When you figure how much income tax you want withheld from your pay and when you figure your estimated tax, consider tax law changes effective in 2024. If […]
Think the UAE Is Tax-Free? Here’s the Truth
I just got off a call with my UAE accountant that I trust because she basically leans on doing everything right. There’s a lot of accountants in the […]
Taxation of Business Process Outsourcing Units
The provisions containing taxation of IT-enabled business process outsourcing units are not contained in the Income-tax Act, 1961 but are given in Circular No. 5/2004, dated 28-9-2004 issued […]
Understanding Customs Audit under section 99A
In supersession of On-site Post Clearance Audit at Premises of Importer and Exporter Regulations, 2011, Government has notified Customs Audit Regulations, 2018. For this reason, a separate section […]
Stock Transfers Between Branches is Supply under GST
It is a common practice in business to transfer goods transferred amongst different units of same entity, for instance, distribution of samples manufactured in a factory to different […]
Capital Gains in Respect of Slump Sale
What is Slump Sale? As per section 50B of the Indian Income Tax Act, Slump sale means transfer of one or more undertakings, by any means, for a […]
Transfer Pricing Officer Under Section 92CA
Where any person, being the assessee, has entered into an international transaction in any previous year, and the Assessing Officer considers it necessary or expedient so to do, […]
Computation of Income through Arm’s Length Price
Income to be computed at arm’s length price [Section 92(1)] Any income arising from an international transaction shall be computed having regard to the arm’s length price. Although […]
![Clubbing of income of a minor child [Section 64(1A)]](https://www.caclubindia.com/money/wp-content/uploads/2024/11/Section-64.jpg)
Clubbing of income of a minor child [Section 64(1A)]
In computing the total income of an individual, there shall be included all such income as arises or accrues to his minor child. Therefore, the income of a […]
Tax on distribution of assets by companies in liquidation
Section 46(1) – No capital gain to company on distribution of assets to shareholders on liquidation: Wwhere the assets of a company are distributed to its shareholders on […]