Articles by Suresh Thiyagarajan
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Treatment of Notional Loss on account of Mark-to-Market
Before going into the concept of notional loss arising out of Mark-to-Market on forward contract, let's brush up some important basic definitions relating to the above treatment.
Analysis of Sec 115BAA of the Income Tax Act
With the introduction of sec 115BAA, domestic companies who are paying tax at the rate of 25% (or 30%) now have an option to pay tax at a lower rate through sec 115BAA. Any person who had opted for sec 115BAA being a domestic company will pay tax at the rate of 22% on its total income irrespective of its turnover during the previous year.
Set off loss under the head capital gains
After the introduction of sec 112A, it is important for the assessee to know the various provisions and rules attac
Salary received by NRIs
TDS u/s 192 in case of Non-Resident IndianIt is very common for Indians to work abroad and receive a salary from a foreign company. However, there is still a co...
Notional income in case of real estate companies
Income from unsold flats by Real Estate Companies:We all know at any point in time companies engaged in the business of construction of residential house proper...
Simultaneous use of Sec 44AD and Sec 44ADA
Though we have seen a lot of interpretations regarding simultaneous use of sec 44AD(relating to business) and sec 44ADA (relating to profession specified u/s 44...
Confusion between goodwill of profession vs business
Sale of Goodwill and its taxability:Goodwill, the name in itself gives us an idea that it is a reputation that was built through business over a period of time....
Income from House property of Non-Resident
Tax on Income from House property of Non-resident:It is very common for Indian's living abroad to own a house property in It is It is very common for Indian
TDS under Sec 194-IA
TDS u/s 194-IA relating to Transfer of Immovable Property(IP): The above section requires the transferee (person who purchases the IP) to deduct TDS @1% u/s 194...
Foreign Company - Set off and Carry forward of business loss
Whether set off and carry forward provision applicable to Foreign Company?With the globalization of companies around the world, it is important for the governme...
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