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

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”

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

Bill

February 29, 2016

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The compensation so paid for not carrying any activity in relation to any business (commodity trading business) would be taxable going by the plain meaning of section 28(va)(a).

Transaction of gift of shares to a private limited company - the assessee is not carrying out any business or profession, therefore, the provisions of section 28(iv)...

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...

Nature of amount received in pursuance of Consent decree by HC – Authorities below rightly treated this sum as a receipt falling under Section 28(iv) of the I. T. Act - HC

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

Insertion of new section 44ADA - Special provision for computing profits and gains of profession on presumptive basis. - a sum equal to fifty per cent. of the total...

Taxability of compensation received - nexus with professional activities - the said compensation did not accrue / arise out of exercise of profession by the assessee and...

If cash assistance received or receivable against exports schemes are included as being income under the head "profits and gains of business or profession", it is...

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...

Taxability of difference between deferral sales tax liability and its prepayment at its NPV u/s. 28(iv) - Here in this case there is no benefit of perquisite arising to...

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