Blog Detail
C. A. SANDEEP KANOI
http://kanoisandeep.blogspot.com
This site contains recent circular, Notification, press release from Income Tax department,Income Tax Forms in Excel Format and Articles on Income Tax which Includes Appeal Filing, TDS, PAN, ITR, Etc.
- Author: Sandeep Kanoi
- Listed in: Law & Legal Business
- Tags: legal finance accounts tax audit company law
Recent Posts
Shortage of tax experts led to a sharp rise in salary of tax experts
An acute shortage of trained tax professionals coupled with a changing and complex tax landscape has led to a sharp rise in the pay packets of such experts with the average salary more than doubling in the past year alone, according to senior... [[ ...
Contractors cannot claim deduction on profits from infrastructure project
The Income Tax Appellate Tribunal has held that contractors, while calculating their income-tax liability, cannot claim deduction on profits from an infrastructure project. Section 80-IA (4) of the Income-tax Act allows deduction in respect of... [...
ICAI denied media reports that is has withdrawn the notice issued to Price Waterhouse
Media reports on Wednesday said that ICAI had withdrawn the showcause notice issued to Price Waterhouse for alleged violation of norms. The Institute of Chartered Accountants of India (ICAI) on Thursday denied media reports that it has withdrawn an.....
Tax treatment of Gratuity under the Income Tax Act, 1961
Gratuity’ is a retirement benefit. Gratuity Act, 1972 act envisages in providing retirement benefit to the workman who have rendered long and unblemished service to the employer. Gratuity is a reward for long and meritorious service. Earlier, it wa...
Restrictions on outbound remittance of royalties and lumpsum fee for transfer of technology to be relaxed
Under the existing regulatory norms, remittances made by Indian residents to a foreign collaborator are permissible without any prior regulatory approvals to the extent of a lumpsum fee of USD 2 million and royalty payment of 5% on domestic sales... ...
Even under Rule 8D of S. 14A, disallowance can be made only if there is actual nexus between tax-free income and expenditure
The assessee earned dividend income on shares which was exempt from tax. The AO took the view that the investment in shares was made out of borrowed funds on which interest expenditure was incurred and consequently made a disallowance u/s 14A. This.....
