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 July 2019 Year 2019 This

Accrual of income - Revenue declaration in respect of expired ...


Income Recognition for Expired Pre-Paid Cards: Include Unutilized Talk Time in Annual Income for Tax Compliance.

July 22, 2019

Case Laws     Income Tax     HC

Accrual of income - Revenue declaration in respect of expired pre-paid cards - Rendering of Services - Income recognition - AO would ensure that the “the unutilised talk time has been accounted for and included in the receipt of the year in which the amount had lapsed and has forgone.

View Source

 


 

You may also like:

  1. Liability to deduct tds u/s 194H - commission or discount - sale of SIM cards / pre-paid talk time - What has been effected by way of these sale transactions is sale of...

  2. Grossing up of the expenditure with TDS amount for claiming deduction - Non reimbursable tax paid to Master Cards/Visa Cards included under the head “Operating Expenses“...

  3. Service Tax Liability on SIM Cards / Pre paid Cards – payment of service tax by the BSNL (i.e service recipient) - demand set aside. - AT

  4. Transitional credit - Unutilized amount of Advanced VAT paid - The court found that if the amount of advance tax paid under the VAT regime remained unutilized, it should...

  5. Extension of time in Filing of annual return by Limited Liability Partnerships (LLPs) - Circular

  6. Transponder, Muxponder, and Optical splitter cards are classified under Customs Tariff Item (CTI) 8517 70 90 as 'parts' and not under CTI 8517 62 90 as 'other...

  7. Instruction No. 12/2024-Customs, dated 01-05-2024, addresses the review of the necessity of G-Card holders at Customs stations and the conduct of G-Card examinations as...

  8. Classification of supply - supply of goods or supply of services - gift vouchers / gift cards - The time of supply of such gift vouchers / gift cards by the applicant to...

  9. Income recognition from contract activity - recognition income on reimbursement - AS-7 - there is no change so far as “cost based” percentage completion method in...

  10. The case pertains to the jurisdiction of impugned orders under the U.P.G.S.T. Act, 2017, and the time limitation u/s 73 and Section 44 of the Act. The key points are:...

  11. Whether the introduction of the new, comprehensive definition of “credit card, debit card, charge card or other payment card service“ vide section 65 (33a) read with...

  12. Income from house property - Deduction u/s 23(1) - Annual mixed use charges paid by the assessee to Municipal Corporation - The said charges is in the nature of...

  13. This is a notification by the Securities and Exchange Board of India (SEBI) regarding the renewal of recognition granted to the Metropolitan Stock Exchange of India...

  14. Validity of order beyond the scope of Show cause notice - Statutory time limit for filing of appeal already expired - Though the impugned order was passed on 10.05.2022...

  15. Import of software - stay - duty of customs paid at the time of import - they paid vat at time of sale - Prima facie, the appellant is liable to pay service tax - AT

 

Quick Updates:Latest Updates