Income Tax Articles

Non-compete fees paid to key employees at the time of joining is in the nature of "Salary Income"

FCS Deepak Pratap Singh 23 April 2022 at 11:19

Karnataka HC rules that non-compete fees paid to key employees at the time of joining is in the nature of "salary income".

Sec 10(34A) - Income on account of buyback of unlisted shares - Is it completely tax exempt?

Rish s 23 April 2022 at 08:57

Sec 10(34A) "any income arising to an assessee, being a shareholder, on account of buyback of shares (not being listed on a recognized stock exchange) by the company as referred to in section 115QA"

An Overview on Section 115BAB

Rish s 20 April 2022 at 08:48

A short analysis on Section 115BAB of Income Tax Act

Which ITR forms can be used for filing of returns?

CA Rahul Mittal 19 April 2022 at 15:50

Form to be used by a taxpayer to file the Income-tax return for the assessment year 2022-23

Complications caused by cash transactions in income tax

CA Rahul Mittal 18 April 2022 at 14:43

Government wants that people use banking system and in the same direction some new provisions added in the Finance Act, 2017 to prevent black money. We will discuss all the provisions related to cash transactions, exceptions of the same and consequences of them as well.

Section 2(22)(e): Deemed Dividend - Taxability in FY 20-21

Rish s 18 April 2022 at 08:49

Dividend is taxable u/s 56 in hands of shareholder from 1-4-20 and exemption u/s 10(34) has been removed.

Some important judgments on Income Tax, GST, IBC and other corporate laws

FCS Deepak Pratap Singh 16 April 2022 at 17:39

Important judgments on Income Tax, GST, IBC and other corporate laws has been listed in this article

Income Tax Questions & Answers Series Consolidated

FCS Deepak Pratap Singh 16 April 2022 at 08:05

As we are aware that Income of a resident in India from sources anywhere in world will be taxable under provisions of Income Tax Act, 1961. In case a person, who is a non-resident in India during previous year and he earns any income from India, then taxability of that Income will be decided on the basis of source of income as well as residence of assessee.

Impact of waiver of loan or liability on depreciation claim

FCS Deepak Pratap Singh 13 April 2022 at 12:02

When a loan taken for acquiring a depreciable capital asset or a part of the purchase price of such capital asset is waived in a year subsequent to the year of acquisition,

Now Agriculture Income Under Strict Scrutiny

CA Umesh Sharma 11 April 2022 at 15:21

CAG has prepared a report on Assessments Relating to Agriculture Income which was presented in the 49th report of the Public Accounts Committee which clearly stated that the rich farmers whose agriculture income exceeds Rs 10 lakh per year limit, will face stricter scrutiny of agricultural income.