Income Tax : We know that before Finance Act, 2020 a dividend received from a domestic company is exempt in the hands of shareholders. Because ...
Income Tax : Salient Features on Deduction us 80M with other ancillary aspects of the Income Tax Act, 1961 Amidst high expectations the Finance...
Income Tax : A. Existing Provisions relating to dividend taxation: (i) Tax implication in the hands of company: Under the existing laws, even t...
Income Tax : 1) Deductions u/s 80M is a Deduction not an exemption. The very basic difference between exemption & deduction is that losses ...
Income Tax : In Finance Bill, 2020 (Bill) , one of the Biggest move of the government was abolishing the DDT charged u/s 115-O of the Income Ta...
Income Tax : In Purnasons Pvt. Ltd vs. ITO, ITAT Kolkata rules on the allowance of deductions under Section 80M of the Income Tax Act when divi...
Income Tax : Read the detailed analysis of Kolkata ITAT's ruling allowing deduction under Section 80M of the Income Tax Act for dividends distr...
Income Tax : Delhi High Court held that disallowance under section 80M of the Income Tax Act to the extent of divided distributed to the shareh...
Income Tax : In present facts of the case, the Hon’ble Tribunal held that expenses made pertaining to Club Membership fees shall be allowed a...
Income Tax : ITAT Delhi held that reopening of assessment under section 147 of the Income Tax Act unjustified in absence of failure on the part...
In Finance Bill, 2020 (Bill) , one of the Biggest move of the government was abolishing the DDT charged u/s 115-O of the Income Tax Act , 1961 (the Act). However government has inserted/ amended certain sections to make the Dividend income taxable in the hands of receiver by removing Section 10(34) of the Act. […]
The Union Budget 2020 (‘Budget 2020’) was presented by the Honorable Finance Minister on 1 February 2020. All had set their eyes to witness what this Budget would unveil for reviving Indian economy. At the introduction of the speech, the Honorable FM mentioned that the existing Government wishes to open up vistas for a vibrant […]
