These articles are uploaded by our esteemed readers. If you would like to publish an article on any legal topic, please use this form to upload it
Direct Tax Vivad Se Vishwas Scheme 2024 : Salient Features
By Advocate Narayan Jain and CA Dilip Loyalka : Direct Tax Vivad se Vishwas Scheme, 2024 (DTVsV Scheme, 2024) is a scheme notified by the Government of India on 20th September, 2024 to resolve pending appeals in case of income tax disputes. The DTVsV Scheme, 2024 was enacted vide Finance (No. 2) Act, 2024. The said scheme shall come into effect from 01.10.2024. It… Read More ...
Annul vs. Set Aside: Judicial Interpretations & Legal Implications
By CA Milind Wadhwani: The terms "annul" and "set aside" are often used interchangeably in legal contexts, but they have distinct meanings. This article aims to clearly differentiate between the two. Read More ...
Direct Tax Vivad se Vishwas Rules, 2024. NOTIFICATION dated the 20th September, 2024
By itatonline: Direct Tax Vivad se Vishwas Rules, 2024 Read More ...
Finance Bill 2024 (2): Critical Comments
By Dr. K. Shivaram, Senior Advocate & Mr. Shashi Bekal, Advocate: On July 23, 2024, the Hon’ble Union Finance Minister placed the Budget before the Parliament. The Finance Bill has proposed several amendments for Direct and Indirect taxes. This article is aimed at analysing some of the important proposed amendments to the Income-tax Act, 1961 (Act) Read More ...
Compensation Under RFCTLRR Act, Book Profit US 115JB and ITR-6
By CA Anilkumar Shah: The exemption granted under RFCTLRR Act encompasses the exemption under the Income Tax Act, 1961 and Circular 36 of 2016 has recognised this. However, there is no provision under the Income Tax Act, 1961 to provide for this exemption. This creates a typical issue under the Act as well as under the ITR utilities. The… Read More ...
CORPUS FUND AND INVESTMENT u/s 11(5) IN ITR7
By CA Anilkumar Shah: The ITR7 validation rules pose many issues in cross tallying the Corpus/Own Funds, Investment u/s 11(5) and reconciliation of them. The present article gives a how to do it solution in a very crisp and precise manner. This also includes the columns under Form 10B which are linked to ITR7. Read More ...
ANALYSIS OF PROVISIONS OF SECTIONS 50C & 50CA UNDER INCOME TAX ACT, 1961
By FCS Deepak P. SIngh[ B.Sc., LLB, FCS, FIII, CIAFP]: Dear Friends, As you are aware that provisions of Section 50C are applicable for calculation of capital gain on transferor of immovable property such as land or building or both. SECTION 50C(1) provides that where the consideration received or accruing as a result of the transfer by an assessee of a capital asset, being land… Read More ...
ITC ON GST PAID ON REPAIR OF VEHCILES BY INSURANCE COMPANIES
By FCS Deepak P. SIngh[ B.Sc., LLB, FCS, FIII, CIAFP]: Dear Friends, As you are aware that an insurance company insures various types of motor vehicles and indemnify financial losses in case of happening of any event as may be specified. There are various types of products related to motor vehicles by various insurance companies in the market. These insurance companies generally pay repair charges… Read More ...
GST IMPACT ON INSURANCE SECTOR
By FCS Deepak P. SIngh[ B.Sc., LLB, FCS, FIII, CIAFP]: Dear Friends As you are aware that Indian Insurance Market is the 10th largest in the world and is poised to become the 6th largest by 2032, ahead of Germany, Canada, Italy, and South Korea. The insurance regulator, IRDAI, has taken up the mission of universal insurance, which is expected to lead to a significant… Read More ...
BUDGET 2024 & CHANGES FOR LLP AND PARTNERSHIP FIRMS
By FCS Deepak P. SIngh[ B.Sc., LLB, FCS, FIII, CIAFP]: BUDGET 2024 & CHANGES FOR LLP AND PARTNERSHIP FIRMS Dear Friends, The BUDGET -2024 has brought various changes in Direct and Indirect Taxation in India. The Government has changes various provisions detrimental to the ease of doing business in India. The Government has provided benefits to all sectors through Budget-2024. The aim of government is… Read More ...