Tag: itat

Payments to franchisees held liable to TDS us 194C not 194J. Modus operandi for fee collection and revenue sharing not determine for tds on amount remitted

Payments to franchisees held liable to TDS us 194C not 194J. The modus operandi for collection of the fees as well as of the revenue sharing cannot determine whether the amount remitted by the assessee to the franchisee is subject to tax deduction at source u/s 194J. This was upheld by …

Share STCG not become business income by employment of Portfolio Management Service (PMS) for investment in shares-ITAT held so relying on 2 HC Judgments

Share STCG not become business income by employment of Portfolio Management Service (PMS) for investment in shares. This was held in a recent judgment by ITAT placing reliance on two High Court’s verdicts. ABCAUS Case Law Citation: 938 2016 (06) ITAT Date of Judgment: June, 2016 Brief Facts of the …

Notional interest Perquisite on Security deposit paid to landlord. Notional Interest on amount paid by employer for employee’s accommodation not perquisite

Notional interest Perquisite on Security deposit paid to landlord. Notional Interest on amount paid by employer for employee’s accommodation not perquisite-ITAT ABCAUS Case Law Citation: 934 2016 (06) ITAT Brief Facts of the Case: The assessee was an employee having income from salary and other sources. His return …

Gift received from Step Father not taxable us 56(2)(vi) as income from other sources in view of meaning of relatives as per Explanation to section 56(2)

Gift received from Step Father not taxable us 562vi as income from other sources. The Explanation to section 56(2) would indicate that the expression “relatives” would recognize the relationship between the step-father and step-son for the purpose of exemption available under section 56(2) of the Income Tax Act, 1961. …
Subscribe to ABCAUS Newsletter

Get reliable, authentic and latest updates on taxation/corporate and other laws in your mail box free.



After subscribing, please check your email (including spam or junk folder) and activate the subscription link by clicking it.