The finance minister?s Budget proposals for fiscal year 2010-11 have been enthusiastically received, primarily because he has been able to…
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A recent decision of the Supreme Court has highlighted the perils and hazard of passengers carrying large amounts of cash…
When a number of persons come together and contribute to a common fund for financing a venture or for undertaking…
Deductions under Chapter VI-A of the Income-tax Act, 1961, cover important benefits like tax holiday provisions. These deductions are generally…
Under the Income-tax Act, 1961, a specific period of limitation is provided for filing an appeal before an appellate authority.…
The provisions of section 2(22)(e) of the Income-tax Act, 1961 create a fiction whereby amounts which are paid otherwise than…
Under the Income-tax Act, 1961, a specific period of limitation is provided for filing an appeal before an appellate authority.…
Foreign companies and those assessees who are subject to transfer pricing regulations (eligible assessees) will be subject to a new…
A summary assessment or a best judgment assessment may be made by an assessing officer under section 144 of the…
Certain types of income are not includible in the tax computation because these are exempt under various provisions of the…
Expenditure is deductible under the Income Tax Act 1961 only after a business is set up. The difficult question pertains…
Persons who are not resident in India are liable to tax under section 5(2) of the Income Tax Act, 1961.…
Section 2(24) of the Income Tax Act, 1961 gives an inclusive definition of the word ?income?. The expression ?income? is…
A foreign enterprise has to pay tax in India if it has an office, branch or any other entity, which…
The High Courts have writ jurisdiction to quash an order of a tribunal or an authority. This jurisdiction is conferred…
Section 275 of the Income-tax Act, 1961, which falls under Chapter XXI, deals with penalties. Clauses (a) and (b) of…
Most companies incur considerable expenditure on publicity and advertisement for building a brand name and enhancing its public image. This…
When convertible bonds or debentures are issued, the question, which arises, is whether the amount paid to the investor is…
