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Special provisions for full value of consideration for transfer of assets other than capital assets in certain cases [Section 43CA]
Special provisions for full value of consideration for transfer of assets other than capital assets in certain cases [Section 43CA]Section 43CA inserted by the Finance Act, 2013, with effect from 01.04.2014 (i.e. with ef...
Validity of Notice issued under section 148 of the Income Tax Act in the name of a deceased person
Validity of Notice issued under section 148 of the Income Tax Act in the name of a deceased personSection 148 of the Income Tax Act, 1961 (‘the Act’ for short) provides that before making the assessment, reassessment...
Levy and recovery of tax from Shipping business of non-residents [Section 172]
Levy and recovery of tax from Shipping business of non-residents [Section 172]India has a coastline spanning 7517 km with 13 major ports and about 200 small ports. According to the Ministry of Shipping, around 95 per cen...
Levy and recovery of tax from Shipping business of non-residents [Section 172]
Levy and recovery of tax from Shipping business of non-residents [Section 172]India has a coastline spanning 7517 km with 13 major ports and about 200 small ports. According to the Ministry of Shipping, around 95 per cen...
Say ‘No’ to Accommodation entries
Say ‘No’ to Accommodation entriesWhat is Accommodation entriesIn an economy where unaccounted income is a big menace, there are always efforts made by the tax evaders to bring their unaccounted income back to their b...
Agent in relation to a Non Resident [Section 163]
Agent in relation to a Non Resident [Section 163]Section 163 lays down as to who can be regarded as an agent of the non-resident and under what circumstances he can be so treated as an agent of the non-resident. This Sec...
Substantive provisions versus Technical Provisions
Substantive provisions versus Technical ProvisionsAn analysis of the proposition as found to have been conclusively settled by the case laws from the numerous Supreme Court and High Court Judgments in decided cases ...
Taxing of deemed income under the Income Tax Act, 1961
Taxing of deemed income under the Income Tax Act, 1961Under the Income Tax Act, apart from the actual income, the deemed income or notional income is also liable to tax. Income is defined under Section 2(24) of the ...
Fresh assessment by the Assessing Officer on direction given by the Principal Commissioner or Commissioner in 263 order
Fresh assessment by the Assessing Officer on direction given by the Principal Commissioner or Commissioner in 263 orderThe scheme of the Act has provided different powers to different authorities and these are required t...
Agent in relation to a Non Resident [Section 163]
Agent in relation to a Non Resident [Section 163]Section 163 lays down as to who can be regarded as an agent of the non-resident and under what circumstances he can be so treated as an agent of the non-resident. This Sec...