Read the analysis and implications of the legal contentions discussed in the notable judgment of Leena Power Tech Engineers Pvt Ltd.
The CBDT vide Circular No. 17/ 2021 dated 9 September 2021, has extended the due dates w.r.t filing of return of income and various audit reports. The same have been summarized here.
The CBDT vide Circular No. 16/ 2021, dated 29 August 2021, has extended the due dates of various direct tax compliances. The same has been summarized here.
The Bill proposes to amend the Act and abolish the retrospective tax on indirect transfer of Indian assets, if the transaction was undertaken before 28 May 2012.
The legality of section 194N of the Income Tax Act was challenged in the case of Amalgamated Plantations Pvt. Ltd. & Anr.
This summarizes the key Notifications and Circulars issued by the CBDT, extending the due dates of various direct tax compliances under the Act:
The CBDT vide notification dated 02.07.2021 has inserted a new sub-rule 5 under Rule 8AA of the Income-tax Rules, 1962 and also notified Rule 8AB, which deals with the attribution of income taxable under section 45(4) of the Act
Read the analysis of Section 194Q in Finance Act, 2021 introduced by the Central Board of Direct Taxes (CBDT)
Read about the implications of the CBDT notification that has prescribed the ‘revenue’ and ‘users’ threshold for the purpose of determining SEP.
This article highlights five areas where we need to rethink our approach to make the innovation ecosystem more conducive to growth.
