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| BTX/17/2012 |
If payee is not identificable, TDS provisions are not applicable. Amounts disallowed under section 40(a)(i)/40(a)(ia) for non deduction of tax cannot be again subject to TDS provisions in order to treat the assessee as an assessee in default |
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| BTX/16/2012 |
Tax Accounting Standards (TAS) |
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| BTX/15/2012 |
Unabsorbed depreciation as existing on 1 April 2002 is allowed to be carried forward indefinitely as per amendment to section 32(2) by Finance Act, 2001. |
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| BTX/14/2012 |
Payments for Transmission and Wheeling Charges are in the nature of Fees for Technical Services. Payments for SLDC charges are not in the nature of Fees for Technical Services. |
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| BTX/13/2012 |
CBDT issues Circular on inadmissibility of expenses incurred in providing freebies to medical practitioners by pharmaceutical and allied health sector industry |
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| BTX/12a/2012 |
Tribunal not entitled to extend period of stay of demand beyond 365 days, even if the delay is not caused by the taxpayer |
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| BTX/12/2012 |
Withholding tax under section 194J would not apply in respect of subsequent transfer of software to a resident |
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| BTX/11/2012 |
Section 14A disallowance applies to partners share of profit. Depreciation is not expenditure and cannot be disallowed under section 14A |
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| BTX/10/2012 |
Amendment to Section 40(a)(ia) of the Income-tax Act, 1961 (“Act”) by Finance Act, 2010 to apply retrospectively from financial year 2005-06 |
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| BTX/09/2012 |
Transactions involving hire purchase and lease should be looked at in entirety to ascertain the genuineness of the transaction |
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| BTX/08/2012 |
Extension of relief period from 5 to 10 years in Section 10B available for existing units |
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| BTX/07/2012 |
Section 40(a)(ia) applies only to the amounts “payable” as on balance sheet date and not to the amounts already “paid” during the year. |
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| BTX/06/2012 |
Lessor not entitled to depreciation in case of finance lease |
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| BTX/05/2012 |
Meaning of “General Reserves” for the purpose of deduction under section 36(1)(viii) restricted |
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| BTX/04/2012 |
Write-off of bad debts relating to non-rural advances allowable under section 36(1)(vii) |
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| BTX/03/2012 |
Profits on share transactions carried through Portfolio Management Scheme (PMS) taxable as business income and not capital gains |
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| BTX/02/2012 |
Carried forward business loss cannot be set-off against the long term capital gains arising from the sale of land used for business |
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| BTX/01/2012 |
Concessional rate of 20% applicable to long term capital gains cannot be applied for gain on depreciable asset held for more than 36 months. |
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