Posts in Category: "Income Tax Articles"
Who is eligible to claim depreciation in a lease transaction - Whether the lessor (person who hires or leases the asset for a consideration) or the lessee (who hires for business use) ?
Who is eligible to claim depreciation in a lease transaction - Whether the lessor (person who hires or leases the asset for a consideration) or the lessee (who hires for business use) ? As per income tax Act, 1961, ...
Revision of Tax Audit Report – A Comprehensive Professional Analysis
Revision of Tax Audit Report – A Comprehensive Professional Analysis 1. General PrincipleA Tax Audit Report, once issued, is ordinarily not intended to be revised. The very nature of an audit report demands...
APPLICABILITY OF INCOME TAX AND GST ON JOINT DEVELOPMENT AGREEMENT IN REAL ESTATE FOR LANDOWNERS AND BUILDERS
APPLICABILITY OF INCOME TAX AND GST ON JOINT DEVELOPMENT AGREEMENT IN REAL ESTATE FOR LANDOWNERS AND BUILDERS Introduction In the real estate sector, Joint Development Agreements (JDAs) are a common arrangement ...
Exemption of Income of any University or other Educational Institution Substantially Financed by Government [Section 10(23C)(iiiab)]
Exemption of Income of any University or other Educational Institution Substantially Financed by Government [Section 10(23C)(iiiab)] The provisions of section 10(23C)(iiiab) grant exemption of income earned by any person esta...
Estimate of value of assets by Valuation Officer [Section 142A]
Estimate of value of assets by Valuation Officer [Section 142A]Section 142A of the Income Tax Act, 1961 was initially inserted by the Finance (No. 2) Act, 2004, with retrospective effect from 15.11.1972. It was amended by Finance ...