Gifts to employees
In the new rules it is provided that gifts in kind to employees would not be taxed upto an aggregate…
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Today's
Wrong reopening ......Read More
Yesterday's In no way the AO has power to question arm’s length pricing in unrelated party transactions ......Read More
Yesterday's In no way the AO has power to question arm’s length pricing in unrelated party transactions ......Read More
Credit Card and Club payments
Realizing the fact that such payments are often made in the course of entertainment of costumers, clients or constituents the…
......Read MoreFurnishing Scheme- Completed Year of Use
The terms completed year of use shall mean 365 days from the date of purchase of asset. For instance if…
......Read MoreFurnishing Scheme- Electronic Items Assets Defined
The CBDT in their Circular No. 15/2001 dated 12.12.2001has clarified that the higher rate of depreciation is prescribed only in…
......Read MoreInterest Free or Concessional Loans – Case Of Partial Retrospective Operation
The Board has clarified that the even sums outstanding on 01.04.2001 or 01.10.2001 are to be considered for the purpose…
......Read MoreValuation of Perks Series I
The CBDT in their Circular No. 15/2001 dated 12.12.2001has issued directions and clarifications to the employers as to the computation…
......Read MoreRelief u/s 89
Section 89 is meant to provide relief from tax paid on arrears of salary received in lump sum on the…
......Read MoreInterest free loan –Does the Benefit Accrue in All Cases
The Supreme Court in the case of V.M. Salgaocar and Bros. Pvt. Ltd. Vs. Commissioner of Income-tax (243ITR383) held that…
......Read MoreMD Commission
In the case of Commissioner of Income-tax Vs. Seshasayee Bros. (P.) Ltd. (239ITR471) the assessee who entered into a managing…
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