Home Highlights May 2015 Year 2015 This

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1. Deduction u/s 54EC - Investment in two years - it is apparent that the Government only intended to restrict the investment in a particular financial year and accordingly...

2. Validity of order u/s.201 & u/s.201(1A) - tds liability - period of limitation - As per this time limit to pass order u/s.201(1) & 201(1A) of the Act is two years from...

3. Exemption limited increased to Rs. 25,00,000 against Leave encashment by the employees other than an employee of the Government - Income Tax Notification

4. Jurisdiction of Superintendent to pass the order - Monetary limit - The High Court noted that, the circular dated 9.2.2018 limited the power of the Superintendent,...

5. Amendment of section 35. - to reduce the said weighted deduction from one hundred seventy-five per cent. to one hundred fifty per cent. from financial year 2017-2018 to...

6. Demand Interest u/s 201(1A) - Non deduction TDS u/s 194IA - As per the sale deed the details of the sellers / transferors of the said property and in fact the sellers...

7. CENVAT Credit on capital goods - there is no time limit is stipulated under the Cenvat Scheme, for taking credit on capital goods, since as per the scheme, the balance...

8. CIR process - Petitioner and the Debtor entered into Power Purchase Agreement for supply of 20,00,000 units - since no agreement between the parties obligating the...

9. Revision u/s 263 - bogus liability towards purchases - payment in expenditure cash during the next year - The implications, if any, in respect of discharge of liability...

10. Disallowance of excessive licence fee paid to M/s Uflex Ltd. - increase of the license fee from ₹ 50 Lac per month to ₹ 2 Crore per month - the issue of...

11. The Ministry of Home Affairs issued the Foreign Contribution (Regulation) Amendment Rules, 2022, on 1st July 2022, introducing several key amendments to the Foreign...

12. Disallowance on account of foreign exchange fluctuation loss - It is an undisputed fact that for the assessment year 2012-13, 2013-14 and 2016-17, the assessee declared...

13. Clarification on clubbing of investment limits of Foreign Portfolio Investors ("FPIs")

14. Monitoring of foreign investment limits in listed Indian companies

15. Investment by Foreign Portfolio Investors (FPI) in Government Securities Medium Term Framework – Review - Revision of Limits