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Articles by Manish Kumar Agarwal

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Understanding turnover exemption u/s 10A of the IT act, 1961

  Manish Kumar Agarwal    05 May 2016 at 10:54

In respect of claim of exemption u/s 10A, 10AA & 10B, still there is lot of confusion is there between taxpayer and the tax officer. Given below chart based on the latest judicial pronouncement will help to reduce such confusion. SN

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Posted in Income Tax |   10080 Views


Taxation under MAT

  Manish Kumar Agarwal    04 May 2015 at 11:21

Normally, a company is liable to pay tax on the income computed in accordance with the provisions of the Income-Tax Act, but the profit and loss account of the company is prepared as per provisions of the Companies Act. In the past, a large number of

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Posted in Income Tax  1 comments |   28728 Views


Taxation of Forex profit and loss under section 43A

  Manish Kumar Agarwal    30 April 2015 at 10:21

From the ACT. Notwithstanding anything contained in any other provision of this Act, where an assessee has acquired any asset in any previous year from a country outside India for the purposes of his business or profession and, in consequence of a c

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Posted in Income Tax  2 comments |   71367 Views


FAQ on tax on income from share market

  Manish Kumar Agarwal    29 April 2015 at 10:48

Income from intra-day trading is considered as speculation income and taxed as such. While speculation losses can be set off only against speculation gains, non-speculation business losses may be set off against short/long-term capital gains. KEY POI

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Posted in Income Tax  5 comments |   54618 Views


Understanding Penalty under income tax with latest case laws

  Manish Kumar Agarwal    11 June 2014 at 11:28

Penalty is one of the weapon which is now used by Income tax department (ITD) for each & every kind of addition they are making during the assessment. Further recently the weapon also used for transfer pricing documentation also. The handling of

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Posted in Income Tax  1 comments |   35829 Views


Understanding Speculation Profit/ loss with latest Case Laws

  Manish Kumar Agarwal    03 June 2014 at 11:36

1. S. 73 of the Income-tax Act provides that any loss computed in respect of speculation business carried on by an assessee will not be set off except against the profits and gains, if any, of another speculation business. Further, where any loss com

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Posted in Income Tax |   20193 Views


Understanding Section 80 IB Deduction in respect of Real Estate Companies

  Manish Kumar Agarwal    29 May 2014 at 13:23

Background:- Section 80-IB (10) of the Act is aimed at promoting construction of housing projects, so as to address the problem of shortage of dwelling units. The predominant objective of this incentive provision, therefore, is to encourage better av

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Posted in Income Tax  1 comments |   89157 Views


Understanding Section 10 with latest case laws Part-III

  Manish Kumar Agarwal    24 September 2013 at 12:15

The most important & disputed clause under section 10 is exemption allowed to STPI and SEZ under clause 10A, 10B & 10AA. However, from FY 2011-12, the exemption is no more allowed to STPI and EOU units, however continued to allowed to SEZ U

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Posted in Income Tax  3 comments |   29175 Views


Understanding deductions of section 80-IA & IB with Latest Case Laws Part II

  Manish Kumar Agarwal    17 September 2013 at 18:05

We had earlier discuss in detail about the concepts of section 80-IA & IB along with various case laws earlier in article. Over a period of time, there are number of judgments comes from various levels of courts from different locations

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Posted in Income Tax  3 comments |   41145 Views


Transfer Pricing with latest case laws

  Manish Kumar Agarwal    16 August 2013 at 11:08

Over a period of time, there are number of judgements comes from various levels of courts from different locations of India and hence it is very important to know the same for the correct treatment of Transfer pricing: In the case of Delphi

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Posted in Corporate Law  5 comments |   34734 Views