CORPORATE AND PROFESSIONAL UPDATE DECEMBER 11, 2015 INCOME TAX ACT SECTION 2(47) CAPITAL GAINS - TRANSFER Immovable property : Where assessee was directed to handover possession of its property to… Read More
SELLING EXPENSES INCURRED FOR MAKING SALES ARE DISTINCT FROM AMP EXPENSES AND, HENCE, SHOULD NOT BE INCLUDED IN THE BASE AMOUNT FOR COMPUTING ALP OF AMP EXPENSES Discovery Communications India… Read More
WRIT PETITIONS UNDER THE CONSTITUTION OF INDIA Writ Petitions under Articles 32 and 226 of the Constitution of India The Writ Jurisdiction of Supreme Court can be invoked under Article… Read More
COMPOUNDING OF OFFENCES UNDER FEMA, 1999 - CHECKLIST & PROCEDURE Contraventions under FEMA The compounding of contraventions under Foreign Exchange Management Act (FEMA), 1999 is a voluntary process by which… Read More
No TP adjustment for royalty calculated on basis of new exchange control policy as it was less than the earlier year ACIT v. Oracle India (P.) Ltd., ITA No. 1432… Read More
CORPORATE AND PROFESSIONAL UPDATE DECEMBER 10, 2015 1. Cabinet approves of Real Estate Regulation and Development Bill, 2015 2. 3% growth in Indirect Tax Collection In November 3. Commissioner gets… Read More
COMMISSION PAID TO AGENT FOR SERVICES RENDERED OUTSIDE INDIA WASN'T TAXABLE IF HE DIDN'T HAVE ANY PE IN INDIA DCIT V. TVS SRI CHAKRA LTD. [CHENNAI ITAT], ITA NO. 501… Read More
CORPORATE AND PROFESSIONAL UPDATE DECEMBER 9, 2015 DIRECT TAXES: 1. Revision u/s 264 in favor of assessee - the appeal of the Assessee has not been disposed on merits. In… Read More
VAT & SERVICE TAX - TAX-ABILITY OF SOFTWARE & RELATED MATTER OVERVIEW SOFTWARE– To be treated status quo with implications in case of software. CLOUD SHARING: - Liable to… Read More
APPLICABILITY OF PAN REQUIREMENT FOR FOREIGN NATIONALS AT THE TIME OF COMPANY INCORPORATION Ministry of Corporate Affairs (MCA) has reconciled with the fact that not all Fireign Nationals are required… Read More