Assuming the assessee is an individual architect, the architecture firm should deduct tax at the rate of 10 per cent on the professional services rendered by the assessee as the same would be a more appropriate classification. As per section 44AA of the Income- tax Act, 1961 (Act), an Architect is a professional. Therefore, section… (read more)

The HUF will be managed by Mrs. N as the Karta. Reliance is placed on the decision of the Hon’ble Delhi High Court in the case of Mrs Sujata Sharma v Shri Manu Gupta & Ors CS (OS) No. 2011/2006 wherein it was held that women have equal rights in HUF property and also the… (read more)

Service tax on Mining Royalty Entry 6 of Table to Notification No 30/2012-ST dated 20.06.2012 provides for 100% liability to be discharged by service recipient on RCM basis in respect of services provided or agreed to be provided by Government or Local Authority. The issue, whether the Mining Royalty paid to State Government is towards… (read more)

Normally double taxation under taxation laws is required to be avoided. There are judgments under Maharashtra Value Added Tax Act,2002, like in case of Four Seasons Wines Ltd. vs. The State of Maharashtra (MVAT A.No.5 of 2017 dated. 4.7.2017)(Bom) by Hon. Bombay High Court. In above case, the facts were that the contractee was liable… (read more)

Section 54 of the Income-tax Act, 1961 (Act) was inserted vide Finance Act, 1982 (1982) 135 ITR 25 with a view to encourage house construction. Further, the proviso to section 54(1) of the Income-tax Act, 1961 was amended vide Finance Act, 2000 (2000) 243 ITR 65. According to the Memorandum explaining the Finance Bill, 2000… (read more)

The Hon’ble Supreme Court in the case of Mohd Laiquiddin v. Kamala Devi Misra (Dead) by L.Rs. and Ors. (2010) 2 SCC 407 placed its reliance on the decision of the Hon’ble Madras High Court in the case of S. Parvathammal (Smt. ) v. CIT [1987] 163 ITR 161 (Mad) (HC) and held that when… (read more)

The grant of franchise will amount to ‘service’ under GST as per clause (f) in para 5 of Schedule II. In case of service the time of supply is to be decided as per Section 13. Section 13(2)(a) reads as under : “13. Time of Supply of Services.— (2) The time of supply of services… (read more)

There seems to be technical issues in the portal of the Income tax Department . The assessee may contact the Designated Authority or may write to the Chairman CBDT . The assessee may also write to Shri S.R Wadhwa Advocate ,Chairman Representation committee of the AIFTP ,who is interacting with the CBDT on day to… (read more)

The royalty falls in service category and therefore ITC on same will be ITC on input service. Though there are four queries, the sum and substance is that whether refund is possible on input services under inverted duty structure? As mentioned in the query, the Hon. Supreme Court in case of Union of India vs.… (read more)

Section 55 and the head of capital gains refers to the transfer of a capital asset. A rural agricultural land is not a capital asset under the scheme of Income-tax Act, 1961. Therefore, FMV of NA on the date of conversion may be taken into consideration, also the period of holding will be considered from… (read more)