Home Highlights July 2014 Year 2014 This

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1. TDS u/s 195 r.w.s. 192 - salary costs of a seconded employee - The employees in their capacity as employees of the assessee had to control and supervise the activities...

2. Fees for Technical Services [FTS] - Receipt of Cost-to-cost reimbursements on account of secondment of employees - seconded personnel are employees of EY India firms -...

3. Substitution of new section for section 80JJAA- Deduction in respect of employment of new employees. - Deduction under the proposed provisions will be available in...

4. Exemption u/s 10B - eligibility criteria - whether deduction can be claimed for a period of 10 consecutive years beginning with the previous year in which the assessee...

5. TDS u/s 195 on payment of secondment cost - The assessee has reimbursed the salary cost of seconded employees on cost-to-cost basis without any profit element. The...

6. TDS u/s 192 - employee of Mahatma Gandhi University, kerala - The salary, pension and retirement benefits are paid from the consolidated fund of the state government...

7. Fees for Technical Services - Reimbursement of salary and other related costs - the salaries of such seconded employees were deposited in their overseas bank accounts,...

8. Deduction u/s. 10B - Even though an estimation of excess stock in the middle of the year, while accepting the Books of Accounts of the year, is not generally permitted...

9. TP Adjustment - ESOP considered as operating cost by the Ld.AO/TPO - TPO failed to consider the basic fact that, purchase cost of the shares of foreign AE is charged...

10. Exemption u/s 10(10AA) - exemption from income tax from the leave encashment amount at the time of retirement of the employees other than government employees - as...

11. Deduction u/s 10B - computation - CIT(A) has rightly held that the assessee is eligible for deduction under section 10B of the Act prior to giving effect to the brought...

12. Deduction u/s 36(1) (viia) - section 36(1) (viia) clearly provides for deduction of 7.5 % of the total income and a further deduction of 10 % of the aggregate of...

13. Deduction u/s 10B - profit of eligible undertaking for the purpose of allowing deduction u/s 10B of the Act at the source itself without deduction of unabsorbed brought...

14. Disallowance of bad debts as claimed u/s 36(1)(viia) - deduction claimed @10% of aggregate average advances - AO is directed to make relevant enquires and verifications...

15. Deduction u/s 10B - business of the assessee is proved beyond doubt that it involves in the manufacturing activities, in the result, it is eligible to claim deduction u/s 10B - AT