Direct Tax : Mumbai ITAT grants vacancy allowance u/s 23(1)(c) to Saif Ali Khan Pataudi (‘assessee’) in respect of his Bandra flats that could not be let out during AY 2012-13;… Read More
Direct Tax : Kerala HC reverses ITAT order, holds that payment made by assessee (an Indian co.) to a US co. for providing management, financial, legal, public relations, treasury and risk… Read More
DON`T LOSE YOUR DIRECTORSHIP -ENSURE YOUR KYC COMPLETED LAST DATE OF DIN KYC UPDATE HAS BEEN EXTENDED For the purpose of KYC on ROC -Directors database on ROC, ROC has… Read More
Penalty and Interest can be imposed if a person needs to reduce TDS. In the article, we cover the applicable interest and penalty for TDS default. Interest for Nonpayment or… Read More
Corporate & professional updates 21ST aug 2018 Direct Tax : Mumbai ITAT rules that interest income earned by HSBC Bank (Mauritius) Ltd. (‘assessee’) from investments in debt securities made in… Read More
Direct Tax : Bombay HC upholds ITAT order and rules in favour of Revenue, denies Sec. 80-IB deduction to assessee-company outsourcing manufacturing activity to contract manufacturer; Observes that the assessee did not… Read More
corporate and professional updates 16th aug 2018 Direct Tax : Delhi HC dismisses Revenue’s appeal, allows depreciation on the intellectual property rights (IPR) acquired and purchased by assessee co. from… Read More
Different types and reasons for important notices Section 142(1) Notice – Pre-evaluation investigation: Section 142(1) Notice is generally intended to be used to invite taxpayers to provide the documents… Read More
Direct Tax : Bombay HC dismisses Revenue’s appeal, upholds ITAT’s exclusion of 4 comparables on grounds of functional dissimilarity, abnormal profit etc. for assessee providing software development services to AE… Read More
Due Date of ITR Filing in India Check the last date to file ITR For FY 2021-22(AY 2022-23) Many of us wait till the last minute before springing into action… Read More