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Bollywood films shooting abroad require help of foreign based service providers for arranging various kinds of jobs critical to the film shooting in the foreign locations .In this connection, however , a controversy of TDS compliance issue whether payments made to non resident service providers should suffer tax at source.This was the issue before ITAT [...]
Section 12AA of the Income Tax Act provides for procedure of registration of a charitable trust. As per the rule, the application is submitted to the Commissioner of Income having the jurisdiction , and he within six months from the end of month in which the application was filed , will either register or reject the application. The issue...
Section 201 empowers assessing officer to demand tax not deducted by a person in case the A.O finds that the said person was required to deduct tax at source and deposit it with government. Now , what happens in case when an expenditure on which the TDS was required , but not made within due date? Section...
Section 50c of the Income Tax Act has brought lot of resentment to tax payers because of its presumption of sales consideration. Those readers who are not full aware of this dreadful provision of Indian tax law , should understand simply that if a you sell an immovable property which you held as investment and receives Rs [...]
Section 11 deals with exemption to income of property held by trust. Mumbai High court in CIT vs Trustees of Kasturbai Scindia Commission Trust [1991] 189 ITR 5 (BOM.) was seized with the issue whether repayment of loan by the scholars who had taken the loans from the assessee-trust can be construed as income of the trust? [...]
PAN and TAN applications require you to fill up the the jurisdiction in which the applicant is … [Read More...]
Capital gains exemption u/s 54 provides relief to a tax payer who gets gains on account of sale of … [Read More...]
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