Home Highlights January 2015 Year 2015 This

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1. TDS returns - Due dates - Rule 31A prescribing due dates for furnishing TDS statements amended

2. The High Court examined the jurisdiction of the Assessing Officer (AO) and the prescribed income-tax authority to issue notices u/s 143(2) of the Income Tax Act. It held...

3. Amendment in special tax regime for REIT & INVIT - To avoid dual Non-taxation in the hands of unit holders as well as business trust on any income distributed by such...

4. The circular, addresses the amendment to the Master Circular for Infrastructure Investment Trusts (InvITs) regarding board nomination rights for unitholders. It...

5. The circular dated August 6, 2024, amends the Master Circular for Real Estate Investment Trusts (REITs) regarding board nomination rights to unitholders. The amendment...

6. Regulations permit REITs to implement unit-based employee benefit schemes. Units can be issued, transferred or acquired by employee benefit trust for such schemes....

7. Additional income offered on account of excess stock during the course of survey - business income of the assessee OR income from other sources liable to be taxed at a...

8. Revision u/s 263 - Classification of rental income - House property v/s business income - The Appellate Tribunal observed that the Assessee is primarily engaged in...

9. The regulations provide a comprehensive framework for implementing unit-based employee benefit schemes by investment managers of Infrastructure Investment Trusts...

10. Reopening of assessment - income arising from the revocable transfer of assets - taxability in the hands of trust or transferor/settler - The Appellate Tribunal observed...

11. The Income Tax Appellate Tribunal (ITAT) examined the taxability of income from a discretionary trust u/s 164(1) read with clause (ii) of Explanation 1 to Section 164 of...

12. Characterization of receipts - Treatment of interest income from staff loans and advances, interest income from other loans and advances and miscellaneous income -...

13. Charitable trust - if the business is incidental to the attainment of the objectives of the trust and separate books of accounts are maintained by such trust or...

14. This notification amends the Securities and Exchange Board of India (Real Estate Investment Trusts) Regulations, 2014. Key changes include: Modifying timelines for...

15. Denial of exemption u/s 11(2) was contested due to the trust's failure to file Form No. 10 within the due date specified u/s 139(1) owing to technical issues. The...