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
corporate and professional updates 10 aug 2018 Direct Tax : Kerala HC reverses ITAT order, upholds CIT’s cancellation of registration in case of assessee-Trust (having objects of establishing a fund for… Read More
Corporate and professional updates 9th aug 2018 Direct Tax : Ahmedabad ITAT rejects assessee’s methodology towards adjustment and set off of brought forward loss and unabsorbed depreciation while calculating book… Read More
Direct Tax : ITAT remits issue whether price fixed under MAP concluded with USA in respect of call centre and share services transactions with US-AEs can be adopted in case… Read More