Computation of Fair Market Value [FMV] of Unquoted Equity Shares as per Income-tax (20th Amendment), Rules, 2017 notified vide Notification No. 61/2017, dated 12.07.2017. Sale is applicable With Effec From 01.04.2018 and shall apply to assessment year 2018-19 & subsequent years.
According to Indian Tax Laws, it is an agreement between CBDT and any person, which determines, in advance, the arm’s length price or specifies the manner of the determination of arm’s length price (or both), in relation to an international transaction.
Learn all about the Income Tax Appellate Tribunal. Find out about appealable orders, time-limits, and the composition of the Tribunal.
Finance Act, 2017 inserted a new Section 92CE in the Income-tax Act, 1961 with effect from 1st day of April, 2018 to provide for secondary adjustment by attributing income to the excess money lying in the hands of the associated enterprise.
This article is about Advance Pricing Agreements (APA) provisions. Mainly it will cover the basic meaning of Advance Pricing Agreement, types of Advance Pricing Agreement, objectives of Advance Pricing Agreement and number of Advance Pricing Agreement signed by India. What is an Advance Pricing Agreement (APAs)? According to Indian Tax Laws, it is an agreement […]
Section 295(2) (ha) of the Income Tax Act, 1961 provides that the CBDT (Board) may make Rules for the procedure for granting of relief or deduction, as the case may be, of any income tax paid in any country or specified territory outside India, under Section 90 or Section 90A or Section 91, against Income – tax payable under the said Act.
This article is covering in depth knowledge of various types of Jurisdictions, Various types of Assessments under Income Tax Act, 1961 and details of new system i.e. Jurisdiction-Free Assessment which was introduced from 2016. Jurisdiction is prescribed under Section 124 of the Income-tax Act, 1961 and assessment includes Summary assessment under section 143(1), Scrutiny assessment […]
Learn about the new rules and application process for the registration of charitable or religious trusts. Stay updated with the latest amendments.
To put restriction on the cash transactions & promote digital economy, section 269ST was inserted in the Income-tax Act, 1961 vide Finance Act, 2017 w.e.f 1st April 2017. Article discusses Provisions of Section 269ST which Prohibits receipt of an amount of Rs. 2 lakh or more by a person, Section 271DA which provides penalties for […]
By reading the Preamble of the Fugitive Economic Offenders Bill – 2018, it emerges that the Bill is intended to deter economic offenders from evading the process of prosecution laws by remaining outside the jurisdiction of Indian courts. On 12.03.2018 the Bill has been introduced in the Lok Sabha.
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