Tax Management India. Com
Law and Practice: A Digital eBook ...

☞ Data-bank

TMI - Tax Management India. Com

Case Laws Acts Notifications Circulars Classification Forms Articles News D. Forum

What's New Latest Cases

Share:

F: IGST Mechanism and availability of ITC

H: Demand and Recovery u/s 74 - Cross state adjustment of unutilized inpu...

H: Validity of SCN - Denial of Input Tax Credit - complete mismatch betwe...

H: Condonation of delay in filing appeal - requirement of mandatory pre-d...

H: Classification of services - rate of GST - (Training Academy) Fire Pre...

H: Seeking grant of Bail - input tax credit - non-existent suppliers - no...

H: Disallowance u/s. 43B - Electricity Duty deposited into designated ban...

H: Addition u/s 69A - unexplained investment in the bank account - Though...

H: Levy of penalty u/s 272A(1)(C) - Failure to comply to the summon issue...

H: Deemed dividend under section 2(22)(e) - assessee claimed that advance...

H: Disallowing excess directors remuneration - sum paid towards directors...

H: Nature of expenditure - Disallowing revenue expenditure on product tes...

H: Correct head of income - Characterization of income - rental income as...

H: Gain on sale of plot - capital Income or business income - assessee is...

H: Initiation of CIRP - Period of limitation - Article 137 of the Limitat...

C: Deposit of tax during the course of search, inspection or investigation.

F: Works Contract Service

F: Input Reversal on Capital Goods

H: Requirement of pre-deposit - Rejection of appeal - Since statutory dep...

India projects itself as a reliable partner, stable economy and an att...

DEA organises a 2-day workshop on Awareness Building and Guidance on u...

A: Reporting of Export Value and Taxes in Wrong Table of GSTR 3B being Te...

A: LATEST CASE LAWS IN ARBITRATION

A: RECENT DEVELOPMENTS IN GST

A: Can CA be arrested- Section 69 vs. Section 132 of the CGST Act

C: Guidelines on import of gold by Qualified Jewellers as notified by – T...

N: Amendment in Export Policy of sugar

N: ADD on Decor Paper originating in or exported from China PR - Seeks to...

N: Amendment in import policy of Paper and incorporation of policy condit...

C: Simplification of procedure and standardization of formats of document...

Income Tax - Highlights / Catch Notes

Home Highlights December 2021 Year 2021 This
← Previous	Next →

Income Tax - Professional income V/s Salary income - When an assessee...

Income Tax
13-12-2021

Professional income V/s Salary income - When an assessee insists that he is rendering professional / technical services to a company, the burden is on him to prove the same. - Only such expenditure which has been incurred wholly and exclusively to earn a particular income is allowable as a deduction from such income. In the instant case, there is no relation whatsoever between the interest expenditure from a mortgaged loan and the payment received for rendering certain services. Advancing interest free loans to the employer company cannot be a ground for claiming deduction of interest expenditure from the salary income received from it. - AT

View Source......Full Text

← Previous

Next →

|| Home || About us || Feedback || Contact us || Disclaimer || Terms of Use || Privacy Policy || Database || Members || Refer Us ||

© Taxmanagementindia.com [A unit of MS Knowledge Processing Pvt. Ltd.] All rights reserved.
|| Site Map - Recent || Site Map || ||