Friday, 10 April 2015

Circular On Taxation Of Capital Gains On Redemption Of Mutual Fund FMP Units

The CBDT has issued a Circular bearing No. 6 of 2015 and dated 9th April 2015 explaining the implication of capital gains in respect of units of Mutual Funds under the Fixed Maturity Plans on extension of their term.

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Interest on Foreign Currency Loan & Corresponding Forex Loss for Strategic Share Acquisition Held Deductible as Revenue Expenditure

  The tax treatment of interest on funds borrowed to acquire shares hinges on a single, crucial distinction: the   purpose   behind the acqu...