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/

GAAR Not Applicable to Genuine Capital Market Transactions: Telangana High Court

In a significant ruling, the Telangana High Court held that General Anti-Avoidance Rules (GAAR) cannot be invoked merely because a transacti...

UNDERSTANDING TAX ON SLUMP SALE WITH LATEST CASE LAWS

Slump sale is transfer of one or more business undertakings for a lump sum consideration, without assigning individual values to the each...
TDS CPC – (Centralized Processing Cell) – New website launch

A new website launched for TDS related matters www.tdscpc.gov.in TRACES – T DS R econciliation A nalysis and C orrection E nabling S yste...
Consideration for services of seconded employees is liable for deduction of tax at source in view of existence of a service PE

Facts  Centrica India Offshore Private Limited (CIO), an Indian Company, is a wholly owned subsidiary of Centrica Plc, UK  Centrica Plc a...
S. 50B: “Slump Sale” Need Not Be A “Sale”. All Slump Transfers Are Covered

SREI Infrastructure Finance Ltd vs. ITSC (Delhi High Court) The assessee entered into a scheme of arrangement u/s 391-394 of the Compani...
General Provisions of Tax Audit U/s. 44AB

The Tax Audit season has started and it’s the time when the Assessees rush to their Chartered Accountants (CA) to get their Tax Audit d...
Section 40(a)(ia) applies only to the amounts “payable” as on balance sheet date and not to the amounts already “paid” during the year.

Facts  The taxpayer, a partnership firm, derived income from the business of handling and transport of ship containers, customs clearing a...
S. 40(a)(ia): Special Bench verdict cannot be followed in view of High Court verdict

M/s. Alpha Projects Society P. Ltd vs. DCIT (ITAT Ahmedabad) In AY 2005-06, the assessee made payments to contractors & for professi...
Domestic Broadband charges & Lease Line charges now covered under TDS

01. TDS u/s 194J is required to be done for Royalty also w.e.f 13-7-2006. 02. Royalty had been defined under explanation 2 of se...
Service tax paid on taxable services used for export of goods at the post-manufacture stage — electronic refund through the Indian Customs EDI System -- Notification 52/2011-ST – review -- regarding.

F.No.354/66/2011-TRU Government of India Ministry of Finance Department of Revenue Central Board of Excise & Customs...
S. 40(a)(ia) TDS Disallowance applies only to amounts “payable” as at 31st March and not to amounts already “paid” during the year

M/s. Merilyn Shipping & Transports vs. ACIT (ITAT Visakhapatnam Special Bench) The assessee incurred brokerage expenses of Rs.38....