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 May 2016 Year 2016 This

PMS expenses paid to portfolio managers being management ...

Case Laws     Income Tax

May 5, 2016

PMS expenses paid to portfolio managers being management expenses incurred with respect to securities / funds of the assessee being managed by portfolio managers are not allowable as deduction u/s 48 from the full value of consideration on sale of securities received or accruing to the assessee - AT

View Source

 


 

You may also like:

  1. Portfolio Management Services (PMS) fees paid is eligible for deduction while computing Short Term Capital Gain

  2. SEBI has issued a circular regarding the collective oversight of distributors for Portfolio Management Services (PMS) through the Association of Portfolio Managers in...

  3. The assessee, engaged in the business of shares and securities, claimed administration expenses, including Portfolio Management Service (PMS) expenses, against capital...

  4. Deduction u/s 10A - Adhoc disallowance of professional expenses, electricity charges and miscellaneous expenses - It is not in dispute that the aforesaid administrative...

  5. Sale of Shares, Units and Securities through Portfolio Management Services(PMS) - taxable under the head capital gains and not under the head income from business or...

  6. Demand of service tax - reimbursement expenses - The appellant had agreed to pay a fixed monthly amount to HLL as a consideration for management services - The...

  7. The expenses incurred are in the nature of employee benefits, though paid under secondment agreement, in respect of persons working for the assessee - Expenses are...

  8. Disallowance of tour and travel expenses - no details were forthcoming from the assessee to substantiate these travel and conveyance expenses and justify that these...

  9. Addition u/s 69C - Unexplained expenses/premium - assessee did not furnish the source of payment of such expenses/premium - The case of assessee throughout the...

  10. Computation short term capital gain (STCG) - allocation of Portfolio Management Services (PMS Charges) towards Dividend and interest income - the basis of allocation of...

  11. Allowable business expenses - There is difference between commencement of the business and setting off of the business. All the expenses incurred pre-commencement are to...

  12. Ad-hoc disallowances of the expenses - the expenses claimed for the purpose of the business cannot be disallowed merely on the reasoning that these expenses were...

  13. Allowability of development expenses incurred in respect of land sold - assessee failed to prove that the said charges was paid for removal of encroachments have been...

  14. Section 44C refers to common head office expenses and cannot encompass the expenses exclusively incurred by the expenses incurred by head office employees exclusively...

  15. Deduction on account of portfolio management (PMS) fees allocated towards the Short term capital gains on sale of shares u/s 48 - the same not being an expenditure...

 

Quick Updates:Latest Updates