Taxation

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Taxation

Income Tax on Profits and Gains of Business or Professi...

Income Tax on Profits and Gains of Business or Profession

The word,’ business’ is defined under Section 2(13) of the Income Tax Act. According to it, business means any trade, commerce or manufacture or concer...

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Taxation

Section 35D Deduction – For Preliminary Expenses

Section 35D Deduction – For Preliminary Expenses

A massive amount of money and capital is required during the incorporation or starting of any business. Various expenses are incurred by businessmen for th...

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Taxation

International tax planning strategies for Global Compan...

International Tax Planning

Companies that conduct business in multiple nations face a significant obstacle when it comes to corporate international tax planning. They must strategica...

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Taxation

Windfall Tax: An Overview

Windfall Tax: An Overview

The government levies a windfall tax on business entities due to abnormal gains from financial windfalls. The main objective of such a tax is reallocating...

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Taxation

Taxation of Interest Income

Taxation of Interest Income

Interest income can be defined as the amount earned by the taxpayers on different financial products, accounts and investments either by way of lending to...

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Taxation

Tonnage Taxation System: An Overview

Tonnage Taxation System: An Overview

The government of India has introduced the Tonnage tax system, and this scheme is optional for qualifying Indian Shipping Companies after meeting certain e...

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ITAT

ITAT Denies Exemption under Section 10 (38) For Bogus S...

ITAT Denies Exemption under Section 10 (38) For Bogus Share Transactions

The Pune Income Tax Appellate tribunal in the Case of Abhishek Ashok Lohade vs ITO 2022 has ruled that where the assessee is unable to prove to the court t...

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Taxation

Exemption u/s 10A of IT Act Unavailable in case ITR Fil...

10A of IT Act

The ITAT Chennai passed a judgement in the case titled Redisolve Software P. Ltd. Vs DCIT dated 30th November 2022, holding that ITR  is req...

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