Daily Archive: Monday, April 18, 2016

SEBI-Consultation Paper on Distribution of Cash Benefits through Depositories-Issues investors may be facing

Author: | Categories: SEBI No comments
SEBI-Consultation Paper on Distribution of Cash Benefits through Depositories For investments in various securities, investors receive cash benefits such as dividend, interest and redemption payments. At present, cash benefits are distributed directly by issuer companies to the investors mostly through their Registrar and Transfer Agents (RTAs). Though this model

 

Foreign Tax Credit (FTC) draft rules for granting relief or deduction of Income-tax under section 90 90A 91 of the Income-tax Act

Author: | Categories: Income Tax No comments
F.No. 142/24/2015-TPL Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes (TPL Division) New Delhi, dated 18th April, 2016 Sub: Draft rules for granting relief or deduction of Income-tax under section 90/ 90A/ 91 of the Income-tax Act – reg. Clause (ha) of sub-section

 

Employee secondment charges not fees for technical/professional services for invoking disallowance u/s 40(a)(ia)

Author: | Categories: Income Tax, ITAT, Judgments No comments
In a recent judgment, ITAT Mumbai has held that where the assessee pays secondment charges for the employees, for all practical purposes, the assessee is the employer and the charges paid can not be said fees for technical/professional services for disallowance u/s 40(a)(ia) Case Law Details: ITA No. 1945/Mum/2013 Assessment Year: 2009-10 Deputy Commissioner

 

Joint family property distributed on intestacy principles under Section 8 of Hindu Succession Act ceases to be joint family property-Supreme Court

Author: | Categories: huf, Judgments, Supreme Court No comments
In a recent judgment Supreme Court has held that prior to 2005 amendment, after joint family property has been distributed in accordance with section 8 on principles of intestacy, the joint family property ceases to be joint family property in the hands of the various persons who have succeeded