Tax Management India. Com
Law and Practice  :  Digital eBook
Research is most exciting & rewarding
  TMI - Tax Management India. Com
Follow us:
  Facebook   Twitter   Linkedin   Telegram
Income Tax - Highlights / Catch Notes

Home Highlights August 2013 Year 2013 This

Addition u/s. 40A(2)(b) of the Income Tax Act purely on the ...


Income Tax Act Section 40A(2)(b): Director Remuneration Increase Taxable, Rs. 30 Lakhs Deduction Allowed.

August 16, 2013

Case Laws     Income Tax     AT

Addition u/s. 40A(2)(b) of the Income Tax Act purely on the ground that the assessee has increased remuneration to its Directors - Remuneration of Rs.30,00,000/- considered as taxable under the abovementioned section 40A(2)(b) - Deduction allowed - AT

View Source

 


 

You may also like:

  1. ICAI's Suggestions for Review of Income Tax Act, 1961: Tax Deducted at Source (TDS) prosecution proceedings are appropriate only where deductors deliberately do not...

  2. The ITAT Ahmedabad addressed the jurisdiction of the AO over a corporate assessee with income exceeding Rs. 30 Lakhs in metro cities. The tribunal confirmed that income,...

  3. The ITAT accepted the assessee's explanation regarding the WhatsApp chat and held that the provisions of section 69A cannot be invoked for the addition of Rs. 30 lakhs,...

  4. Finance Bill 2025 provides "unprecedented tax relief" with income tax rebate increased to Rs 12 lakh per annum (Rs 12.75 lakh for salaried class after standard...

  5. Contravention of Sections 8(1) and 9(1)(f)(i) of the Foreign Exchange Regulation Act, 1973 - receiving foreign exchange payments in 1996-97 through fake export documents...

  6. The Lok Sabha passed the Finance Bill 2025 with 35 government amendments, including the abolition of a 6% digital tax on online advertisements. This completes the lower...

  7. Disallowance of directors remuneration u/s 40A(2)(a) - A.O by misconstruing the scope and gamut of Sec. 40A(2)(a) had disallowed the entire amount of the directors...

  8. Disallowance u/s 40A(2) - payment of remuneration to whole time directors - Not disputed that the concerned directors are assessed to tax at the maximum rate of 30%. -...

  9. IT - Sec. 40A(2) - increase in remuneration to Directors - when CLB had approved the remuneration it could not be said that the expenditure was excessive or unreasonable - AT

  10. Addition u/s 40A (2) (b) - exponential increase in the Directors’ remuneration - CBDT Circular clearly states that no disallowance is to be made u/s 40A (2) in respect...

  11. Meaning of the term "Chief Commissioner" extended to include Director General of Income-tax and Principal Director General of Income-tax - Section 2(15A) of the...

  12. Director’s Remuneration disallowed – Exceptionally high remuneration paid - the increase in Directors’ remuneration to about 9 times cannot be justified on the basis of...

  13. The Income Tax Appellate Tribunal allowed the assessee's appeal against the reopening of assessment u/s 148A of the Income Tax Act. The Assessing Officer had alleged...

  14. Remuneration (salary, allowances, commission on company profits) paid to directors of a company is not liable to service tax under reverse charge mechanism. The Income...

  15. Approval of Resolution Plan - Whether the treatment of Income Tax dues in the Resolution Plan where they have been treated as Operational Creditor and offered only Rs....

 

Quick Updates:Latest Updates