CORPORATE AND PROFESSIONAL UPDATE April 28, 2017 Direct Tax: Supreme Court held that if an undertaking is sold as a running business with all assets and liabilities for a slump… Read More
Professional Update For the Day: Direct Tax: Supreme court held that premium collected by the assessee on its subscribed share capital doesn’t constitute capital employed in the business… Read More
Professional Update For the Day: Direct Tax: Last date for submission of a valid return for AY 2015-16 expires on 31st March 2017 u/s 139. Those taxpayers whose returns for AY 2015-16… Read More
Professional Update For the Day: Direct Tax: Share application money received from bogus shareholders, ITO to reopen assessment of such shareholders and not to add the same to the assessee’s… Read More
Professional Update For the Day: Direct Tax: Compensation paid to employees on closure of business couldn’t be termed as VRS package for income-tax relief. [2017] 79 298 (Madras) Mere signing of 'Sauda… Read More
Professional Update For the Day: Direct Tax: Provision made by the assessee for payment of any gratuity, that has become payable during the year is allowable. In fact the CBDT… Read More
Professional Update For the Day: Direct Tax: Advertisement expenses incurred to publicize change of name from UTI bank to Axis Bank allowable as revenue exp. [2017] 79 187 (Ahmedabad - Trib.) Sum… Read More
CORPORATE AND PROFESSIONAL UPDATE MARCH 24, 2017 Direct Tax: CBDT issues clarifications on Income Computation and Disclosure Standard (ICDS) u/s 145(2) of the Income Tax Act, 1961 on 23… Read More
Income Tax Deductions Sections 80C to 80U in India for Tax Saving: The most comprehensive guide for all income tax deductions covered in Chapter VI A of income tax for… Read More
CORPORATE AND PROFESSIONAL UPDATE MARCH 22, 2017 Direct Tax: Royalty and fee for technical assistance paid in pursuance of the license agreement are revenue expenditure and not capital in… Read More