Home Highlights June 2014 Year 2014 This

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1. Eligibility for MAT credit u/s 115JAA - the amount of the MAT tax credit, inclusive of surcharge and education cess etc., if any, should be reduced from the amount of...

2. Minimum alternate Tax (MAT) - Tax credit u/s 115JAA - surcharge and cess - Revenue (CPC) has admittedly applied surcharge and education cess on a tax credit u/s. 115JAA...

3. Rectification of mistake u/s 154 - Difference of MAT credit not allowed to the assessee as related to surcharge and cess components of the MAT taxes paid in earlier...

4. Surcharge and education cess to be levied after giving MAT credit - The nature of MAT is like pre-paid taxes and, therefore, it should be treated alike for the purposes...

5. Disallowance of credit of surcharge and education cess - MAT u/s 115JAA - if only income tax is paid under the provisions of section 115JB it is natural that tax credit...

6. Set-off of MAT credit u/s 115JAA - surcharge and cess - The observation of the Ld.CIT(A) that the issue is debatable one is not sustainable - majority of the decisions...

7. MAT credit u/s 115JAA - Whether MAT credit includes surcharge and education cess instead of excluding surcharge and education cess - The Hon'ble Supreme Court explained...

8. Levy of surcharge and education cess on TDS - Absence of PAN - No contrary provision mandating the levy of surcharge and education cess on the rate of 20% u/s...

9. Tribunal was right in confirming the set-off of MAT Credit under Section 115JAA brought forward from earlier years against tax on total income including surcharge and...

10. Levy of Surcharge and cess - to be computed over the rate of tax as per DTAA or not - Article 12 read with Article 2 of the tax treaty makes it clear that the rate of...

11. MAT credit on the difference between gross tax liability as per normal provisions and MAT provisions as claimed by assessee in ITR instead of base tax as per normal...

12. Education cess and surcharge – tax payable @ 12.5% under Article 11(2) of DTAA is inclusive of surcharge and education cess - AT

13. Levy of ‘education cess’ and ‘higher education cess’ - DTAA between India and Singapore - education cess cannot indeed be levied in respect of tax liability of the...

14. Levy of surcharge and education over 10% tax as per the DTAA between India and France on royalty - revenue cannot levy surcharge and education cess, which is also in the...

15. CENVAT credit - Education cess and Higher education cess paid on CVD - If the 3rd education cess is considered as a levy on total excise duty, the obvious conclusion...