April 3, 2018

Agreement To Avoid Double Taxation Between India and Hong Kong

“Made in China” is a phrase many are familiar with.  With companies from China, Hong Kong (newly acquired by China) and other countries with businesses set […]
March 21, 2018

Revised Procedure for Issuing Notices u/s 142(1)

The past decade has seen a major shift in the way things are done and processed.  With so many processes moving online, it was no surprise […]
March 20, 2018

Procedure for Filing Form 67 When Claiming Foreign Tax Credits

Nobody likes paying taxes.  We all understand its necessary for the government to continue taking care of our basic necessities, like water, roads, sanitation, etc.  But […]
February 13, 2018

GST on Services not to be Included in TDS – CBDT Clarifies

The Ministry of Finance had come up with a circular few years back in 2014, clarifying the amount, on which to calculate the TDS, to be […]
February 13, 2018

ITAT allows Multiple Year Exemption u/s 54F for an under Construction House

Taxes arising from capital gains often become a reason for conflict between taxpayers and income tax authorities. When it comes to the sale of any property […]
February 13, 2018

CBDT Proposes Mechanism for Self-Reporting on Income & Taxes

The CBDT had proposed a draft notification for creating a mechanism for self-reporting of the estimated current income and taxes. The assessees for such reporting are […]
February 13, 2018

Late Penalty for Filing and Payment Delays u/s 234A and 234B Amended

The income tax department can charge penalties for persons who fail to file their return of income by the due date. Under section 234A the assessee […]
February 13, 2018

Relief for Home Buyers under GST

Anybody who booked or made partial payments for their under construction properties before July 1st, 2017 should not face any increased costs under the new GST […]
February 13, 2018

New Exemption Limit for Agriculturists on Cash Transactions u/s269ST

Exemptions to many taxation and income laws have always included farmers, including section 40A(3), which disallows any cash transactions (i.e. not made by cheque/electronic/draft) above 10,000 […]
February 13, 2018

NRI Income Non-Taxable in India if Stay Abroad Exceeds 182 Days

With companies stretched around the globe, it is not uncommon for employees to travel abroad or be deputed for work related purposes. A scenario which is […]