Mr. Neeraj Jain and Ms. Shaily Gupta of Vaish Associates, Advocates, discuss the recent legislative amendments which have expanded the scope of the Equalization Levy in India, explaining the unintended results and resulting uncertainty.
… Continue reading “Article | India EL 2021 – Expansion of Provisions or Hidden Inconsistencies?”
We are pleased to share with you the video link of our web series #TaxMantra on the contemporary topic of “AAR to BAR – A Quantum Change”.
Stay tuned and keep watching our web series *#TaxMantra.*
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 issued to explain the implications of the said provisions. The said amended provision and the recent Rules and Circular have been analysed in our “TaxBuzz”.
To read the TaxBuzz, click at the ‘Download Newsletter.
We trust that you will find the same useful.
Looking forward to receiving your valuable feedback.
For any details and clarifications, please write to:
Mr. Rohit Jain : [email protected]
Mrs. Puneeta Kundra : [email protected]
Mr. Deepesh Jain : [email protected]
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, 1961 are allowable to, not only the ‘demerged company’, but also the ‘resulting company’. The said ruling, being the first of its kind from any High Court, will provide significant relief for corporate restructuring, since amalgamation/ demerger expenses incurred by the amalgamated/ resulting company, could now conclusively be claimed as allowable.
Various facets of the legal device of demerger as well as commercial aspects of business restructuring have been examined from the perspective of allowability under section 35DD of the Income Tax Act, 1961 in this well-reasoned ruling of the High Court.
To read the TaxBuzz, click at the ‘Download Newsletter.
We trust that you will find the same useful.
Looking forward to receiving your valuable feedback.
For any details and clarifications, please write to:
Mr. Rohit Jain : [email protected]
Mr. Aniket D. Agrawal : [email protected]
Mr. Divyam Mittal : [email protected]
We are pleased to share with you the video link of our web series #TaxMantra on the contemporary topic of “Faceless Assessments – Laudable Initiative but Riddled with Challenges!” (Part-II).
Stay tuned and keep watching our web series #TaxMantra.
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, click at the ‘Download Newsletter.
We trust that you will find the same useful.
Looking forward to receiving your valuable feedback.
For any details and clarifications, please write to:
Mr. Rohit Jain : [email protected]
Mr. Divyam Mittal : [email protected]
