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taxation

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Taxation of Debt Funds

Income Tax : Explore the changes in taxation of debt mutual funds pre and post April 2023. Learn about impacts, benefits, and strategies. Inves...

March 29, 2024 7131 Views 0 comment Print

Korean taxation: Evolution over the decades

Income Tax : In our tribute to top 25 GDP nations of the world, South Korea has shown a remarkable story to be written in golden letters. Like ...

December 28, 2021 2490 Views 0 comment Print

Taxation of Co-Operative Society

Income Tax : Section 80P: Deduction in respect of Income of Co-operative Societies In case of all co-operative societies, except co-operative b...

October 23, 2021 114300 Views 2 comments Print

Taxation of Mutual Fund SIP

Income Tax : Arjun (Fictional Character): Krishna, nowadays more and more people are making investments in mutual funds through SIPs? Krishna(F...

October 18, 2021 91593 Views 2 comments Print

Taxation of Political Parties

CA, CS, CMA : Understand the taxation rules for political parties. Learn about the conditions for excluding certain incomes and maintaining prop...

October 16, 2021 10800 Views 0 comment Print


Latest News


Corporate India wants no change in tax rates in 2012-13 Budget

Income Tax : Reeling under the impact of global slowdown and a high interest rate regime, India Inc on Monday demanded that tax rates be retain...

February 8, 2012 801 Views 0 comment Print

India negotiating changes in DTAA with Mauritius – Pranab Mukherjee

Income Tax : Finance Minister Pranab Mukherjee today said the government is negotiating changes in a tax treaty with Mauritius, the country whi...

June 30, 2011 663 Views 0 comment Print

5 crore special coins to mark 150 years of taxation

Income Tax : Five crore commemorative coins of Rs 5 denomination, unveiled recently to celebrate 150 years of taxation, will be minted for publ...

April 1, 2011 1315 Views 0 comment Print

India signs tax information exchange pacts to avoid tax evasions

Income Tax : India signed Tax Information Exchange Agreements (TIEA) with various countries to avoid tax evasions and fiscal frauds such as mon...

February 25, 2011 807 Views 0 comment Print

VAT refund claims to be cross-checked – Sanjay Bhatia

Goods and Services Tax : The Maharashtra Sales Tax department is taking steps to apply more caution while disposing of VAT refund applications following di...

November 23, 2010 672 Views 0 comment Print


Latest Judiciary


If certain activities are not really services but more in the nature of stewardship/shareholder activities, the amounts cannot be taxed in India in the absence of a permanent establishment (PE)

Income Tax : The applicant is a US-based manufacturer engaged in manufacturing of engineering goods and is also an R&D-based service provider. ...

December 5, 2009 2952 Views 0 comment Print

Confirmation of addition by tribunal does not mean concealment of income or inaccurate furnishing of particulars of income

Income Tax : The penalty proceedings and the assessment proceedings both are different. Explanation 1to section 271(1)(c) in respect of any fac...

November 24, 2009 5612 Views 0 comment Print

Section 14A of IT Act applicable in respect of share of profit from partnership firm

Income Tax : A partnership firm is a separate entity than that of its partners under the Income-tax Act and therefore, partners vis-à-vis part...

November 12, 2009 11967 Views 0 comment Print

Reopening under section 147 by the AO on the same set of facts, without there being any additional information, can only be considered as change of opinion

Income Tax : As can be seen from the above the adjustment made by the assessee is according to the provisions of the Act. Since both the indust...

November 1, 2009 430 Views 0 comment Print

If the Assessing Officer has made the assessment by making such inquiries as he deemed fit, the order cannot be termed as erroneous

Income Tax : I have duly considered the rival contentions and the material en record. The perception of the CIT that the profit is low prompted...

October 20, 2009 973 Views 0 comment Print


Latest Notifications


Due Date for MVAT audit in form 704 for financial year 2008-09 extended to 31st March 2010

Goods and Services Tax : Representations from various Trades and Associations have been received with a request to extend the due date for submission of Au...

January 28, 2010 6503 Views 0 comment Print

Taxation of Services Provided from outside India and Received in India

Service Tax : Legal Consultancy Services provided from outside India, in relation to immovable property shall be deemed to be import of service...

October 1, 2009 1302 Views 0 comment Print

Notification about composition Scheme for Drug Retailers

Goods and Services Tax : In exercise of the powers conferred by sub-section (1) of section 42 of the Maharashtra Value Added Tax Act 2002 [Mah IX of 2005] ...

November 27, 2008 2972 Views 0 comment Print

Securities lending/borrowing Scheme of Securities and Exchange Board

Income Tax : CIRCULAR NO-2/2008-Income Tax Securities and Exchange Board of India (SEBI) vide circular No.-MRD/DoP/SE/Dep/ Cir14/2007 dated 20/...

February 22, 2008 1120 Views 0 comment Print

Procedure for refund of TDS U/s. 195 to person deducting tax- reg

Income Tax : CIRCULAR NO. 7/2007-Income Tax The Board had issued Circular No. 790 dated 20th April, 2000, laying down the procedure for refund ...

October 23, 2007 24616 Views 0 comment Print


Latest Posts in taxation

Taxation of Debt Funds

March 29, 2024 7131 Views 0 comment Print

Explore the changes in taxation of debt mutual funds pre and post April 2023. Learn about impacts, benefits, and strategies. Invest wisely for optimal returns.

Korean taxation: Evolution over the decades

December 28, 2021 2490 Views 0 comment Print

In our tribute to top 25 GDP nations of the world, South Korea has shown a remarkable story to be written in golden letters. Like any Asian country, this lateral part of the century 2000 along with the next one naturally belongs to this quality obsessed nation. Luckily, I came across its taxation in a […]

Taxation of Co-Operative Society

October 23, 2021 114300 Views 2 comments Print

Section 80P: Deduction in respect of Income of Co-operative Societies In case of all co-operative societies, except co-operative banks (excluding a primary agricultural credit society or a primary co-operative agricultural and rural development bank), full deduction is allowable in respect of the following income: A.Where 100% deduction is allowed I 100% of the profits, included […]

Taxation of Mutual Fund SIP

October 18, 2021 91593 Views 2 comments Print

Arjun (Fictional Character): Krishna, nowadays more and more people are making investments in mutual funds through SIPs? Krishna(Fictional Character): Arjuna, SIPs i.e., Systematic investment plans are a convenient method of investing in mutual funds in which the investor can invest small amounts periodically. Investors can choose the frequency of their SIP investment as weekly, monthly, […]

Taxation of Political Parties

October 16, 2021 10800 Views 0 comment Print

Understand the taxation rules for political parties. Learn about the conditions for excluding certain incomes and maintaining proper accounts.

Taxation of Shares, Futures And Options

October 1, 2021 95820 Views 4 comments Print

In the previous financial year that is FY 2020, in India, fresh Demat accounts opening jumped to a record high, around 14.2 million fresh Demat accounts have been opened during the year.  This jump is more than three times the number of new accounts opened in FY 2019 (4.70 million accounts).  The accounts are not […]

Taxation & Other Benefits Available To Startups

September 5, 2021 4086 Views 0 comment Print

In continuation of the previous article where the eligibility of Startup was discussed, in this article we shall discuss the Taxation & other benefits available to start-ups. Under the taxation benefits, following benefits shall be available to start-ups: I. Deduction Under Section 80-IAC of The Income Tax Act, 1961 (‘Act) II. Angel tax Incentive III. […]

Invocation of Section 68 if Assessee is Opting for Presumptive Taxation

September 5, 2021 22887 Views 4 comments Print

The basic edifice of presumptive scheme u/s 44AD is assessee would not be called to maintain books under the Act and get them audited if profit shown by assessee is otherwise in accordance with prescription of section 44AD of the Act. But maintaining books of account is sine qua non for making addition under section 68. Since […]

Money 2.0 | Taxation of Cryptocurrencies | Income Tax Perspective

August 24, 2021 7404 Views 0 comment Print

As per Investopedia, a cryptocurrency is a digital or virtual currency that is secured by cryptography, which makes it nearly impossible to counterfeit or double-spend. A defining feature of cryptocurrencies is that they are generally not issued by any central governmental authority and thus immune to government interference or manipulation.

Taxation In Case of Export Services under GST

August 21, 2021 43662 Views 3 comments Print

India has always been one of largest exporting countries all around the world. With new emerging policies in India regarding exports, people are moving towards export business which helps our Indian economy and GDP to grow at a faster rate. Here we will talk about various aspects of taxation in case of export of services (including- GST, Transfer Pricing provisions, Income Tax).

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