Home Highlights April 2016 Year 2016 This

You may also like:

1. Disallowance u/s 40(a)(ia) - TDS u/s 194C - payments towards the hiring charges of cranes - a simpliciter payment towards hiring charges of cranes cannot be brought...

2. Proposed amendment enables recovery of existing liabilities under Black Money (Undisclosed Foreign Income and Assets) and Imposition of Tax Act, 2015 from seized assets...

3. Deduction of Tax u/s 194C - Payment of Hiring of Cranes - The provisions of section 194C were only applicable for such payments and not provisions of section 194-I - AT

4. The summary highlights the key difference between the scope of total income under the Income Tax Act and the Black Money (Undisclosed Foreign Income and Assets) and...

5. The High Court held that by virtue of the non-obstante clause in the Kerala General Sales Tax Act, 1963 (KGST Act), it creates a first charge on the property of the...

6. Wealth Tax Liability - Whether Club can be treated as "Association of Person"? - Charging provisions under the Income Tax versus under the Wealth Tax - This argument of...

7. There is no Sales Tax / VAT liability on Transfer of the right to use any goods in the present case of hiring the motor vehicles/cranes - the contracts are not covered...

8. Validity of reopening of assessment u/s 147 - CIRP proceedings - The proceedings under the Insolvency and Bankruptcy Code, 2016 (IBC) cannot be pressed into service to...

9. The assessee company is eligible to claim Foreign Tax Credit (FTC) against its Minimum Alternate Tax (MAT) liability u/s 115JB of the Income Tax Act for taxes paid in...

10. Depreciation on the Cranes given on lease to Oil India Limited @ 30% disallowed - according to the Revenue, such assets were not used for hire and, therefore, are not...

11. Direct Tax Vivad se Vishwas Act - VSV Act - settlement of the dispute of petitioner for assessment year 2015-16 without withdrawing the interest already granted under...

12. Income tax liability of employees - Remission of income tax liability borne on behalf of the employees - it is also possible that earlier years the assessee has not...

13. TDS u/s 195 - payment for time charter higher charges are Royalty u/s 9(1)(vi) - The Tribunal held that the payments made by Jaisu Shipping Co. Pvt. Ltd. for hiring...

14. The hire charges received by the assessee under the hire purchase agreement is an interest on loan and liable to tax under Interest Tax Act, 1974 - HC

15. TDS u/s 194A - non deduction of tds on payment of hire charge - The payment of hire charges does not fall under the term interest as defined in section 2(28A) of the Act...