Blog Categories
Subscribe to Newsletter
Join our subscribers list to get the latest Tax Updates and Opportunities.
Knowledge Portal
Click here to explore deep insights, FAQs, and comprehensive tax guides.
Explore Now
Validity of penalty imposed under section 271(1)(c ) for disallowance of business expenses
Validity of penalty imposed under section 271(1)(c ) for disallowance of business expensesPenalty is one of the weapon which is now used by Income tax department (ITD) for each & every kind of addition they are makin...
Concept of "Real Income Theory" under Income Tax Laws
Concept of "Real Income Theory" under Income Tax LawsLord Macnaghten “Income Tax, if I may be pardoned for saying so, is a tax on ‘income’. It is not meant to be a tax on anything else” explains the concept of re...
Pr. Commissioner of Income Tax–11 vs Shri Dinesh Kumar Mathur | Delhi High Court on Section 40(a)(ia) & Section 194C – Disallowance on Reimbursement Payments and TDS Liability
Facts of the CaseThe assessee, engaged in the business of manufacturing and
exporting garments and accessories, claimed expenditure amounting to ₹3,19,66,460/-
paid to M/s Aakriti Creation Pvt. Ltd., a sister concern...
Taxation of Derivatives
Taxation of DerivativesHistory of Taxation on Derivatives in IndiaPrior to Financial Year 2005–06, no special provisions were there for trading of derivatives, in Income Tax Act, 1961. Although derivatives contract hav...
Refund of TDS & Interest on TDS refund to TDS Deductor
Refund of TDS & Interest on TDS refund to TDS DeductorSection 200A describes the processing of TDS return and also the process to refund the amount in case any amount paid by the deductor is in excess of the amount f...
Allowability of Corporate Social Responsibility (CSR) Expenditure under the provisions of Income Tax Act, 1961
Allowability of Corporate Social Responsibility (CSR) Expenditure under the provisions of Income Tax Act, 1961Corporate Social Responsibility (CSR) is a self-regulating process, through which corporate link their ac...
Penalty under section 271D for failure to comply with the provisions of section 269SS
Penalty under section 271D for failure to comply with the provisions of section 269SSThe provisions of section 269SS and 269T were brought on the statute by the Finance Act, 1984, with effect from, 01.04.1...
Applicability of provisions of TDS in respect of Commission Paid by Indian Exporters to Non-Resident Agents
Applicability of provisions of TDS in respect of Commission Paid by Indian Exporters to Non-Resident AgentsThe role of an agent differs from case to case. The duties of the agent are usually compiled in the agency agreem...
Commissioner of Income Tax, International Taxation-2 vs ZTE Corporation | Delhi High Court on Taxability of Embedded Software, Royalty under Section 9(1)(vi), Article 12 of India-China DTAA & Interest under Section 234B
Facts of the CaseZTE Corporation, a tax resident of China, was engaged in
supplying telecom equipment and mobile handsets to Indian telecom operators. It
did not file its income tax returns in India on the ground that ...
Witnesses (Panchas) to the Income Tax Search
Witnesses (Panchas) to the Income Tax SearchAppointment of witnessesBefore making a search of a building or a place, the Authorrised Officer is required to call upon two or more respectable inhabitants of the locality in...