Friday, 31 August 2012

CBDT Releases Transfer Pricing “Advance Pricing Agreement Scheme” (“APA”)

Vide Notification No. 36 of 2012 dated 30.08.2012, the CBDT has inserted Rules 10F to 10T to introduce the “Advance Pricing Agreement Scheme”.

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Section 56(2)(ix): Forfeiture of Advance Money Received – A Critical Analysis

The Dual Conditions for Taxability Section 56(2)(ix) of the Income Tax Act imposes tax liability on sums received as advance or otherwise du...