligation annexed to the ownership of property, and arising out of a confidence reposed in and accepted by […]

Determination & Accounting of Deferred Tax Asset and Liability

December 1, 2018 16929 Views 1 comment Print

IND AS 12, prescribe the accounting treatment of current and future tax consequences. It is possible that recovery of carrying value of assets or settlement of carrying value of liabilities may result into larger or shorter future tax payments. This Standard requires an entity to recognize a Deferred Tax Liability (DTL) and Deferred Tax Asset (DTA), with certain limited exceptions. Income tax includes domestic and foreign taxes.

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