CA Abhishek JainAug 16, 202056 minOmission of Section without saving clause of General Clauses Act, treated as Clause never existedRecently in the case of Raipur Steel Casting India (P.) Ltd., the ITAT has decided that in case the section has been omitted without any ...
CA Abhishek JainAug 1, 202010 min“Associated Enterprises”- decoding the evolving law of Transfer PricingIntroduction Chapter X of the Income-tax Act contains the provision to check there is no profit shifting by the MNCs. to the group locate...
CA VeenakshiJul 28, 20201 minFuture of GST Returns The new system of GST returns was supposed to be launched by 1st October this year. But instead of rolling out a new GST Return filing mo...
CA Abhishek JainJul 25, 20204 minDeemed Dividend under section 2(22)(e): Taxable again in the hands of shareholders’?With the amendment introduced by the Finance Act, 2020 deemed dividends are no longer taxable under section 115-O. So, in accordance with...
CA Abhishek JainJul 20, 20201 minCBDT issues clarifications to extend various time limits under direct tax lawsIn view of the spread of pandemic COVID-19 across many countries including India, on 31 March 2020, the President promulgated the Taxatio...
CA Abhishek JainJul 20, 20201 minTime- limit for Assessment Completion Analysis of Section-153The Section 153 of the Income tax Act, 1961 read as below:- 153. (1) No order of assessment shall be made under section 143 or section 14...
CA Abhishek JainJul 20, 20206 min“Cess” Based on Basic Tax Can Be Claimed As DeductionEducation cess is not disallowable under section 40(a)(ii) of the Income tax Act, 1961 Education cess is allowable expenditure as word “c...
