taxation system articles

Comprehending Residential Status

Under the Income Tax Act, 1961, the taxability of an assessee is reliant on the residential status of the assessee. Section 6, which governs the determination of an assessee’s residential status for the relevant assessment year has categorised an assessee into below mentioned four specific sub categories:...

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Posted Under: Income Tax |

Taxation of non-compete fees

In the era of globalisation, the world of Mergers & Acquisitions is witnessing rapid growth and the race amongst corporates to expand organically and inorganically is seeing significant momentum across the globe. Strategies that focus on core businesses or diversify into new businesses and markets, or even hive-off non-core businesses...

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Posted Under: Income Tax |

Taxation of Mutual Funds

Mutual Funds are like a department store where many products are on display and every one can get product suitable to his needs, risk appetite, investment horizon.  From product for parking your overnight funds to investing for decades, mutual funds can cater to needs to all investors. As the products offered by mutual fund houses [&hell...

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Posted Under: Income Tax | ,

Understanding Over Taxation and Ways to reduce it

A Company is a separate legal entity from its shareholders. Under S.2 (7) of the Income Tax Act, all entities can be shareholders. For example, sometimes Companies themselves are shareholders in other companies and draw Inter Corporate Dividends from the other. ...

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Posted Under: Income Tax |

Taxation of Bitcoin and Other Crypto Currencies in India

To understand the tax implications of Bitcoin and Other Crypto Currencies in India, the following points need to be understood under the context of the Income Tax Act: 1) Business Income – These are the profits and gains received from any business or profession carried on by the tax payer at any time during the […]...

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Posted Under: Income Tax |

Taxability of ESOP for Assessment year 2010-2011

Employee stock options (ESOPs) is a significant employer-granted benefit that too is subject to the above FBT /perquisite-based taxation system. In fact, it almost seems as if the authorities cannot quite make up their minds as to how they wish to tax shares given to employees by their employers on a concessional basis. Having been subjec...

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Posted Under: Income Tax |

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September 2021