There are some heads of income which are considered tax-free or exempt for the purposes of the Income Tax Act (“Act”). On the other hand, the Act allows certain expenses incurred exclusively for earning income to be claimed as deductions i.e. these amounts can be deducted from the total income to arrive at the income … Continue reading Disallowance under Section 14A: an Analysis
The Riverus Advantage Part 3 – Judge Speak
If you are an avid reader, you would in all probability have read the novel 1984 by George Orwell. And if you did, you would remember the concept of Newspeak – a controlled language with restricted grammar and limited vocabulary. In the dystopian reality of the world weaved by the author, Newspeak is a powerful concept. Judge … Continue reading The Riverus Advantage Part 3 – Judge Speak
The Riverus Advantage 2 – Click, Click, Get
Following up on our article from last week, on how we differentiate ourselves from products that operate in the case research space, here’s edition 2. Whenever we speak to our potential customers about Research Map for Income Tax, we invariably hear the expression, “Ah! You are like Taxman (or CTR).” This comparison is very frustrating … Continue reading The Riverus Advantage 2 – Click, Click, Get
The Research Map for Income tax Advantage 1 – Broad Search
Here's a question you may have for us. How is Riverus Research Map different from other research tools for income tax? Before we venture to answer that, we have two questions for you: Have you already bought a smartphone?Have you tried driving an automatic transmission car? If you answered yes to either of the questions, … Continue reading The Research Map for Income tax Advantage 1 – Broad Search
Taxation of proceeds in the hands of a retiring partner
Note: You must have access to Riverus Research Map for Income Tax to access the links in this article. Get your free 7-day access here, instantly! Introduction A partner who receives certain assets upon retirement from a firm would be keen to ensure that such assets do not attract capital gains tax. Read this article … Continue reading Taxation of proceeds in the hands of a retiring partner
Payment of fee for online subscription services not to be taxed as royalty
Note: You must have access to Riverus Research Map for Income Tax to access the links in this article. Email us at hello@riverus.in to try for free. Introduction The Bombay ITAT in its recent decision of Elsevier Information Systems GmbH v. Dy.Commissioner of Income Tax held that subscription fees paid to access an online database … Continue reading Payment of fee for online subscription services not to be taxed as royalty
Judge Spotlight: Justice Sripathi Ravindra Bhatt
Justice S. Ravindra Bhatt is one of the four judges elevated to the Supreme Court in the latest round of appointments. The elevation took place on September 23, 2019. Here is a brief background, experience, and insights on cases. Background Justice Bhatt completed his LLB from Delhi University and was enrolled in the bar in … Continue reading Judge Spotlight: Justice Sripathi Ravindra Bhatt
The Birth of Riverus
Small firms and solo practices offering legal, tax or accounting services face unique challenges in all countries. Some of these challenges are common across jurisdictions. These include operational challenges (e.g. matter management, invoicing, recovery, etc), challenges of branding and maintaining customer connect, availability of working capital debt, retaining talent, etc. Each one of these could … Continue reading The Birth of Riverus
Startups, Taxation, and Angel Tax
Startups in India qualify for a host of benefits including exemption from certain taxes. However, in order to qualify for such exemptions, a startup needs to be covered under the definition of an `eligible startup’ as per the Startup India Action Plan launched in 2016. Eligibility Startups need to meet the following criteria to be … Continue reading Startups, Taxation, and Angel Tax
Condonation of Delay: 6 Cases with Reason and Treatment
While the Indian justice system is infamous for its apathy, lack of urgency and efficiency, the Courts are not always to blame. Here are six cases where there was an inordinate delay in filing the appeal and the reasons given by the court in allowing or rejecting the condonation. One of the cases has a … Continue reading Condonation of Delay: 6 Cases with Reason and Treatment