Sec 10(34A) "any income arising to an assessee, being a shareholder, on account of buyback of shares (not being listed on a recognized stock exchange) by the company as referred to in section 115QA"
A short analysis on Section 115BAB of Income Tax Act
Form to be used by a taxpayer to file the Income-tax return for the assessment year 2022-23
Government wants that people use banking system and in the same direction some new provisions added in the Finance Act, 2017 to prevent black money. We will discuss all the provisions related to cash transactions, exceptions of the same and consequences of them as well.
Dividend is taxable u/s 56 in hands of shareholder from 1-4-20 and exemption u/s 10(34) has been removed.
Important judgments on Income Tax, GST, IBC and other corporate laws has been listed in this article
As we are aware that Income of a resident in India from sources anywhere in world will be taxable under provisions of Income Tax Act, 1961. In case a person, who is a non-resident in India during previous year and he earns any income from India, then taxability of that Income will be decided on the basis of source of income as well as residence of assessee.
When a loan taken for acquiring a depreciable capital asset or a part of the purchase price of such capital asset is waived in a year subsequent to the year of acquisition,
CAG has prepared a report on Assessments Relating to Agriculture Income which was presented in the 49th report of the Public Accounts Committee which clearly stated that the rich farmers whose agriculture income exceeds Rs 10 lakh per year limit, will face stricter scrutiny of agricultural income.
EPFO ISSUED CIRCULAR CLARIFYING TDS ON INTEREST ON PF CONTRIBUTIONS IN EXCESS OF THE THRESHOLD LIMIT
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
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