Income Tax Articles

Loss on Reduction of share capital is allowable

Saurabh Maheshwari 12 April 2013 at 12:00

IN THE INCOME TAX APPELLATE TRIBUNAL MUMBAI SPECIAL BENCH B MUMBAI Date of Hearing: 16-08-2011 Date of Pronouncement: 30-09-2011 Bennett Coleman & Co. Ltd., Times of India Bldg., Dr. D. N. Road,

Buy Back of Shares: Bye Bye Mauritius

CA. Bikash Bogi 11 April 2013 at 12:05

Mauritius is always a favourite among tourists across the world. However, Mauritius is also famous among worldwide investors for their tax friendly environment. As per an estimate 40% of portfolio inflows in India are coming from Mauritius. Like M

Capital gain exemption by virtue of article 13(4)

Rupesh Srivastava 09 April 2013 at 11:42

Recently ITAT bench held that, Article 13(1) cannot be made applicable to the transfer of shares as assessee has not sold the immovable property or any rights directly attached to the immovable property. Assessee is a company incorporated under th

Understanding Section 10 with latest Case Laws Part - II

Manish Kumar Agarwal 03 April 2013 at 10:56

We had earlier discuss in detail about the concepts of exemption of section 10 along with various case laws earlier in part I. In case you want to refer, the part I, please click on the link below: http://taxbymanish.blogspot.in/

Requirement of PAN by Non-Residents & Tax Consequences

Deepak Agrawal 01 April 2013 at 14:20

NOTE ON REQUIREMENT OF PAN BY NON-RESIDENTS IN INDIA AND TAX CONSEQUENCES: The analysis of the requirement of PAN is made on the basis of following cases: I. Non resident is exempt from tax in India: II. Non resident is liable to ta

Disallowance by I.T. Dept. w.r.t. VAT Hawala Purchase Info

Krunal.J.Davda 29 March 2013 at 11:20

Date - 23/03/2013 IS IT FAIR TO DISALLOW PURCHASES BY THE I. T. DEPARTMENT , JUST ON THE BASIS OF HAWALA INFORMATION RECEIVED FROM THE SALES TAX DEPARTMENT ? Recently the Income Tax Department is sending Show Cause Notices to many Assessee&rsq

Revised Schedule VI

Kamal Garg 26 March 2013 at 12:58

Introduction Old Schedule VI had outlived its utility; Revised Schedule VI effective from 1st April, 2011; Being a statutory format its early adoption is not permitted; Revised Schedule VI has

Understanding Taxation of Salary with latest Case Laws

Manish Kumar Agarwal 26 March 2013 at 11:22

UNDERSTANDING TAXATION OF SALARY WITH LATEST CASE LAWS: The common people who earns his livehood by the way of employment requires to pay

TDS Provisions Applicability

Vandana Saluja 23 March 2013 at 11:31

TDS (Tax Deducted at Source on payment of interest (or any other service fees) to non Banking financial Companies and Public Financial Institutions. Non Banking Financial Institution A Non Banking financial Company is a company registered un

How to register as a legal heir to do e-filing on behalf of deceased

Ganeshbabu K 21 March 2013 at 11:19

User should register as a Legal Heir to do e-Filing on behalf of the deceased. This is a new feature provided for Individual user. A Legal Heir can file Income Tax Return, View Status of Income Tax Return, ITR-V Acknowledgment and other fi