TAX
Telcos in a Fix: Licence Fee to be Treated as Capital Expenditure
Recently, the Supreme Court held that the variable annual licence fee paid by telcos has to be treated as capital expenditure.
October 20, 2023
Recently, the Supreme Court held that the variable annual licence fee paid by telcos has to be treated as capital expenditure.
The Commissioner of Income Tax V/s M/s Mansukh Dyeing and Printing Mills (Partnership Firm) [Civil Appeal No. 8258 & 8259 of 2022]
The Ruling by Jaipur ITAT provides much-needed clarity on the non-applicability of the relatively new provisions of the Equalisation Levy.
Presumptive Tax was first introduced in 1994 to estimate taxable income from the supply of labour for civil construction work or from construction businesses.
The CBDT has, vide Circular No 18 of 2022, dated 13 September 2022, aimed to remove difficulties on implementation of TDS on benefits or perquisites under Section 194R of the Income Tax Act
Key points that an individual/HUF needs to consider while claiming medical expenses in the income tax return.
With the due date for filing your income tax return for the Financial Year 2021-22, i.e. Assessment Year 2022-23, just round the corner, we bring to you a few pointers while filing your tax return, which can ensure that your tax filing process is smooth and hassle-free.
Faceless Appeal Scheme 2021 introduced In order to fix the hiccups and incorporate the changes requested by taxpayers.
A transitional approach has been agreed by India and the US on the 2% Equalization Levy. The final terms are expected to be issued by 1 February 2022.
CBDT has issued Circular No 20/2021 providing more clarification on Section 194-O, 194Q & 206C(1H) of teh Income Tax Act.