Income Tax : The article explains how Section 80M applies only to domestic dividends, leaving foreign subsidiary dividends fully taxable in Ind...
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 : Denial of the 15% rate through summary processing was held invalid. Eligibility under section 115BAB requires examination and hear...
Income Tax : Professional and technical advisory services rendered from India to foreign clients in connection with overseas securities offerin...
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...
Salient Features on Deduction us 80M with other ancillary aspects of the Income Tax Act, 1961 Amidst high expectations the Finance Bill, 2020 was presented by Hon’ble Finance Minister before The House of Parliament on 1st February 2020. The Finance Bill, 2020 proposes 104 amendments including Re-Taxation of Dividend Income in the hands of Recipient […]
A. Existing Provisions relating to dividend taxation: (i) Tax implication in the hands of company: Under the existing laws, even though dividend constituted income in the hands of the shareholders, the tax on such dividend was payable by the company which declared dividend, @ 15% of the gross dividend under section 115-O (plus surcharge and […]
1) Deductions u/s 80M is a Deduction not an exemption. The very basic difference between exemption & deduction is that losses from the sources of income which is otherwise exempted had no tax treatment & however losses from a income which a allowed as deduction shall have tax treatment in accordance with the provisions of […]
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 […]
