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PREMIUM PAID ON KEYMAN INSURANCE POLICY - TAX TREATMENT UNDER INCOME TAX ACT

Author
Ram Dutt Sharma
08/05/2026  |  0 COMMENTS  |  VISITOR'S COUNT: 174
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PREMIUM PAID ON KEYMAN INSURANCE POLICY - TAX TREATMENT UNDER INCOME TAX ACTA Keyman insurance Policy, of the Life Insurance Corporation of India, etc. provides for an insurance policy taken by a business organisation or...

COST INFLATION INDEX [EXPLANATION (v) TO SECTION 48]

Author
Ram Dutt Sharma
08/05/2026  |  0 COMMENTS  |  VISITOR'S COUNT: 336
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COST INFLATION INDEX [EXPLANATION (v) TO SECTION 48]   BACKGROUND The intention of the legislature is to tax the real gain on transfer of the capital asset not the profit due to inflation. In order to ach...

Warrant of Authorisation for Income Tax Search

Author
Ram Dutt Sharma
08/05/2026  |  0 COMMENTS  |  VISITOR'S COUNT: 233
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Warrant of Authorisation for Income Tax SearchA warrant of authorization is the key document and stepping stone for commencement of actual search. It is the main foundation of entire proceedings of search and seizure. A ...

Provisions related to Religious Trusts under Income Tax Law

Author
Ram Dutt Sharma
08/05/2026  |  0 COMMENTS  |  VISITOR'S COUNT: 296
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Provisions related to Religious Trusts under Income Tax LawThe Income Tax Act makes a distinction between Trusts for charitable purposes and those for religious purposes, though both are entitled to exemption under secti...

PENALTIES IN SEARCH CASES

Author
Ram Dutt Sharma
08/05/2026  |  0 COMMENTS  |  VISITOR'S COUNT: 203
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PENALTIES IN SEARCH CASESDefault in complying with provisions of or with conditions prescribed under the Income-tax Act would attract certain penalty and in critical cases prosecutions as well. There are three modes...

Art of Drafting of “Statement of Facts” and “Grounds of Appeal” for filing of Appeal before Commissioner of Income-tax (Appeals)

Author
Ram Dutt Sharma
08/05/2026  |  0 COMMENTS  |  VISITOR'S COUNT: 404
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Art of Drafting of “Statement of Facts” and “Grounds of Appeal” for filing of Appeal before Commissioner of Income-tax (Appeals)Statement of Facts and Grounds of Appeal are most important, but it observed that th...

Analysis of judgement of Supreme Court delivered on 15.12.2025 in the case of Director of Income Tax, Mumbai v. M/s American Express Bank Ltd., on the issue of Deduction of head office expenditure in the case of non-residents under section 44C of the Income Tax Act, 1961

Author
Ram Dutt Sharma
08/05/2026  |  0 COMMENTS  |  VISITOR'S COUNT: 172
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Analysis of judgement of Supreme Court delivered on 15.12.2025 in the case of Director of Income Tax, Mumbai v. M/s American Express Bank Ltd., on the issue of Deduction of head office expenditure in the case of non-resi...

Compliance Calendar May 2026

Author
My Tax Expert
07/05/2026  |  0 COMMENTS  |  VISITOR'S COUNT: 485
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Link of Compliance Calendar May 2026https://mytaxexpert.co.in/uploads/1778156433_ComplianceCalendarMay2026.xlsx Date Act/Category Form Obligation 01 May 2026, Fri Goods and Servi...

Tie breaker Rule in Double Taxation Avoidance Agreement (DTAA)

Author
Ram Dutt Sharma
07/05/2026  |  0 COMMENTS  |  VISITOR'S COUNT: 324
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Tie breaker Rule in Double Taxation Avoidance Agreement (DTAA)The Tie breaker rule for residential status refers to the criteria used to determine an individual’s primary place of residence, usually for tax purpos...

Whether Sumptuary allowance granted to judicial officer is exempt from payment of Income Tax?

Author
Ram Dutt Sharma
07/05/2026  |  0 COMMENTS  |  VISITOR'S COUNT: 319
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Whether Sumptuary allowance granted to judicial officer is exempt from payment of Income Tax?The sumptuary allowance is a specific benefit provided to judicial officers in India to cover entertainment expenses. This allo...