TAX BY MANISH: April 2016

Wednesday, 6 April 2016

Online Correction facility for TDS statements filed in form 26QB

Please click the link below to read the complete article.

https://taxofindia.wordpress.com/2016/04/06/online-correction-facility-for-tds-statements-filed-in-form-26qb/

Friday, 1 April 2016

Income tax return of AY 2016-17.

Please click the link below.

https://taxofindia.wordpress.com/2016/04/01/cbdt-notified-new-income-tax-return-forms-for-a-y-2016-17/

Recommendations of 55th GST council meeting | 21 December 2024

Summary of the relevant updates is provided below for ease of your reference: A) Proposals relating to GST law, Compliances an...

Imp Verdicts

PCIT vs. The Executor of Estate of Late Smt. Manjula A. Shah (Bombay High Court) S. 50C Capital Gains: The valuation of the stamp autho...
SC holds CENVAT credit is eligible on mobile towers and pre-fabricated buildings

This Tax Alert summarizes a recent ruling of the Supreme Court (SC) [1] on availability of CENVAT Credit on mobile towers and pre-fabrica...
The Big Debate - GAAP Vs. IFRS

IFRS and US GAAP - Similarities and Differences What is IFRS? And what is GAAP? The main difference between IFRS and US GAAP is that G...
HC : Co-op. credit society’s sale under Government’s Public Distribution System qualifies for Sec. 80P benefit

Madras HC reverses ITAT's order, grants deduction u/s. 80P(2)(a)(i) to assessee (a society engaged in the business of banking and provi...
SC : Dismisses SLP against re-assessment initiation based on special audit report

SC dismisses assessee-company’s SLP challenging Bombay HC order upholding re-assessment initiation (beyond 4 yrs period) based on a special...
SC : Dismisses SLP against penalty deletion for accepting/repaying loans through ‘journal entries’

SC dismisses Revenue’s SLP challenging Bombay HC order in case of assessee (belonging to Lodha group of companies engaged in real estate bu...
How to Claim Foreign Tax Credit in Australia as a Company

Claiming a foreign tax credit (FTC) in Australia allows companies to offset foreign taxes paid on income earned overseas against their Aust...
HC: Explains 'substantial interest' u/s 40A(2)(b) for SDT constitution; Relies upon ICAI Guidance Note

HC allows HDFC Bank’s writ petition, quashes AO’s order and subsequent reference to TPO alleging that certain related party transactions [p...
ITAT : Deletes over Rs. 1500 cr. capital gains addition regarding Telenor India’s telecom license-fee set-off

Delhi ITAT deletes Rs. 1558.57 cr. capital gains addition on Telenor India for AY 2014-15, holds that set off of non-refundable entry fee p...
Bombay HC upholds levy of GST on advances and allows ITC in the hands of recipient basis receipt voucher

This Tax Alert summarizes a recent ruling of the Bombay High Court (HC)1 on admissibility of input tax credit (ITC) w.r.t GST on advance p...