Year: 2016

The Chamber of Tax Consultants organized a public meeting in which several important issues relating to the tax and legal implications of demonetisation were discussed. The eminent tax experts who addressed the gathering also answered several questions of the audience. The videos of the meeting together with a transcript of the discussions is available for perusal. The discussion and the advice of the experts will prove invaluable to all tax payers and professionals who are grappling with the complexities of the demonetisation scheme

CA P. N. Shah, an eminent tax expert, has conducted a critical analysis of the Taxation (Second Amendment) Bill, 2016. He argues that while the Bill provides welcome clarity as to the taxation of, and the levy of penalty on, the deposit of unaccounted cash, declarants may face draconian consequences under the laws relating to Benami transactions, money laundering, foreign exchange etc. He urges the Government to issue appropriate clarifications so that all uncertainties are removed and demonetization becomes a rousing success

Dr. Raj K. Agarwal & Dr. Rakesh Gupta have explained the salient terms of the Taxation Laws (Second Amendment) Bill, 2016 which sees to assess the deposit of unaccounted high denomination notes in the bank and also to levy penalty thereon. The experts have expressed concern that the terms of the proposed law may discourage those who want to come clean. They have suggested that the Government should adopt a constructive, pragmatic and forward looking approach rather than being punitive

Shri Sunil Moti Lala, Advocate has prepared a compilation of 105 Important judgments on transfer pricing (33 cases), International Tax (6 cases) and Domestic Tax (66 cases) reported in October 2016. The author has meticulously and systematically classified the judgments into various categories to enable ease of reference. A PDF copy of the digest is available for download. He has also given the appeal numbers in all cases so as to enable the judgements to be retrieved from the website of the respective Court or Tribunal. The digest will prove invaluable to all practitioners of taxation law.

Advocate Rahul Sarda has made a critical analysis of the provisions of the the Taxation Laws (Second Amendment) Bill, 2016 which proposes to tax unaccounted deposits of cash in the wake of the demonetization scheme. He has identified certain shortcomings …

Pradhan Mantri Garib Kalyan Yojana: Last Call To Tax Evaders To Come Clean Read More »

CA Gautam Baid has prepared a bird’s eye-view review of the Taxation Laws (Second Amendment) Bill, 2016 in which he has identified all the core points that all tax professionals and tax payers have to be aware about

CA Jaiprakash Bairagra and CA Paras Dawar have written separate articles in which they have considered the question whether penalty under section 270A of the Income-tax Act, 1961 can be levied in a case where a person has deposited his unaccounted cash in his bank account and paid due tax thereon in the return of income for AY 2017-16. Both learned experts have given cogent reasoning in support of their respective conclusions

Dr. Raj K. Agarwal & Dr. Rakesh Gupta have dealt with the controversial question whether the deposit of unaccounted high denomination notes in the bank can attract penalty under section 270A of the Income-tax Act, 1961 even though the said deposit is offered to tax in the return of income. The experts have explained the entire controversy in the proper perspective

Advocate Rahul Hakani has conducted a meticulous analysis of the new law inserted by way of section 270A of the Income-tax Act, 1961 to levy penalty for under-reporting and misreporting of income. Apart from explaining the law in the clearest possible terms, the author has provide several practical examples to illustrate the precise working of the provision

Shri Sunil Moti Lala, Advocate has prepared a compilation of 115 Important judgments on transfer pricing (37 cases), International Tax (8 cases) and Domestic Tax (70 cases) reported in September, 2016. The author has meticulously and systematically classified the judgments into various categories to enable ease of reference. A PDF copy of the digest is available for download. He has also given the appeal numbers in all cases so as to enable the judgements to be retrieved from the website of the respective Court or Tribunal. The digest will prove invaluable to all practitioners of taxation law


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