Saturday, 7 July 2012

•Master Circular – Collection of Direct Taxes- OLTAS

To read the circular click the link

http://www.caalley.com/rbi12/101MCOL020712.pdf

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Mumbai Tribunal deletes Tax Addition made by Assessing Officer by creating 'notional interest' on loan advanced by Company to Director

  Advancing of interest-free funds by company to director does not warrant computation of notional interest income in the hands of Company. ...