Deduction of Tax At Source Check Points in Discharge of Responsibility of Tax Deduction at Source
The Rajkot Bench of the Tribunal in the case of Essar Oil Ltd. vs. Income-tax Officer (77ITD92) point out to…
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Today's
Unwarranted additions- Need for Provision to Annex Computation of Income and Supporting Notes with ITR and Tax Audit Report ......Read More
Yesterday's 54F exemption is protected even in multiple ownership of residential properties ......Read More
Yesterday's 54F exemption is protected even in multiple ownership of residential properties ......Read More
Employee Advances- Write Off Claim
Often assessees make mistakes in making a choice of section under which a deduction is admissible and therefore prefer alternate…
......Read MoreEffect of Commuting a Debt
In the case of L.P. Investment Ltd. vs. Income-tax Officer (77ITD1) the assessee sold 50% interest in a property to…
......Read MoreSuperannuation Fund Contributions (SAF)- Not Taxable for Period Upto 01.04.1995
SAF contributions are subject to exemption u/s 10(13) on the satisfaction of certain conditions such as receipt of such sums…
......Read MoreExport Profits Deduction-Treatment of Other Incomes
Once again the Bombay High Court in the case of CIT v. S G Jhaveri Consultancy Ltd. (119TAX735) held that…
......Read MoreExemption to Spouse
If the house property which was used for residential purpose by the assessee or his parent is sold and from…
......Read MoreRemodeling, renovation and reconstruction Costs- Capital in Nature
In Assistant Commissioner of Income-tax vs. Nirmal Warehousing Agency (77ITD1) the assessee-firm converted the leased premises held as a warehouse…
......Read MoreInterest Free/Concessional Loan
On March 23, 1995, the Central Board of Direct Taxes (for short the “C. B. D. T.”), informed the Chief…
......Read MoreGifts to employees
In the new rules it is provided that gifts in kind to employees would not be taxed upto an aggregate…
......Read MoreCharitable Purpose – Religious Objects
In order to qualify for exemption a trust must pursue charitable objects. Charitable object is defined to mean relief of…
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