The Finance Act, 2021 has completely changed the scheme of taxation of transfer of assets to partners on reconstitution or dissolution of a firm. Substantive amendments include insertion of new section 9B and also substitution of existing section 45(4), retrospectively effective from the previous year 2020-21. Recently, Rules has been amended and Circular have has […]
We are pleased to share with you a copy of our in-house publication – “TaxBuzz…”, wherein we have analysed the recent ruling of the Delhi High Court in the case of Coforge Ltd. The High Court, while reversing the decision of the Tribunal, held that demerger expenses under section 35DD of the Income Tax Act, […]
We are pleased to share with you a copy of our in-house publication – “TaxBuzz…”, wherein we have analysed the Guidelines issued by CBDT under Section 194-Q and 206(1H) of the Income-tax Act, 1961. While the Board has sought to clarify various practical issues, there it has still left few questions unanswered.” To read the TaxBuzz, […]
We are pleased to share with you a copy of our in-house publication – “TaxBuzz…”, wherein we have analysed the recent Press Release of the CBDT announcing income-tax exemption in respect of financial assistance received by taxpayers for expenses incurred towards medical treatment of Covid-19 and by families of those unfortunate taxpayers who lost their […]
We are pleased to share with you a copy of our in-house publication – “TaxBuzz…”, wherein we have analysed the recent decision of Karnataka High Court in the case of Nandi Steels Limited on the issue of allowability of set off of brought forward Business Loss against income chargeable to tax under the head ‘Capital […]
In continuation to our detailed analysis of the Finance Bill 2021, amendments made to the proposals of the Bill, which are now incorporated in the Finance Act, 2021, are summarised in our publication, TaxBuzz. To read the TaxBuzz, click at the ‘Download Newsletter. We trust that you will find the same useful. Looking forward to receiving […]
