Deciding taxability of the software is currently a challenge, fortunately, Supreme court gave some remarks which will be helpful to decide taxability which is summarised below Decision Engineering Analysis Test of charge ability is relevant for sec 195 DTAA definition refers to “royalty means” and therefore it is exhaustive. Income tax definition has wider coverage…
A chemical company got trapped into a high-level Tax inquiry while claiming depreciation of a new unit. The tax office enquired about the date of commencement of the unit’s operation which was substantiated by a series of documents viz. excise passing, electric unit consumption, job cards, labor contractors invoices, etc It took 3 rounds of…
SILENT FEATURES OF THE SCHEME FAQ is silent on the coverage of genuine delay in filing of the appeal, which is pending for condonation of whether it should be covered considering the objective of the scheme. FAQ is silent on the coverage of miscellaneous applications filed against the order of tribunal. What still remains out…
Delay in the filing of audit reports by trusts or institutions have been condonated by The Central Board of Direct Taxes