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Understanding of Audit report Form 10B and Form 10BB for Charitable trusts/institutions

Author
Ram Dutt Sharma
08/05/2026  |  0 COMMENTS  |  VISITOR'S COUNT: 407
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Understanding of Audit report Form 10B and Form 10BB for Charitable trusts/institutionsWhy is Audit of Charitable & Religious Trusts or institutions RequiredThe principal aim of this audit is to enable the assessing ...

Understanding of Audit report Form 10B and Form 10BB for Charitable trusts/institutions

Author
Ram Dutt Sharma
08/05/2026  |  0 COMMENTS  |  VISITOR'S COUNT: 323
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Understanding of Audit report Form 10B and Form 10BB for Charitable trusts/institutionsWhy is Audit of Charitable & Religious Trusts or institutions RequiredThe principal aim of this audit is to enable the assessing ...

Payments made to Non-Residents & requirement to furnish Form No. 15CA/ Form No. 15CB/ Form No. 15CC arises from section 195(6) of the Income Tax Act, 1961

Author
Ram Dutt Sharma
08/05/2026  |  0 COMMENTS  |  VISITOR'S COUNT: 332
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Payments made to Non-Residents & requirement to furnish Form No. 15CA/ Form No. 15CB/ Form No. 15CC arises from section 195(6) of the Income Tax Act, 1961Requirement to furnish Form No. 15CA / Form No. 15CB...

Allowability of Litigation expenses under the provisions of Income Tax Act, 1961

Author
Ram Dutt Sharma
08/05/2026  |  0 COMMENTS  |  VISITOR'S COUNT: 234
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Allowability of Litigation expenses under the provisions of Income Tax Act, 1961The income-tax laws in India contemplate deduction of expenses incurred in the carrying on of business. In running a business, which involve...

Understanding about “Tax Residency Certificate” (TRC)

Author
Ram Dutt Sharma
08/05/2026  |  0 COMMENTS  |  VISITOR'S COUNT: 581
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Understanding about “Tax Residency Certificate” (TRC)India has entered into Double Taxation Avoidance Agreements (‘DTAA’ or ‘tax treaty’) with various countries outside India for granting relief of tax / avoi...

Role of Witnesses in Income Tax Search and seizure proceedings

Author
Ram Dutt Sharma
08/05/2026  |  0 COMMENTS  |  VISITOR'S COUNT: 255
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Role of Witnesses in Income Tax Search and seizure proceedingsA search and seizure under the Income Tax Act, 1961 has to be carried out in the presence of at least two respectable inhabitants of the locality where the se...

Special provision for computing profits and gains in connection with the business of exploration, etc., of mineral oils [Section 44BB]

Author
Ram Dutt Sharma
08/05/2026  |  0 COMMENTS  |  VISITOR'S COUNT: 249
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Special provision for computing profits and gains in connection with the business of exploration, etc., of mineral oils [Section 44BB]Section 44BB is a special provision for computing profits and gains of a non-resident ...

Deduction of head office expenditure in the case of non-residents [Section 44C]

Author
Ram Dutt Sharma
08/05/2026  |  0 COMMENTS  |  VISITOR'S COUNT: 202
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Deduction of head office expenditure in the case of non-residents [Section 44C]Section 44C, is a non obstante clause stating that in the case of a non-resident, no allowance shall be made in respect of so much of expendi...

Decoding of Rule 46A of the Income Tax Rules, 1962 related to production of additional evidence before the first appellate authority after an assessment being made by the Assessing officer

Author
Ram Dutt Sharma
08/05/2026  |  0 COMMENTS  |  VISITOR'S COUNT: 258
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Decoding of Rule 46A of the Income Tax Rules, 1962 related to production of additional evidence before the first appellate authority after an assessment being made by the Assessing officerClause (mm) was inserted vide Fi...

Virtual Digital Assets (“VDAs”) come under the ambit of Prevention of Money Laundering Act, 2002 (PMLA)

Author
Ram Dutt Sharma
08/05/2026  |  0 COMMENTS  |  VISITOR'S COUNT: 208
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Virtual Digital Assets (“VDAs”) come under the ambit of Prevention of Money Laundering Act, 2002 (PMLA)Virtual Digital Assets (“VDA”) have been defined under the Income tax Act, 1961 as any information, code, num...