Searching Content indexed under Tax by Khaitan & Co ordered by Published Date Descending.
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Tax Tribunal Allows MAT Credit Upto The Appointed Date To The Demerged Company
In a recent case, The Deputy Commissioner of Income-tax v TCS E-Serve International Limited dated 28 August 2019, the Mumbai Bench of the Income Tax Appellate Tribunal has allowed a demerged company to ...
20 Sep 2019
AAR Rules On Capital Gains Taxability In The Hands Of Shareholders Upon The Conversion Of A Company To An LLP
In the recent case of Domino Printing Science Plc., In Re (AAR 1290 of 2012 decided on 23 August 2019), the Authority for Advance Rulings, ruled that shareholders of a company are liable to capital gains tax ...
19 Sep 2019
Prosecution Proceedings To Be Resorted To Sparingly And Relaxation In Compounding Guidelines
In line with the recent assurances from the Finance Minister of India regarding ending the tax harassment, the CBDT which is the apex body for administration of direct tax in India, has issued 2 circulars.
19 Sep 2019
New Beneficial Ownership Rules – Transactional Implications
Following through on India's commitment to align its regulatory framework with the recommendations of the Financial Action Task Force, to check the misuse of multi-layered corporate entities for money laundering ...
26 Aug 2019
Monetary Thresholds For Filing Of Appeals By The Income-Tax Department Further Enhanced
This is in furtherance to our Ergo Updates dated 23 July 2018 and 28 August 2018, on monetary limits for filing of appeal by the Income-tax department (Department).
21 Aug 2019
TDS On Cash Withdrawal – Tax Deducted But Not On "Income"- A Legal Conundrum
With an aim to discourage cash transactions and move towards a cashless economy, the first budget of Modi Government 2.0 has proposed to levy TDS @ 2% on cash payments in excess of Rs. 1 CR in aggregate ...
8 Aug 2019
Benami Transactions' Prohibition Law Amendment Is Prospective, Holds Rajasthan High Court
In a batch of writ petitions (Civil Writ Petition No. 2915/2019 and others), the Hon'ble Rajasthan High Court has held that the Benami Transactions (Prohibition) Amendment Act, 2016 is prospective in nature ...
29 Jul 2019
Union Budget 2019-20
The budget proposes a dispute resolution-cum-amnesty scheme titled ‘The Sabka Vishwas Legacy Dispute Resolution Scheme, 2019' for faster settlement of litigation pending inter alia under the erstwhile Central Excise and Service Tax regime.
10 Jul 2019
Indian Budget 2019 | Direct Tax Proposals
The tax rates and income slabs under the Income-tax Act, 1961 (IT Act) remain the same, other than the following proposed changes
10 Jul 2019
Government Of India Ratifies MLI – Bringing India On The Cusp Of A New International Tax Regime
The Government of India (Union Cabinet) has approved the ratification of the Multilateral Convention to Implement Tax Treaty Related Measures to Prevent Base Erosion and Profit Shifting (MLI) and India's final position to the same.
18 Jun 2019
Supreme Court To Clarify The Position Relating To Arrest Provisions Under GST
The Hon'ble Supreme Court, vide its order dated 29 May 2019, while refusing to interfere with the order of the Bombay High Court, has held that the position regarding the arrest provisions under Central Goods and Services Tax Act, 2017 ...
5 Jun 2019
Government Of Kerala Introduces The Kerala Flood Cess
The Government of Kerala has introduced a cess as per clause 14 of the Kerala Finance Bill, 2019 called the "Kerala Flood Cess".
4 Jun 2019
High Court Of Orissa Allows Input Tax Credit On Goods And Services Used For Construction Of Immovable Property
The Hon'ble High Court of Orissa, vide its order dated 17 April 2019, in in Safari Retreats Private Limited v Chief Commissioner of Central Goods & Service Tax [W.P. (C) 20463 of 2018], has allowed availment of ITC...
31 May 2019
‘Management Fees' Constitutes ‘Business Income' In The Absence Of Specific FTS Provision In The Relevant Tax Treaty
The Bengaluru bench of the Income-tax Appellate Tribunal vide order dated 28 February 2019, held that consideration received by non-resident entity from an Indian company for performing management services ...
8 Apr 2019
Tax Tribunal Upholds Tax ‘Pass Through' Status Of A Venture Capital Fund
In M/s HDFC Property Fund v Income Tax Officer, the Mumbai bench of the Income Tax Appellate Tribunal has, through an order dated 28 February 2019, ruled in favour of the taxpayer, a SEBI registered Venture Capital Fund ...
13 Mar 2019
'Angel Tax' Exemption For Start-Ups – Conditions Relaxed
To give a fillip to start-ups and not levy tax on excess premium received by them, the CBDT had earlier exempted registered start-ups from the applicability of angel tax.
13 Mar 2019
33rd GST Council Meeting – Real Estate Sector Update
In its 33rd meeting held on 24 February 2019, the GST Council has recommended reduction in GST rates for under-construction residential properties.
12 Mar 2019
Gujarat High Court Strikes Down Pre-Import Condition
The term ‘pre-import' was not defined in the notification.
11 Feb 2019
The Interim Budget 2019 And Round Up Of The GST Amendments In 2018-19
The Interim Budget 2019 did not propose any changes with respect to Indirect Tax.
6 Feb 2019
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