Sep 132021

The credit of TDS to be given for the assessment year in which invoices are raised In terms of Rule 37BA(3)(i) benefit of TDS is to be given for assessment year for which corresponding income is assessable, therefore, where the [Read More]

Sep 102021

Facts: The assessee company was engaged in providing software development services and outsourcing services. It was also availing management services from its parent company, namely, CSC, USA.   In lieu of the management services obtained, the assessee paid to certain [Read More]

Sep 072021

Facts of the case: S had engaged the services of the assessee for collection of the subscription amount against the commission and the assessee had remitted the entire gross amount received from the cable operators to S. The amount remitted [Read More]

Sep 042021

Case 1 – Diversion of income by overriding title: Facts of the case: the assessee is an individual, engaged in retail business and earned income from franchisee/commission from M/s. Arvind mills. The assessee filed a return of income on 29.9.2009 [Read More]

Sep 012021
Due dates for the Month of September 2021

Due dates for the Month of September 2021 7th INCOME TAX – TDS Payment for August. 10th GST – Return of authorities deducting tax at source – GSTR 7 for August. – Details of supplies effected through e-commerce operator and [Read More]

Aug 282021

Case 1: The assessee had been taking contracts in its name as well as in the names of its director and the Assessing Officer agreeing with the contentions of the assessee that as both the receipts were deposited in the [Read More]

Aug 252021

Facts: A TDS survey was conducted by the Asstt. Commissioner of Income-tax at the premises of the assessee-company. The Assessing Officer passed an order under section 201 holding that it failed to deduct the TDS in respect of provisions of [Read More]

Aug 222021

Facts of the case: The original assessee Shri S. P. Patel (hereinafter referred to as “the assessee”) and his brother were partners in a firm known as M/s. Patel Brothers having 50 percent, share each in the profit and loss [Read More]

Aug 192021

Facts of the case: The facts obtaining in the case decided by the Punjab and Haryana High Court in CIT v. Punjab Financial Corporation [2009] 181 Taxman 209 (P&H) were that the assessee, a financial corporation, had an agreement with [Read More]

Aug 132021

Facts: The assessee was following the cash system of accounting. She was holding cumulative term deposits in a bank entitling her for interest, which was periodically credited by the bank in the deposit account of the assessee. During the previous [Read More]