We are pleased to share with you the copy of our latest edition of “TaxBuzz…”, wherein we have analysed the recent ruling of the Bombay High Court (Goa Bench) in the case of Sesa Goa Ltd., wherein the Court has upheld the claim of the assessee regarding allowability of deduction under section 40(a)(ii) of the […]
We are pleased to share with you the copy of our latest edition of “TaxBuzz”. The Finance Bill, 2020 was introduced by the Finance minister while presenting this year’s Union Budget. Subsequently, several significant substantive changes in the Income-tax Act were proposed by way of amendments to the Finance Bill, 2020, which have been passed […]
The Hon’ble Finance Minister vide press conference held on 24.02.2020, announced several important relief measures taken by the Government of India in view of COVID-19 outbreak, especially in the much needed area of statutory compliances under the Income Tax, which are tabulated hereunder: Reduced Interest rates The press release states that interest at reduced rate […]
Vivad se Vishwas Scheme (‘the Scheme’) was announced by the Union Finance Minister Smt. Nirmala Sitharaman in her budget speech on February 1, 2020. The Scheme aims to – (i) settle pending direct tax cases (around 4,83,000 cases) before various forums; (ii) generate timely revenues; and (iii) save time and energy to taxpayer and the […]
Introduction The Government of India in the recent budget, i.e. Finance Bill 2020 extended relief from filing income tax return to non-residents, whose total income consists income by way of royalty and/or fees for technical services [“FTS”] provided that such non-resident is not liable to pay tax other than the tax which has already been […]
With aim to provide fillip to the sluggish economy and promote growth and investment, the Government had by Ordinance made amendments in the Income Tax Act, 1961 (“the Act”) vide the Taxation Laws (Amendment) Ordinance, 2019 (‘the Ordinance’) which was promulgated by the President on 20.09.2019 since the Parliament was not in session. For discussion […]
