Articles by Suresh Thiyagarajan

Analysis of Sec 115BAA of the Income Tax Act

Posted by Suresh Thiyagarajan 14 April 2020 61957 Views

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.

Notional income in case of real estate companies

Posted by Suresh Thiyagarajan 21 January 2020 17862 Views

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

Posted by Suresh Thiyagarajan 15 January 2020 45589 Views

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

Posted by Suresh Thiyagarajan 31 December 2019 30348 Views

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

Posted by Suresh Thiyagarajan 30 December 2019 9248 Views

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

Posted by Suresh Thiyagarajan 29 December 2019 13244 Views

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

Posted by Suresh Thiyagarajan 29 December 2019 9638 Views

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...

Applicability of tax on Cashback

Posted by Suresh Thiyagarajan 25 December 2019 14503 Views

In the increasing backdrop of E-commerce platform of doing business, there arises a tax angle on how to deal with Cashback. Though Income tax, tax the income ar...

Treatment of Notional Loss on account of Mark-to-Market

Posted by Suresh Thiyagarajan 22 October 2019 51790 Views

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.