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Income Tax - Dividend taxation has had a very enriching history in respect of its mode of taxation, collection of taxes and rate of taxation. Further, going by what we have seen in the past couple of years, it looks like the tax authorities, the tax payers and the judiciary have no intention to take the spice out of it, especially when it comes to t...
Read MoreIncome Tax - Tax planning with respect to Dividends for Assessment Years 2020-2021, 2021-2022 and Assessment Year 2022-2013. I hereby try to give a simplified version of Tax planning with respect to Dividends for the Assessment Years 2020-2021, 2021-2022 and Assessment Year 2022-2013. I. Assessment Year 2020-2021. You have to understand the following ...
Read MoreIncome Tax - Buyback of shares is when a company repurchases the shares issued by it from the existing shareholders. The company buys back its shares usually at market value or higher. Companies use buy back as a means to return cash to shareholders and regain ownership. Tax on buyback of shares in India is now regulated by […]...
Read MoreIncome Tax - From 1 April 2020, Dividend Income will be taxable in the hands recipient shareholders as per the slab rate applicable on them. Earlier Dividend Income was exempt in the hands of Shareholders under Section 10(34) and tax on such dividend was payable by the Company under section 115-O. In which Year Dividend is Taxable when […]...
Read MoreIncome Tax - Hello readers, Today I will discuss key changes in ITR Forms for A.Y 2021-22 in simplified form- ♦ Regarding changes in ITR-1- ITR-1 cannot be filed in case tax has been deducted u/s 194N Now what is Section 194N-TDS u/s 194N is required to be deducted if amount of cash withdrawn exceeds – Exceeds Rs […]...
Read MoreGrasim Industries Limited Vs DCIT (ITAT Mumbai) - Grasim Industries Limited Vs DCIT (ITAT Mumbai) By way of this stay application, the assessee applicant has sought a stay on collection/ recovery of tax and interest demands aggregating to Rs 3,786.34 crores in respect of the dividend distribution tax (DDT), and interest thereon, under section 115...
Read MoreJapan International Co-operation Agency (JICA) Vs ACIT (Intl. Taxation) (ITAT Delhi) - Japan International Co-operation Agency (JICA) Vs ACIT (ITAT Delhi) A.O. as well as Ld. CIT(A) have taken a wrong view by holding that the assessee cannot grow tax-free income u/ss 10(34) and 10(35) of the Acts unless additional tax has been paid as per the provisions of Sections 115-0 and 115-R of ...
Read MoreGiesecke & Devrient [India] Pvt Ltd. Vs Add. CIT (ITAT Delhi) - Giesecke & Devrient [India] Pvt Ltd. Vs ACIT (ITAT Delhi) To recapitulate, the DDT is levy on the dividend distributed by the payer company, being an additional tax is covered by the definition of ‘Tax’ as defined u/s 2(43) of the Act which is covered by the charging section 4 of the Act and...
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Grasim Industries Limited Vs DCIT (ITAT Mumbai) -
