Income Tax

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July 22, 2023

Aircraft Leasing IFSC Units aren’t Liable to Deduct Tax at Source on Dividends Paid Among Themselves | CBDT

Notification No. 52/2023, dated 20-07-2023 … Continue reading “Aircraft Leasing IFSC Units aren’t Liable to Deduct Tax at Source on Dividends Paid Among Themselves | CBDT”

Blog, News, Income Tax

July 21, 2023

[Opinion] Earn-out Arrangements in Mergers and Acquisitions – A Burnout?

Sandeep Jhunjhunwala – [2023] 152 … Continue reading “[Opinion] Earn-out Arrangements in Mergers and Acquisitions – A Burnout?”

Blog, News, Income Tax

July 20, 2023

CBDT Extends Scope of Non-applicability of Sec. 56(2)(x) to Fund Relocation to IFSC

Notification No. 51/2023, dated 18-07-2023 … Continue reading “CBDT Extends Scope of Non-applicability of Sec. 56(2)(x) to Fund Relocation to IFSC”

Blog, News, Income Tax

July 20, 2023

Bank Can’t Claim Shortfall u/s 36(1)(viia) While Receiving Sum from Govt. After Loan Waiver | ITAT

Case Details: Virudhunagar District Central … Continue reading “Bank Can’t Claim Shortfall u/s 36(1)(viia) While Receiving Sum from Govt. After Loan Waiver | ITAT”

News, Blog, Income Tax

July 19, 2023

CBDT Amends Rule 21AK to Cover Offshore Derivative Instrument Income of NRs

Notification No. 50/2023, dated 17-07-2023 … Continue reading “CBDT Amends Rule 21AK to Cover Offshore Derivative Instrument Income of NRs”

Blog, News, Income Tax

July 19, 2023

NRIs with Inoperative PAN are Requested to Intimate Residential Status to AO | CBDT

News, dated 18-07-2023 Non-resident Indians … Continue reading “NRIs with Inoperative PAN are Requested to Intimate Residential Status to AO | CBDT”

Blog, News, Income Tax

July 19, 2023

Forfeiture of Advance Money Due to Buyer’s Non-performance is a Non-taxable Capital Receipt u/s 51: ITAT

Case Details: ACIT v. Ahmad … Continue reading “Forfeiture of Advance Money Due to Buyer’s Non-performance is a Non-taxable Capital Receipt u/s 51: ITAT”

Blog, News, Income Tax

July 18, 2023

[Opinion] A Chain of Amendments in TCS Provisions – Enhanced TCS Rates on Certain Overseas Remittances

CA Sudeep Das & CA … Continue reading “[Opinion] A Chain of Amendments in TCS Provisions – Enhanced TCS Rates on Certain Overseas Remittances”

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July 18, 2023

HC Justified Reassessment on Claim of Sec. 10(38) Exemption for Family-promoted Co.’s Share Sale

Case Details: Munjal M Jaykrishna … Continue reading “HC Justified Reassessment on Claim of Sec. 10(38) Exemption for Family-promoted Co.’s Share Sale”

Blog, News, Income Tax

July 17, 2023

CBDT Amends Notification Exempting NRs from ITR Filing Incorporating Amended Definition of ‘Investment Fund’

Notification No. 49/2023, dated 14-07-2023 … Continue reading “CBDT Amends Notification Exempting NRs from ITR Filing Incorporating Amended Definition of ‘Investment Fund’”