Articles by Manish Kumar Agarwal

Understanding capital and revenue receipt and expenditure

Manish Kumar Agarwal 31 January 2012 at 15:37

There is always a dispute in respect of capital & revenue receipt & expenditure. Lets clarify the same with the help of some of the latest judicial decisions in this respect. Non Compete Fees : Non compete fee received by assess

Understanding income from house property with latest case laws

Manish Kumar Agarwal 10 January 2012 at 14:24

UNDERSTANDING INCOME FROM HOUSE PROPERTY WITH LATEST CASE LAWS : In this article, we will discuss recent decisions of various courts & tribunals in respect of income from house property which will enable us better understanding of the subject an

Understanding section 28 with latest case laws

Manish Kumar Agarwal 23 December 2011 at 12:23

The usage of section 28 to justify any expenditure or loss is rarely found. We try to substantiate the same under section 36 or 37 and sometimes not able to get the deduction due to limitations and conditions laid down in that section. Thats

Understanding Section 36 Deduction with Latest Case Laws

Manish Kumar Agarwal 06 December 2011 at 13:11

Under section 36 of the Income tax act, 1961 there are number of deductions available along with their conditions. Below we are discussing the summary of the few latest case laws in respect of section 36 which will make us understand the deducti

Understanding Dis-allowance Under Section 40 of Income Tax Act, 1961 with Latest Case Laws

Manish Kumar Agarwal 05 December 2011 at 16:56

Now a days, assesses are facing number of disallowance under various clauses of section 40 of the act by the Income tax officials. These issues were handled with due care at the time of the assessment itself so that in the case of forc

Understanding Transfer Pricing with Latest Case Laws : Part 2

Manish Kumar Agarwal 14 November 2011 at 12:35

Now a days, during transfer pricing assessment , the TPO are coming with unique ideas like valuation of intangibles , corporate guarantees, ratings provided by CRISIL etc. this all leads to corporate in a mysterious situation. Below are the summ

Understanding Tax deducted at source with latest case laws:

Manish Kumar Agarwal 20 October 2011 at 16:39

UNDERSTANDING TAX DEDUCTED AT SOURCE WITH LATEST CASE LAWS: PART - II In the part I of the article Understanding TDS with case laws published on February 2011 now we should move ahead and should discuss the latest judicial development in the are

Understanding Deemed Dividend with Latest Case Laws

Manish Kumar Agarwal 27 September 2011 at 17:13

Now a days, in a modern organization , there will exist a complicate business structure of holding & subsidiary companies along with closely held companies. There will be routine flow of funds between these companies. It is very important to h

Provision for Expenses - Allowable expenditure

Manish Kumar Agarwal 21 September 2011 at 12:52

We have to make provision for various expenses based on the estimates at the year end as we are following the accrual system of accounting. But the income tax department was disallowing the same on the ground that same being contingent in n

Correction in Challan Paid

Manish Kumar Agarwal 20 September 2011 at 13:47

Summary : Earlier correction was not possible in challans while making errors at the time of payment. Same is now possible from bank, but you should contact the bank within 7 days. Challan Correction Mechanism Under OLTAS (On Line Tax Accou