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
Income Tax - Highlights / Catch Notes

Home Highlights October 2015 Year 2015 This

Computation of the taxable income u/s 44BB - The service tax is ...

Income Tax

October 5, 2015

Computation of the taxable income u/s 44BB - The service tax is not an amount paid or payable, or received or deemed to be received by the Assessee for the services rendered by it. The Assessee is only collecting the service tax for passing it on to the government - not to be included - HC

View Source

 


 

You may also like:

  1. Service tax paid by the assessee could not form part of amount for the purpose of deemed profits u/s 44BB unlike the other amounts received towards reimbursement - AT

  2. Service tax paid by the assessee could not form part of amount for the purpose of deemed profits u/s 44BB unlike the other amounts received towards reimbursement - AT

  3. Scope of Section 44BB - Service tax inclusion in the gross revenue for computing profits under presumptive provisions of section 44BB - The Hon’ble Court is clearly...

  4. Scope of of Sections 44BB(1) and 44BB(2) - computation of the ‘presumptive taxable income’ - the amount reimbursed to the assessee (service provider) by the ONGC...

  5. Section 44BB is applicable only with respect to Royalty and FTS but since consumables were supplied along with P&M given on hire, therefore, the receipts were taxable u/s 44BB - AT

  6. Scope of Section 44BB - Reference to full bench - amount reimbursed to the assessee (service provider) by the ONGC (service recipient), representing the service tax paid...

  7. Taxable income to tax u/s 44BB v/s Section 44DA read with section 9(l)(vii) - The profit from this income was estimated at 25% and offered to tax at 40% plus applicable...

  8. Deemed dividend u/s 2(22)(e) – Security deposits received from sister concern - colourable device adopted to avoid the incidence of tax or not - Held no - not taxable - HC

  9. Assessee’s society is covered by the doctrine of mutuality and this amount was not taxable - income received from the members is exempt and the income received from...

  10. Amount received towards SIM Card form part of the taxable value for levy of service tax, SIM Cards are never sold as goods independent from services provided – SC

 

Quick Updates:Latest Updates