The article in this issue of Direct Tax Amicus examines the question as to whether after the enactment of new reassessment law from 1 April 2021, the reassessment notice can still be issued under the old law till 30 June 2021 and whether the old law remains alive for such cases because of the Taxation and Other Laws (Relaxation and Amendment of Certain Provisions) Act, 2020 and subsequent notifications. The article notes that the issue has been contested before various...
The amendment by Finance Act, 2021 seeks to tax notional interest on Employee’s contribution to specified provident fund, exceeding the threshold limit made on or after 1 April 2021. Recently, the Income Tax Rules have been amended to lay down the manner of computation of taxability of interest.
The article in this issue of Direct Tax Amicus attempts to analyze the aspect of determining the year of taxability of capital gains arising out of the transfer of immovable property under Joint Development Agreements (‘JDAs’). It analyses the provisions of the Income Tax Act, 1961 and the jurisprudence laid down by various Courts and ITAT in case of registered JDAs.
The article in this issue of Direct Tax Amicus analyses the various income-tax implications of the amendments in Section 135 of the Companies Act, 2013 and the Companies (CSR Policy) Rules, 2014 with effect from 22 January 2021, and related aspects, on the companies and charitable trusts/societies being implementing agencies.
The article in this issue of Direct Tax Amicus elaborately discusses the recently introduced definition of ‘liable to tax’ in the Income-tax Act, 1961. Tracing the history of the dispute relating to the phrase in determination of residency under Double Taxation Avoidance Agreements (DTAA),
The article in this issue of Direct Tax Amicus elaborately discusses the recently introduced definition of ‘liable to tax’ in the Income-tax Act, 1961. Tracing the history of the dispute relating to the phrase in determination of residency under Double Taxation Avoidance Agreements (DTAA),
The article in this issue of Direct Tax Amicus attempts to discuss the dispute as to whether income-tax includes in its ambit the surcharge and cess also.
The article in this issue of Direct Tax Amicus attempts to discuss the dispute as to whether income-tax includes in its ambit the surcharge and cess also.
The article in this issue of Direct Tax Amicus discusses how the legislature has vide Finance Act, 2021 gone far beyond the expectations of the taxpayers by redesigning the entire scheme of taxation in cases of reconstitution and dissolution of partnerships.
Recently, the Supreme Court in DCIT v. Pepsi Foods Ltd. examined the power of the Income Tax Appellate Tribunal (‘ITAT’) to grant stay, as well as certain amendments which provided for automatic vacation of stay granted by the ITAT. The article in this issue of Direct Tax Amicus analyses the legislative history in the matter of grant of stay by the Tribunal with the help of notable judicial precedents.