Income Tax Articles

Place of effective management: Critical analysis

Posted by CA Rohit Gupta 07 March 2015 12897 Views

PLACE Of EFFECTIVE MANAGEMENT : Corporate Tax Residence in India: Analysis and Safeguards The India Budget,2015 has proposed the amendment of Section 6 of the Income Tax Act which alters the conditions under which a company is resident in India by in

International Tax Update: Budget 2015

Posted by CA Rohit Gupta 01 March 2015 9117 Views

Budget 2015 introduced in India on 28.02.2015 has made significant changes as far as international taxation are concerned. Major ones include:- Reduction in rate of tax on non-residents for royalties/fees for tec

TDS u/s 195: Reimbursement of Expenses

Posted by CA Rohit Gupta 27 February 2015 182936 Views

Taxability of Reimbursement of expenses has always been a contentious issue. In most of the cases, assessee get away with non-taxability of reimbursement of expenses on the plea of no profit element. However, in some cases, even without profit elemen

TDS U/S 195- Reimbursement of salary of seconded employees

Posted by CA Rohit Gupta 26 February 2015 21527 Views

Secondment of employees by foreign parent company to Indian subsidiary is a regular feature considering the requirements to meet their global standards of quality and to ensure proper functioning and assistance to Indian Subsidary Companies. However,

Section 194DA clarification needed

Posted by Rajesh Kumar Gupta 17 February 2015 181617 Views

Applicability of various provisions of Income Tax Act 1961 to Insurance policies: Also a debate over newly inserted section 194DAA brief DescriptionWith a view to inculcate a habit of thrift, GOI, has through Income Tax Act 1961 and various Finance A

Black money

Posted by CA Raj K Agrawal 16 February 2015 37048 Views

Black money refers to funds earned on which income and other taxes have not been paid. This money is largely accumulated from: 1. Lower income declared by Businessman in Income tax returns. 2. Money of Politicians & Government official created fr

Cricket and income tax, what is similarity, you must know it

Posted by CA Umesh Sharma 16 February 2015 20117 Views

KARNEETI Part 76Cricket and Income Tax, what is similarity, you must know it.Arjuna (Fictional Character): Krishna, the 11th Cricket World Cup has been started in Australia. In these days 14 countries will compete against each other. In Cricket there

Taxation of heriditary LIC insurance commission

Posted by sivadas chettoor 10 February 2015 30427 Views

TAXATION OF HERIDITARY LIC INSURANCE COMMISSION- A STUDYSIVADAS CHETTOOR BCOM FCA LLMINTRODUCTION:- The brief study in this article relates to some legal and taxation issues connected with the receipt of hereditary commission by nominee or legal heir

Loveonomics and its taxation

Posted by CA Umesh Sharma 09 February 2015 14950 Views

Karneeti Part 75Loveonomics and its taxationArjuna (Fictional Character): Krishna, 7th February to 14th February is celebrated as Valentine Week all over the World. This is celebrated by giving gifts and wishes and for that the markets were ready. Th

TDS u/s 195- Interesting Cases

Posted by CA Rohit Gupta 07 February 2015 37418 Views

Peculiar Cases where Courts held Assessee Liable for Deduction of TDS u/s 195Withholding taxes u/s 195 in respect of transactions with Non-Residents has always been a bone of contention between Assessee and tax authorities. Though liability for deduc