Register Daily Newsletters My Bookmarks My Queries (D. Forum) My Replies (D. Forum) My Articles My Inbox (PM) Feedback/ Suggestions
Tax Management India. Com
Law and Practice  :  Digital eBook
Research is most exciting & rewarding

   For Sales / Support:
WhatsApp WhatsApp 9911796707
Case Laws Acts Notifications Circulars Classification Forms Manuals Articles News D. Forum Highlights Notes
Income Tax Bill, 2025     TaxTMI    TMI - e-Newsletter     TaxTMI    Export-Import Bank's $180M Credit Line for Offshore...     TaxTMI    Gold Bullion Import Quota: New Rules for TRQ...     TaxTMI    Government Securities Trading Rules Modified Under...     TaxTMI    Finance Ministry Revises AIDC Rates: Bourbon...     TaxTMI    Private Companies Get Extended Deadline Until June...     TaxTMI    Small Retailer Gets Final Chance to Restore GST...     TaxTMI    GST Refund Claim Rejection Invalid: Authority Must...     TaxTMI    Tax Reassessment Under Section 147 Invalid When No...     TaxTMI    Taxpayer's Section 10(26AAA) Sikkimese Exemption...     TaxTMI    Property Transaction Additions Under Section 69A...     TaxTMI    Assessment Order Under Section 56(1)(vii) For Rs....     TaxTMI    Tax Authority Sets 8% Profit Rate on Unexplained...     TaxTMI    Trust's Form 10AC Registration Already Final Under...     TaxTMI    Partnership Firm Wins Appeal Delay Condonation...     TaxTMI    Tax Department Must Share Documents Requested by...     TaxTMI    Latest Case-Laws     TaxTMI    Latest Notifications + Circulars     TaxTMI    GST Council Decisions     TaxTMI       Right Stop
  TMI - Tax Management India. Com
Follow us:
  Facebook   Twitter   Linkedin   Telegram
Income Tax - Highlights / Catch Notes

Home Highlights August 2012 Year 2012 This

Guarantee commission paid to the Directors of the Company – ...


Company Directors' Guarantee Commission Approved as Allowable Expense for Income Tax Deduction.

August 9, 2012

Case Laws     Income Tax     AT

Guarantee commission paid to the Directors of the Company – whole of the guarantee commission shall be allowed - AT

View Source

 

← Previous Next →

 

You may also like:

  1. The director's remuneration in the form of commission based on a percentage of the company's total profit is not subject to service tax under the reverse charge...

  2. ITAT ruled against double taxation of personal credit card expenses initially disallowed under s.37(1) in company's returns. Where company had already acknowledged...

  3. Input Tax Credit - Eligibility for Service Tax credit - commission paid to its directors, as per the company’s board resolution - it is clear that payment made to...

  4. ATTENTION: All DIRECTORS of ANY COMPANY Updating of Income Tax PAN details in MCA21 DIN DATA

  5. 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...

  6. Addition of commission expenses and franking charges - Allowable business expenditure or not? - The Tribunal acknowledged that the assessee had provided details of the...

  7. Offence under Section 277 - Whether all the Directors of the Company can be prosecuted for any violation of the Income Tax Act in terms by relying on the inclusive...

  8. The tribunal held that service tax under reverse charge mechanism is not leviable on commission paid to directors treated as salary in the company's books of accounts...

  9. Demand of service tax - providing services without consideration (free) to its associate companies - activity of giving corporate guarantee - The Show Cause Notice...

  10. The appeal filed by the assessee company was dismissed by the Income Tax Appellate Tribunal on the grounds that the Form 36 (memo of appeal) was not duly verified as per...

  11. The case pertains to the levy of service tax under the reverse charge mechanism (RCM) on rental payments made by a company to its directors for renting immovable...

  12. The circular addresses the entitlement of Input Tax Credit (ITC) by insurance companies on repair expenses for motor vehicles in reimbursement mode of claim settlement....

  13. Genuineness of Commission paid to Directors - the payment commission by assessee company is wholly and exclusively for business purposes and same is allowable - AT

  14. Disallowance being commission paid to Directors - expenses were incurred in accordance with the provisions of Companies Act. - The commission expenses were paid by...

  15. Cabinet approves Abolition of Institution of Income-Tax Ombudsman and Indirect Tax Ombudsman

 

Quick Updates:Latest Updates

What's New:
    Latest Case Laws
What's New:
    Latest Notifications
What's New:
    Latest Circulars
N: Customs (On - Arrival Movement for Storage and Clearance at Authorised...
F: User Seeks Excise Duty Refund via GSTN Portal After Manual Application...
F: Debate on GST Law: Section 75(5) Requires Four Personal Hearings, Not ...
F: Client Seeks Refund for Wrongly Paid Tax After DRC-07 Demand for FY 20...
F: Legality of Single Show Cause Notice Covering Multiple Financial Years...
F: Eligibility for GST Amnesty 2024: No Direct Path from Section 74 Order...
F: Timber firm owner challenges penalty for interstate sales; "Bill to Sh...
H: New Guidelines Require Listed Companies to Follow Industry Standards f...
H: Alternative Investment Funds Must Hold New Investments in Demat Form S...
H: Investment Account Statement Rules Changed: Monthly CAS Within 15 Days...
H: Premium Frozen Duck Meat Import Rules: 3-Star Hotels Get Direct Access...
H: CBIC Revises Tariff Values Under Section 14(2): New Rates for Palm Oil...
A: GST Department Loses Taxpayer Documents, Court Stays Recovery and Orde...
A: U.S. Trade Act's Section 301 Sparks Tensions with WTO Rules, Undermini...
A: Recovery Halted: Court Says No Action During Pending Appeal Under Sect...
A: Personal Hearing Required Before Adverse Decision Under CGST Act, Even...
A: Understanding Trademark Types: Word, Device, Combination, Service, Cer...
A: Resolution Plan Approval Binds All Parties, Extinguishes Unlisted Clai...
A: Are Trade Wars Signaling De-globalization or Just Shifting Global Trad...
A: Importers can appeal excess Customs Duty within 60 days under Section ...
A: Forklift Safety in Indian Factories: Key Regulations and Compliance Un...
A: High Sea Sales: Boost Tax Efficiency by Selling Goods in Transit; No G...
A: Street Vendors Must Comply with Noise Pollution Rules, 2000 to Avoid L...
H: Tax Demand Stayed For Two Weeks Following Finance Ministry Guidelines ...
H: Assessment Orders Against Merged Companies Declared Void Despite Parti...
H: Interest Charges Under Section 234 Eligible for DTVSV Scheme Declarati...
H: Small Fruit Vendor's Penalty Under Section 272A(1)(d) Deleted Due to P...
H: Assessee Wins on Foreign Commission and Grant Amount; Multiple Issues ...
H: Trust Serving Specific Community Granted Section 12A Registration as A...
H: Taxpayer Cannot Claim Foreign Tax Deduction Under Section 37(1) Beyond...