Friday, 28 December 2018

CBDT releases Explanatory Notes to provisions of the Finance Act, 2018

The Central Board of Direct Taxes (CBDT) has released the explanatory notes to the provisions of the Finance Act, 2018. These explanatory notes describe the substance of the provisions/amendments made by the Finance Act, 2018 relating to Income-tax.

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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...