Corporate Law : Allahabad HC rules no prior sanction needed for FIR against a public servant. Analysis of recent judgment in Ranjeet vs State of U...
Income Tax : Explore the impact of the Finance Act, 2023 on non-resident and not ordinarily resident individuals in India. Changes in tax deduc...
Company Law : According to u/s 149(9) of companies act, an independent director shall not be entitled to any stock option and receive any remune...
Income Tax : Any person being Individual/HUF/Company/Firm/LLP etc. providing any benefit or perquisite whether convertible into money or not, i...
Income Tax : (1) What is Section 197 of Income Tax Act, 1961? Section 197 of the Income Tax Act, 1961 allows the taxpayer the facility of NIL...
Income Tax : Assessee-company had entered into a Purchasing Agreement with M/s. Hindustan Unilever Ltd. whose main business was manufacture and...
Income Tax : Mumbai ITAT deletes penalty under section 271(1)(c) for Eureka Outsourcing Solutions, stating making an incorrect claim does not a...
Income Tax : ITAT Mumbai held that benefit of Article 13(4) of India Mauritius tax Treaty duly available to Mauritius registered assessee, havi...
Income Tax : Read the detailed analysis of the ITAT Chennai order in the case of ST Engineering Electronics Ltd. vs ACIT regarding taxable cont...
Corporate Law : Board is the authority to regulate the functioning of the Insolvency Professionals and the Board comprises of experts in the field...
Income Tax : Get details on new Income Tax Notification exempting specific payments to International Financial Services Centre (IFSC) Units fro...
Karnataka High Court dismissed the writ petition in case of illegal excavation/ transportation of iron ore as discretionary jurisdiction under section 482 of Cr. P.C. cannot be exercised.
Gujarat High Court dismissed the allegation of sale of High Speed Diesel to various private industries at concessional sales tax without complying with the mandatory requisite permission from the Ministry of Petroleum & Natural Gas. The said allegations were dismissed in absence of any evidence.
Explore the impact of the Finance Act, 2023 on non-resident and not ordinarily resident individuals in India. Changes in tax deductions, deemed income, presumptive taxation, TDS rates, and more explained.
Delhi High Court directed the concerned officer to revisit the application preferred under section 197 of the Income Tax Act as the concerned officer simply by-passed the Supreme Court judgement in Engineering Analysis by observing that revenue has preferred a review petition. Such approach of officer is untenable.
According to u/s 149(9) of companies act, an independent director shall not be entitled to any stock option and receive any remuneration by way of a fee provided under section 197 sub section 5, reimbursement of expenses for participation in a board and other meeting and profit related commission as may be approved by the members.
Withholding certificate at a low tax rate rejected for huge outstanding demand, although same were due to pending rectification applications
National Petroleum Construction Company Vs DCIT (Supreme Court of India) Indira Banerjee, J. Leave granted. 2. This appeal is against the judgment and final order dated 20th December 2019 passed by High Court of Delhi dismissing the Writ Petition being Writ Petition (C) No.8527 of 2019 filed by the Appellant against the refusal of the […]
Any person being Individual/HUF/Company/Firm/LLP etc. providing any benefit or perquisite whether convertible into money or not, is liable w.e.f. 1-7-2022 to deduct TDS U/s 194R @ 10% on the value or aggregate value of such benefit or perquisite.
(1) What is Section 197 of Income Tax Act, 1961? Section 197 of the Income Tax Act, 1961 allows the taxpayer the facility of NIL or Lower tax rate deduction of TDS (or TDS exemption). In order to apply for this you need to submit Form 13 to the assessing officer. Also, this section strikes a delicate balance […]
Section 197 of Income Tax Act, 1961 contains the provisions for Lower Deduction Certificate. Generally, where the actual income tax liability on the income of the assessee is less than the TDS which has been deducted by the payer as per Chapter-XVII, then it may cause a major problem of working capital management for the […]
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