Home Highlights November 2016 Year 2016 This

You may also like:

1. Deduction u/s. 24(a) equal to 30% - Rental income from fixture, fittings and amenities - separate agreements for let out of the property and for providing amenities -...

2. Standard deduction and interest paid on housing loan - Once the income is assessable under the head house property, consequent deductions being standard deduction u/s...

3. Renting of terrace for installation of mobile antenna - taxable as income from House Property - deduction of 30% u/s 24(a) allowed - AT

4. Classification of Alloy consisting of 60.6% of Copper and 13.90% Nickel - ‘Nickel’ silver alloy in question, can not be treated as Nickel alloy but has to be treated as...

5. Valuation of imported goods - purchase of urea by the Appellant from the Government of India on High Sea Sale - neither the amount of ₹ 17/- per MT paid by the...

6. Accrual of income u/s 2(24) - Scope of Amendment to Section 2(24) by the insertion of sub-cause (xviii) - taxability of incentives given by the Government - the...

7. Finance Act, 2023 + Union Budget 2023-24

8. Income accrued in India - Shipping income earned in India - India Singapore DTAA - income is exempt in the singapore - AO has made an attempt to deny the benefit of...

9. Exemption u/s 11 - renal income - standard deduction @30% vs actual expenditure - once income of a trust/institution is computed u/s 11, whatever income derived from the...

10. Valuation of imported goods - Unwrought / Unrefined Zinc - enhancement of value - rejection of transaction value - The importer declared the goods as...

11. Classification of imported goods - I-MAS POs, which is Nickel Hydroxide compound - The presence of cobalt and graphite does not render the product suitable for any...

12. Valuation - inclusion of reimbursement of expenses in assessable value - pure agent services - this amount is not includable in the assessable value for charging service tax - AT

13. Valuation - inclusion of subsidy in assessable value - no justification for inclusion in the assessable value, the VAT amounts paid by the assessee using VAT 37B Challans - AT

14. Leasing of property - valuation - nature of charges received towards amenities provided under different agreements - all are part of rent - eligible for statutory...

15. Assessable value – As per Rule 5 of the Central Excise (Valuation) Rules, 2000, the transportation charges shown separately in the invoice or charge separately are not...