INCOME TAX

Article Posted On : Aug-2018

Case Law : Education cess is not hit by Sec 40a(ii)

Rajasthan H C holds that, education cess is not hit by Sec 40a(ii) and not to be disallowed

Case Law: Cost of land -Sec 54 exemption.

Rejects revenue’s stand that, the cost of house property not includes cost of land and that it includes cost of construction of house only.

Reporting relating to GAAR and GST in the amended 3CD deffered till 31-03-2019

Clauses 30C and 44 of the amended form 3CD is deferred till 31.03.2019

Payment made to a RETIRING partner- Business Expense

Payment made to a partner on settlement of a family dispute even though not as a royalty or business expenditure is deductible from business income

Excess share premium received BY A CLOSELY HELD COMPANY

Excess share premium received by the assessee company, is taxable

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