Income Tax : A look at what constitutes as Income on Indian soil and what is not from the perspective of the IT department. The IT department d...
Income Tax : It is obvious that the TDS provisions are going to be expanded day by day even in the direct Tax Code era. In the process to recov...
Income Tax : 1. Agricultural Income in India is Exempt from Income Tax u/s 10(1) of Income Tax Act, but agricultural income from outside India...
Income Tax : In general the perception is that income of Co–operative Societies is not chargeable to tax and therefore many societies do not ...
Income Tax : In this article, the proposed amendments by The Finance (No. 2) Bill, 2009 relating to sections 56(2), 57, 145A, 271(1) Explanatio...
Income Tax : The interest paid on delayed compensation to land owners by companies or entities engaged in the creation of Special Economic Zone...
Income Tax : In the present case, the dispute relates to the special deduction allowable under Section 80-IA contained in Chapter VI-A. Relevan...
Income Tax : Searches conducted by the Income Department are important means for unearthing black money. However, under the scheme before inser...
Income Tax : As the facts indicate the holding company has advanced funds to the assessee company in 1998 which was received as share applicati...
Income Tax : Notification No. 74/2009 & Notification No. 75/2009 - Income Tax Section 120(1) and (2) of the Income-tax Act, 1961 - Jurisdictio...
As the facts indicate the holding company has advanced funds to the assessee company in 1998 which was received as share application money, later on transferred to unsecured loan. The amounts were utilised in investments and the incomes thereon were offered under the head ‘capital gains’ and not as ‘business income’.
The interest paid on delayed compensation to land owners by companies or entities engaged in the creation of Special Economic Zones, industrial parks and infrastructure developments,and payments by electricity distribution companies to transmission line owners,will now attract tax . The Central Board of Direct Taxes has also issued instructions to take all returns filed by […]
1. Agricultural income: Any income which you receive as income from any agricultural activity is deemed as not included in total income. If your father is into agriculture and he gives you a part of the income as a gift, then you don’t need to pay tax on it, provided, your father files his tax […]
