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
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
Case: DCIT vs M/s. SNF (India) LtdForum: ITAT Visakhapatnam Listen to the case summary DCIT vs M/s. SNF (India) Ltd, ITAT Visakhapatnam here Note: You must have access to Riverus Research Map for Income Tax to access the links in this article. Email us at email@example.com to try for free. Overview: Judgment date: October 4,2019 … Continue reading ITAT Visakhapatnam decides: Should royalty payments be aggregated with other international transactions to determine the arm’s length price?
Case: ACIT v. Telangana Grameen Bank, Hyderabad ITAT Listen to the case summary ACIT v Telangana Grameen Bank, ITAT Hyderabad here Note: You must have access to Riverus Research Map for Income Tax to access the links in this article. Email us at firstname.lastname@example.org to try for free. Background The assesee is a regional rural … Continue reading Whether tax authorities can ask for forms 15G/15H to be furnished at any time for the purposes of verification?
Note: You must have access to Riverus Research Map for Income Tax to access the links in this article. Email us at email@example.com 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
Case: M-S. SeyyIidmadani charitable trust vs the CIT (EXEMPTIONS), ITAT Bangalore Listen to the case summary M-S. SeyyIidmadani charitable trust vs the CIT (EXEMPTIONS), ITAT Bangalore here Background The assessee is a trust which came into existence vide deed of trust dated 7.1.1981. Its objects are enumerated as providing education. The assessee applied for grant … Continue reading Whether the order of CIT (exemptions) rejecting the grant of registration under section 12AA of the Income Tax Act to the assessee valid or not?
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 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
Case: ITO -WD- 3 (1) vs BHADRESH JAYANTILAL SHAH DOMBIVALI, ITAT MUMBAI. Listen to the case summary ITO -WD- 3 (1) vs BHADRESH JAYANTILAL SHAH DOMBIVALI, ITAT MUMBAI here Background: The assesee who was engaged in the business of trading had shown certain bogus purchases against returned income. Consequently, order of re-assessment was passed under … Continue reading Is the CIT(A)’S order that provides for a 25% disallowance of bogus purchases is erroneous?
The Indian government reduced the corporate tax levied on companies from 30% to 22%. Corporate tax is a direct tax that is levied on the net income or the profits which corporate's generate from their businesses. This change will give a breather to companies and would leave more money in their hands for further investments … Continue reading Impact of Changes in the Corporate Tax