1. Under the new regime reopening is based on Information flagged by risk management strategy & not reasons to believe 2. 148A – mandates AO to enquire about information before issuing of notice u/s 148 3. The word used u/s 148A if required (at the end) suggests that where the information is factually not correct,…
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…
As highlighted in Budget 2020, it proposes to allow deductions of interest expenses to the extent of 20% of dividend income. The author in this article is focusing on the significant aspect which is whether 20% deduction is on net taxable dividend (after deduction u/s 80M) or on gross dividend income. Proposal for sec…
We have made an attempt to analyse proposed provision of section 80M of the budget 2020, which delivers benefit on one hand by removing structural barrier but costlier on the other hand by excluding foreign dividend from avoidance of cascading effect. Author has analysed it for the benefit of readers which can be read in…
Budget analysis for Individual;Trust;Corporate;NRI.etc Author has summarized on the basis of relevance to reader. Hope it will be useful. Will like to receive your feedback on same.
Restrictions on ownership of co-owned property according to section 54F