CBDT Circular on Date of Transfer & Period of Holding

Instructions regarding determination of the ‘date of transfer’ and holding period for purposes of capital gains qua transactions in securities Circular: No. 704, dated 28-4-1995. 1. Under the provisions of clause (42A) of section 2 of the Income-tax Act, 1961, the shares held in a company or any other security listed in a recognised stock exchange in India or units …

Loan from NRI

Loan from NRI Without RBI Approval ? Yes You Can Do So, But Beware of Certain Conditions !

The are many instances when a person resident in India may seek loan from NRI reltaives. In fact lender  Non Resident Indian  may or may not be your relative.In fact many people have asked if laon from NRI firend can be taken without approval of RBI. Further , an Indian may require loan in foreign exchange or in rupee depending …

vodafone transfer pricing

Vodafone Transfer Pricing Ruling by Mumbai HC Final : CBDT

Its official now , that CBDT has issued Instruction No.2/20l5 to its officer that the the Mumbai High Court ruling in transfer pricing ruling case of Vodafone case related to transfer pricing adjustment on account of share premium is final and should be followed by all officials.This case is also very important from point of view that if any company …

Section 50 of the Income Tax Act : Special provision for computation of capital gains in case of depreciable assets.

Special provision for computation of capital gains in case of depreciable assets. 50. Notwithstanding anything contained in clause (42A) of section 2, where the capital asset is an asset forming part of a block of assets in respect of which depreciation has been allowed under this Act or under the Indian Income-tax Act, 1922 (11 of 1922), the provisions of …