Taxability of Conversion of Stock in trade to Investment In case of a business of trading in shares assessee may transfer some of his stock in trade into his capital asset by deciding to hold it as an investment or on discontinue of delivery based trading of shares, convert the stock of shares into investments […]
Tag Archives: Income Tax updates
Powers of the A.O. are not plenary or unbridled 1. INTRODUCTION Recently, I had an occasion to deal with a case, where no notice under section 143(2) of the Income‑Tax Act, 1961 (the Act), was served on the assessee, within the stipulated period. But after the expiry of the aforesaid period, the Assessing Officer (AO) […]
Whether MAT applicable to share of a company in income of a joint venture business 1. Introduction We have been witnessing a new and different trend in relation to the real estate development. Earlier, a builder would go for outright purchase of a piece of land from the landlord and develop the same at his […]
Whether a Non-resident is liable to deduct TDS from payments made to persons resident in India? Of late the Government of India has been making use of the provisions of Tax Deduction at Source (TDS) for augmenting tax revenues. Vide Finance Act 1995 the scope of TDS has been vastly enlarged. There are certain provisions […]
How to simplify income-tax law – Basis of charge and income exempt from tax Suggestions regarding report of expert group to simplify income-tax law – Chapters II & III – Basis of charge and income exempt from tax 1. Introduction An attempt has been made in this article to offer some suggestions in respect of […]