Non-compete amount received - revenue v/s capital receipt - At ...

Non-compete agreement payments now taxable u/s 28(va) of the Income Tax Act, effective April 1, 2003.

June 8, 2016

Case Laws Income Tax HC

Non-compete amount received - revenue v/s capital receipt - At any rate, with effect from 01.04.2003, by virtue of introduction of Section 28(va) to the Act, all monies received pursuant to a negative covenant become liable for the incidence of taxation, thus obliterating the distinction between the two that was available till then - HC

View Source

← Previous Next →

Non-compete amount received - revenue v/s capital receipt - At ...

Non-compete agreement payments now taxable u/s 28(va) of the Income Tax Act, effective April 1, 2003.

June 8, 2016

Case Laws Income Tax HC

You may also like:

Taxability of Non-Compete fees – post amendment in Sec. 28 with the insertion of Clause (va) to section 28, the Non compete fee of Rs. 5 crores received by the assessee...

Nature of payment of compensation in lieu of the non-compete agreement after retirement - whether non taxable in the hands of the assessee being a capital receipt -...

TP - Non compete fees - Estimation of income - assessee had signed non compete agreement - no justification for non payment of non compete fees to the assessee -...

Non-compete fees receipt - taxability under Section 17(3)(iii) or 28(va) as salary income or business income or not - profit in lieu of salary - assessee is an...

Late payments towards EPF and ESI under section 36(1)(va) - Contribution made prior to filing of the return of income u/s. 139(1) - Addition by way of adjustment while...

Non-compete fees paid by assessee were held to be revenue expenditure, deductible u/s 28(va) of Income Tax Act. Relying on Gujarat High Court's decision in Smartchem...

Non-compete fee receipt - consideration for transfer of the shares - Capital Gains or business income - In order to attract section 28(va)(a), there is no condition of...

Allowability of deduction for payment EPF, LWF and ESI after due date - to claim the benefit of deduction u/s 36(1)(va) payment has to be made before the due date...

Allowability of deduction – Delayed payment of PF & ESIC - By deleting Second Proviso to section 43B by Finance Act, 2003, it cannot be said that Section 36(1) (va) is...

Non-compete premium received by assessee is a business receipt assessable u/s. 28(va) - as in term of Article- 7 of DTAA any business income arising to the enterprise of...

Disallowance under Sec.36(1)(va) r/w Sec.2(24)(x) - assessee shall not be entitled to deduction of such amount in computing the income referred to in section 28 if such...

Duty demand u/s 28(1) of Customs Act, 1962, upon importer and transferee of license issued by DGFT - Liability of transferee for fraudulently obtained license - Levy of...

Failure to deposit PF & ESIC contribution of employees – By deleting Second Proviso to section 43B by Finance Act, 2003, it cannot be said that Section 36(1) (va) is...

Transfer of capital or transfer of business - Sale of equity shares of the private limited company - applicability of provisions of section 28(va) - transfer of...

Taxability of receipt u/s 28(va) - Payments on account of non-compete fees cannot be brought to tax u/s.45 - taxable as business profit... - AT

Quick Updates: