Tag Archives: income

Online subscription income can be treated as business income: ITAT

The Income Tax Appellate Tribunal (ITAT) recently held that income from online subscription services can be treated as business income and not be taxed as royalty or fee for technical services in all cases. ITAT Mumbai Bench said that for … Continue reading

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Benami Transactions Informants Reward Scheme, 2018 issued: Govt.

With the objective of obtaining people’s participation in the Income Tax Department’s efforts to unearth black money and to reduce tax evasion, a new reward scheme titled “Benami Transactions Informants Reward Scheme, 2018”, has been issued by the Income Tax … Continue reading

Posted in Company Law, Criminal Law, General Law, Income Tax Law, International Law, Notifications/Publications/Circulars | Tagged , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , | Leave a comment

Revised DTAA between India and Kenya notified: Govt.

The revised Double Taxation Avoidance Agreement (DTAA) between India and Kenya has been notified in the Official Gazette on 19th February, 2018. The revised DTAA will improve transparency in tax matters, help curb tax evasion and tax avoidance, remove double … Continue reading

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Notifications & Circulars issued by RBI are of statutory nature: BHC

The Bombay High Court recently held that notifications and circulars issued by the Reserve Bank of India are of statutory nature and therefore binding on all concerned parties. The Court said that the banking companies cannot act as per their … Continue reading

Posted in Administrative Law, Banking Law, Company Law, Contract Law, General Law, Income Tax Law, Notifications/Publications/Circulars | Tagged , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , | Leave a comment

Union Budget 2017 highlights: Govt.

Indian government presented the General Budget 2017-18 in Parliament here today. This is the first of its kind which included the Railway Budget. This year’s Union Budget also does not have Plan and Non-plan classifications and has been advanced by a … Continue reading

Posted in Administrative Law, Banking Law, Company Law, Constitution Law, Consumer Law, customs law, Employment Law, Excise Law, FDI, General Law, Income Tax Law, International Law, Labor Law, Notifications/Publications/Circulars, Real Estate, Sales Tax, Securities Law, Service Tax, WTO/GATT | Tagged , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , | Leave a comment

High denomination currency notes, existing exemptions extended: Govt.

While cancelling the legal tender character of the existing series of high denomination bank notes of Rs.500 and Rs.1,000 denominations w.e.f. the expiry of the 8th November, 2016, exemptions were allowed for certain transactions for the first 72 hours with … Continue reading

Posted in Administrative Law, Banking Law, Company Law, Consumer Law, Contract Law, Criminal Law, General Law, Income Tax Law, International Law, Notifications/Publications/Circulars | Tagged , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , | Leave a comment

High denomination currency notes withdrawn: Govt.

With a view to curbing financing of terrorism through the proceeds of Fake Indian Currency Notes (FICN) and use of such funds for subversive activities such as espionage, smuggling of arms, drugs and other contrabands into India, and for eliminating … Continue reading

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Compensation received from Govt for a deceased employee should be deducted from total compensation: SC

The Supreme Court of India clarified that the compensation received from the Government by the dependents of a deceased employee in a motor vehicle accident should be deducted from the total compensation payable to such dependents by the tortfeasor or … Continue reading

Posted in Consumer Law, Contract Law, Employment Law, General Law, Insurance Law, Labor Law, Motor Vehicle Law | Tagged , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , | Leave a comment