Tax Management India. Com
Law and Practice  :  Digital eBook
Research is most exciting & rewarding


  TMI - Tax Management India. Com
Follow us:
  Facebook   Twitter   Linkedin   Telegram
Bill - Highlights / Catch Notes

Home Highlights February 2016 Year 2016 This

Amendment of section 28. - any sum received or receivable, in ...

Act Rules     Bill

February 29, 2016

Amendment of section 28. - any sum received or receivable, in cash or kind, under an agreement, for not carrying out any activity in relation to any profession, shall also be income chargeable to income-tax under the head “Profits and gains of business or profession”

View Source

 


 

You may also like:

  1. Addition u/s 68 in respect of jewellery - It is not in dispute that what is received as gift is only jewellery. Hence, what is received is only gift in kind....

  2. Deduction u/s 80 IB (10) - allowable expenses to project - Since all the administrative expenses cannot be linked to the activities reasonably, it can be allocated...

  3. Business profit - benefits and perquisites in cash - the apex courts have interpreted that if the benefit or perquisite are in cash, it is not covered within the scope...

  4. Penalty u/s 271D - Sale of property in cash - meaning of the term “specified sum” - The ITAT examined the definition of "specified sum" under Explanation (iv) to Section...

  5. Reopening of assessment u/s 147 - reason to believe - large sums of cash debit/credits - The Petitioner is carrying on a retail business of electronic appliances....

  6. Unexplained cash deposits - Unexplained income - Assessee could not establish that he received agricultural income from carrying on farming activities in the society land. - HC

  7. Addition of sales promotion expenses - Payment to Doctors / medical practitioners - Assessee has not submitted any technical record or any agreement entered with those...

  8. Levy of service tax - liquidated damages/compensation charges received by the Appellant towards the breach and non-compliance of Minimum Guaranteed Tonnage (MGT) as per...

  9. Addition u/s 68 - Disallowance of gift received from father and brother - the agricultural income disclosed by them cannot be disputed unless some facts emerged that...

  10. Exemption u/s 11 - the assessee is registered as a public charitable trust and the assessee carried only religious activities and no charitable activities are carried...

  11. Addition u/s 69A - Source of Cash deposit - Assessee contended that same is received in advance against the sale of property - Levy of penalty u/s 271D - The ITAT held...

  12. Revision u/s 263 - claim of depreciation - no business activity - the assessee is not carrying on any business activity. Indeed the manufacturing activity of the...

  13. Claim of deduction u/s. 35 - scientific research activities - very fact that expenditure was incurred in the form of salary and overheads only goes to suggest that there...

  14. Unexplained cash deposits in bank - receipt of rental deposits in cash - The fact remains that the cash rental deposits have been received by the assessee which is not...

  15. The ITAT Jodhpur ruled on additions made based on cash received for termination of a property purchase agreement and business expenses related to disputed agreements....

 

Quick Updates:Latest Updates