Income Tax Articles

Section 145A of the Income Tax Act

Manoj Pala 23 April 2013 at 12:09

Section 145A shall be substituted for the existing section 145A by the Finance (No. 2) Act, 2009, w.e.f. 1-4-2010: Method of accounting in certain cases. 145A. Notwithstanding anything to the contrary contained in section 145, (a) the

Increasing rate of MAT, Reducing the MAT Credit

Deepak Agrawal 23 April 2013 at 12:09

In the Finance Bill, 2000, the government introduced the new provision u/s. 115JB: The extract of the same from the memorandum to finance bill was as under: The new provisions provide t

Sec. 54F:Judicial Analysis-Investment in more than one units

Deepak Agrawal 22 April 2013 at 11:16

Judicial Position on Exemption u/s. 54F where investment is made in more than one Residential House Property units/adjacent flats/more than one unit on different floors: 1. Section 54F is reproduced as under: Section 54F provides that-

Analysis | Domestic Transfer Pricing

Bhanu Prakash Rao 17 April 2013 at 12:38

Domestic Transfer pricing Widening of scope of Section 40A(2), Transfer Pricing regulations to apply to domestic transactions, (Applicable for the AY 2013-14) Under Section 40A(2) of Income Tax Act, 1961 in case of any transaction with a rela

Is Gross receipt professional income of CA

Rupesh Srivastava 17 April 2013 at 12:38

On 12th April 2013 ITAT bench held that CA professional income, the service tax realised should have been included in the gross receipts unless paid to Government exchequer within the due date of filing of return. Further ITAT rejects assessee clai

All about Gifts

G S Rao 16 April 2013 at 12:53

Introduction: Gifts are generally given by donors to show their love and affection. Sometimes gifts are used as a tool for tax planning. An attempt is made in this article to cover the essentials of a valid gift as per the provisions of the Transf

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/