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Applicability of provisions of TDS in respect of Commission Paid by Indian Exporters to Non-Resident Agents
Applicability of provisions of TDS in respect of Commission Paid by Indian Exporters to Non-Resident AgentsThe role of an agent differs from case to case. The duties of the agent are usually compiled in the agency agreem...
Commissioner of Income Tax, International Taxation-2 vs ZTE Corporation | Delhi High Court on Taxability of Embedded Software, Royalty under Section 9(1)(vi), Article 12 of India-China DTAA & Interest under Section 234B
Facts of the CaseZTE Corporation, a tax resident of China, was engaged in
supplying telecom equipment and mobile handsets to Indian telecom operators. It
did not file its income tax returns in India on the ground that ...
Witnesses (Panchas) to the Income Tax Search
Witnesses (Panchas) to the Income Tax SearchAppointment of witnessesBefore making a search of a building or a place, the Authorrised Officer is required to call upon two or more respectable inhabitants of the locality in...
Time limit for completion of assessment under section 153A as prescribed in section 153B of the Income-Tax Act, 1961
Time limit for completion of assessment under section 153A as prescribed in section 153B of the Income-Tax Act, 1961Section 153B provides for the time limit within which the assessment or reassessment under section ...
Period of holding for the purposes of computation of capital gains tax
Period of holding for the purposes of computation of capital gains taxAs per the existing provisions, period of holding distinguishes one capital asset from the other. The holding period refers to the time between an ass...
Capital gains in case of “Slump Sale” as per the provisions of Section 50B of the Income Tax Tact, 1961
Capital gains in case of “Slump Sale” as per the provisions of Section 50B of the Income Tax Tact, 1961The concept of ‘Slump sale’ was incorporated in the Income Tax Act, 1961 (herein after referred to as “the ...
AMNESTY & VOLUNTARY DISCLOSURE OF INCOME SCHEME
AMNESTY & VOLUNTARY DISCLOSURE OF INCOME SCHEMEOver time, governments have offered reprieves to the public in the matter of tax evasion based on the rationale that people must be given an opportunity to correct their...
INTEREST PAID IN RESPECT OF CAPITAL BORROWED FOR THE PURPOSE OF BUSINESS OR PROFESSION [SECTION 36(1)(iii)]
INTEREST PAID IN RESPECT OF CAPITAL BORROWED FOR THE PURPOSE OF BUSINESS OR PROFESSION [SECTION 36(1)(iii)]The interest paid on capital borrowed for business/profession is eligible for deduction under Section 36(1)(iii)....
Claim of Bogus Losses through Client Code Modification - Taxability under Income Tax Law
Claim of Bogus Losses through Client Code Modification - Taxability under Income Tax LawClient Code Modification means modification / change of the client codes after execution of trades. Stock E...
Pr. Commissioner of Income Tax-XVIII vs Praveen Saxena (Delhi High Court) – Allowability of Customs Duty Deposit as Deduction under Section 43B of the Income Tax Act, 1961
Facts of the CaseThe assessee, Mr. Praveen Saxena, was engaged in the business
of import and export of commodities through his proprietary concern, M/s Nova
International. A search operation was conducted by Customs Au...