Before a business entity commences its operations, funds may be temporarily parked in short-term deposits with a view to earn…
With soaring rents and high property values, tax payers may have to face a substantial burden even in respect of…
Charitable trusts are granted exemption for their income under section 11 of the Income-tax Act, 1961. This tax benefit is…
The direct tax proposals contained in the Finance Bill 2008 pertaining to individuals are considered to be the best in…
The court should endeavour to interpret the provisions of a statute in a manner that it will achieve the object…
When a person dies, the executor of his estate becomes a tax payer in a representative capacity. This would mean…
Section 10(33) of the Income-tax Act, 1961, provides that income received by way of dividend as referred to in section…
An interesting case on this point arose before the Chennai Bench of the Income-tax Appellate Tribunal in the case of…
Section 28, Explanation 2 of the Income-Tax Act, 1961, enacts that where speculative transactions carried on by an assessee are…
When an immovable property is transferred, the date of such transfer becomes critical for various reasons.
The tax authorities have their own network of collecting information and gathering evidence. Efforts in this regard have been intensified…
Diversion of income by overriding title to sub-partnership confers upon it the attributes of a partner in so far as…
Non-corporate assessees are required to obtain a tax audit report from a chartered accountant in certain cases.
The benefit of indexation of the cost of acquisition of long-term capital assets, other than shares and debentures, would be…
The element of commercial expediency is relevant for deciding whether the commission or bonus paid to employees is deductible or…
When a partner decides to gift a part of his share in the partnership firm, an interesting question arises with…
There are several beneficial provisions in the Income-tax Act, 1961 which promote investment in residential properties, having regard to the…
While every person likes to earn income, sometimes he disowns his right over the same or even ownership of his…
