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 ...


Section 28 Amended: Payments for Non-Compete Agreements Now Taxable as Business or Professional Income.

February 29, 2016

Act Rules     Bill

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. Nature of payment of compensation in lieu of the non-compete agreement after retirement - whether non taxable in the hands of the assessee being a capital receipt -...

  2. Taxability of Non-Compete fees – post amendment in Sec. 28 with the insertion of Clause (va) to section 28, the Non compete fee of Rs. 5 crores received by the assessee...

  3. Declared Service u/s 66 E(e) of FA or not - Business Transfer Agreement (BTA) entered by the Appellant having a non-compete clause - The tribunal held that, Adjudication...

  4. Non-compete fee receipt - consideration for transfer of the shares - Capital Gains or business income - In order to attract section 28(va)(a), there is no condition of...

  5. Receipts of Non-Compete Agreement - capital gain or business receipt - The Non-Compete Agreement was part and parcel of the sale of the business and cannot be seen in...

  6. TP - Non compete fees - Estimation of income - assessee had signed non compete agreement - no justification for non payment of non compete fees to the assessee -...

  7. Non-compete fees receipt - taxability under Section 17(3)(iii) or 28(va) as salary income or business income or not - profit in lieu of salary - assessee is an...

  8. Disallowance of the claim of depreciation on intangible asset - amalgamation scheme initiated - when there is no transfer of the asset as well as there is no valuation...

  9. Section 9 is being amended to exclude Extra Neutral Alcohol used in alcoholic liquor manufacture from central tax. Section 10(5) is amended to refer to new section 74A....

  10. Transfer of capital or transfer of business - Sale of equity shares of the private limited company - applicability of provisions of section 28(va) - transfer of...

  11. Non-Compete fees - taxability - chargeable to tax as ‘business income’ - AT

  12. Non-compete premium received by assessee is a business receipt assessable u/s. 28(va) - as in term of Article- 7 of DTAA any business income arising to the enterprise of...

  13. Liability to pay customs duty when confiscated goods are redeemed after payment of fine u/s 125 of the Customs Act, 1962 includes liability to pay interest on delayed...

  14. Characterization of receipt - Compensation receipt on termination of contract - Addition under Section 28(ii)(e) - The Tribunal differentiates between termination and...

  15. Disallowing the business advances written off - Trading loss u/s 28 - claim of assessee to be considered u/s. 28 or section 37 - In the present facts of the case, there...

 

Quick Updates:Latest Updates