CA, CS, CMA : Learn the correct way to calculate and apportion depreciation using the Written Down Value method for accurate scrap value over an...
Income Tax : Explore allowable tax deductions for AY 2025-26, covering salaries, house property, business, and personal expenses. Maximize your...
Income Tax : Rates of depreciation applicable for income tax purposes from assessment year 2003-04 to 2025-26. This guide includes rates for ta...
Income Tax : Learn how to optimize corporate tax planning through depreciation. Explore key provisions, asset considerations, and methods for m...
Income Tax : Understand the recent changes in tax audit responsibilities imposed by the Central Board of Direct Tax in India. Explore amendment...
Company Law : Key Features of Fixed Asset Management Tool with Depreciation Calculator for Companies ♦ Line wise SLM and WDV Depreciation as p...
Income Tax : Addressing the concerns raised by Agriculture Produce Market Committees (APMCs), it has been decided not to levy the 2% TDS on cas...
Income Tax : The proviso to section 32 provides that the aggregate deduction, in respect of depreciation of buildings, machinery, plant or furn...
Corporate Law : Bombay High Court held that there is no employer-employee relationship prior to the year 2018 hence industrial court doesn’t hav...
Goods and Services Tax : Delhi High Court held that department cannot possibly seek to justify the retention of refund claim on account of its having been ...
Income Tax : ITAT Mumbai held that assessee is not entitled for concession rate of tax of 20% provided under section 112(1) of the Income Tax A...
Income Tax : ITAT Mumbai held that depreciation under section 32 of the Income Tax Act on the right to collect toll on the roads developed on B...
Income Tax : ITAT Delhi held that even though assessee is not the owner of the Airport Metro Express Line Project it has right to collect fare ...
Income Tax : CBDT inserts new Income Tax Rule 8AC -Computation of short term capital gains and written down value under section 50 where deprec...
Income Tax : Income-tax (9th Amendment) Rules, 2019 – Additional depreciation on motor cars and motor vehicles shall be allowed in certai...
Income Tax : A reading of the agreement between STL and the assessee clarifies that a specific amount, i.e., Rs.9 Crores was paid by the assess...
Income Tax : Notification No. 43/2014-Income Tax S.O. 2399(E).—In exercise of the powers conferred by Section 295 read with Section 32 of the...
Goods and Services Tax : In view of this situation, it is necessary that the procedure for the issuing of such certificates should be standardized. Such ce...
Bombay High Court held that there is no employer-employee relationship prior to the year 2018 hence industrial court doesn’t have jurisdiction to entertain complaint of unfair labour practice. Thus, writ allowed.
Delhi High Court held that department cannot possibly seek to justify the retention of refund claim on account of its having been deposited voluntarily or being barred by limitation. Accordingly, refund claim allowed.
ITAT Mumbai held that assessee is not entitled for concession rate of tax of 20% provided under section 112(1) of the Income Tax Act on the short term capital gain computed under section 50 of the Income Tax Act.
ITAT Mumbai held that depreciation under section 32 of the Income Tax Act on the right to collect toll on the roads developed on BOT basis is not eligible.
ITAT Delhi held that even though assessee is not the owner of the Airport Metro Express Line Project it has right to collect fare from commercial operations. Thus, depreciation is eligible on such intangible assets as per provisions of section 32(1)(ii).
Kerala High Court held that depreciation allowance is deemed to be business loss for section 71 and 72 and can be set off only against profits or gains of business and not against income from any other sources.
Learn the correct way to calculate and apportion depreciation using the Written Down Value method for accurate scrap value over an asset’s useful life.
Penalty under section 270 A was not leviable as the nature of addition/disallowance were not in the nature of misreporting or misreporting income of assessee and assessee had paid the demand within 30 days and filed the required form no. 68 and that form was procedural in nature.
One Time Settlement (OTS) schemes were launched by the Telangana Government to enable the tax payers to settle the disputed tax amounts under the Telangana Value Added Tax Act (VAT Act) and the Central Sales Tax Act (CST Act).
Gujarat High Court held that denial of benefit of lower rate of tax u/s. 115BAA of the Income Tax Act on technical ground of mere delay in filing of Form 10-IC unjustified as all the other conditions duly satisfied.
