Daily Archives: February 21, 2018

Scope of long term bonds u/s 54EC Income Tax extended from AY 2018-19

By | February 21, 2018

CBDT CIRCULAR NO.2/2018 [F.NO.370142/15/2017-TPL], DATED 15-2-2018 31. Expanding the scope of long term bonds under 54EC. 31.1 Section 54EC of the Income-tax Act provides that capital gain to the extent of Rs. 50 lakhs arising from the transfer of a long term capital asset shall be exempt if the assessee invests the whole or any part of… Read More »

Cost of acquisition in Tax neutral demerger of foreign company.

By | February 21, 2018

CBDT CIRCULAR NO.2/2018 [F.NO.370142/15/2017-TPL], DATED 15-2-2018 29. Cost of acquisition in Tax neutral demerger of a foreign company. 29.1 Section 47(vic) of the Income-tax Act provides that the transfer of shares of an Indian company by a demerged foreign company to a resulting foreign company will be not regarded as transfer. 29.2 Section 49 of the Income-tax Act… Read More »

section 115TD : Cost of Acquisition of capital assets of entities

By | February 21, 2018

CBDT CIRCULAR NO.2/2018 [F.NO.370142/15/2017-TPL], DATED 15-2-2018 28. Cost of Acquisition of capital assets of entities in case of levy of tax on accreted income under section 115TD. 28.1 The provisions of the section 49 of the Income-tax Act provides for computation of cost with reference to certain modes of acquisition of capital asset. 28.2 The said section has… Read More »

Capital gain exemption to Rupee Denominated Bonds from AY 2018-19

By | February 21, 2018

CBDT CIRCULAR NO.2/2018 [F.NO.370142/15/2017-TPL], DATED 15-2-2018 27. Extension of capital gain exemption to Rupee Denominated Bonds. 27.1 With a view to provide relief to non-resident investors, in the wake of permission to the Indian corporates by the Reserve Bank of India (the RBI) to issue rupee denominated bonds outside India as a measure to enable the Indian… Read More »

Tax neutral conversion of preference shares to equity shares ; AY 2018-19

By | February 21, 2018

CBDT CIRCULAR NO.2/2018 [F.NO.370142/15/2017-TPL], DATED 15-2-2018 26. Tax neutral conversion of preference shares to equity shares. 26.1 Conversion of security from one form to another is regarded as transfer for the purpose of levy of capital gains tax under the provisions of the Income-tax Act. However, tax neutrality on conversion of bond or debenture of a company… Read More »

No Recovery proceedings before expiry of limitation period to file appeal before ITAT : HC

By | February 21, 2018

[2018] 22122017 TaxHeal.com 21022018 income tax HIGH COURT OF MADRAS Rapid Care Transcription (P.) Ltd. v. Income Tax Officer, Corporate Ward 5(4), Chennai T. S. SIVAGNANAM, J. WRIT PETITION NO. 33765 OF 2017 W.M.P NOS. 37408 AND 37410 OF 2017 DECEMBER  22, 2017 K. Jayachandran for the Petitioner. Mrs. Hema Muralikrishnan, Sr. Standing Counsel for the Respondent. ORDER 1. Heard… Read More »

Taxmann’s Guide to Taxation of Long Term Listed Equity Shares : Finance Bill 2018

By | February 21, 2018

Taxmann’s Guide to Taxation of Long Term Listed Equity Shares Guide To Taxation of Long Term Listed Equity Shares The Government has proposed to curtail the exemption for capital gains arising from transfer of listed equity shares and mutual fund units by amending certain provisions and introducing new section 112A. This book provides a threadbare… Read More »

[Video] IGST Refund on export of goods : Issues Resolved by GSTN

By | February 21, 2018

IGST Refund on export of goods : Issues Resolved by GSTN Related Topic on GST  Topic Click Link GST Acts Central GST Act and States GST Acts GST Rules GST Rules  GST Forms GST Forms GST Rates GST Rates GST Notifications GST Act Notifications GST Circulars GST Circulars  GST Judgments GST Judgments GST Press Release… Read More »

Taxmann’s Professional’s Guide to GST : 4th Edition 2018 Book : Abhishek A. Rastogi

By | February 21, 2018

Taxmann’s Professional’s Guide to GST by Abhishek A. Rastogi Price Rs 1995 Click to buy online Author : ABHISHEK A. RASTOGI Edition : 4th Edition (Revised & Reprint) 2018 Date of Publication : February 2018 ISBN No.:9789387702240 Binding : Paperback No. Of Pages : 1234 Weight (Kgs) : 1.225 View Contents of this Book Related Topic on GST  Topic Click Link GST… Read More »

Section 2 of Tamil Nadu GST Act 2017 : Definitions

By | February 21, 2018

Section 2 of Tamil Nadu GST Act 2017 ( Section 2 of Tamil Nadu GST Act 2017 explains Definitions and is covered in  CHAPTER 1  PRELIMINARY )  Definitions 2. In this Act, unless the context otherwise requires,— (1) “actionable claim” shall have the same meaning as assigned to it in section 3 of the Transfer of Property Act, 1882 (Central Act… Read More »

Section 5 of Tamil Nadu GST Act 2017 : Powers of officers

By | February 21, 2018

Section 5 of Tamil Nadu GST Act 2017 ( Section 5 of Tamil Nadu GST Act 2017 explains Powers of officers and is covered in  CHAPTER II  ADMINISTRATION )  [  Enforced with effect from 28-6-2017.] Powers of officers 5. (1) Subject to such conditions and limitations as the Commissioner may impose, an officer of State tax may exercise the powers and discharge… Read More »

Section 4 of Tamil Nadu GST Act 2017 : Appointment of officers

By | February 21, 2018

Section 4 of Tamil Nadu GST Act 2017 ( Section 4 of Tamil Nadu GST Act 2017 explains Appointment of officers and is covered in  CHAPTER II  ADMINISTRATION )  [ Enforced with effect from 28-6-2017.] Appointment of officers 4. (1) The Government may, in addition to the officers as may be notified under section 3, appoint such persons as it may think… Read More »

Section 3 of Tamil Nadu GST Act 2017 : Officers under this Act

By | February 21, 2018

Section 3 of Tamil Nadu GST Act 2017 ( Section 3 of Tamil Nadu GST Act 2017 explains Officers under this Act and is covered in  CHAPTER II  ADMINISTRATION )  [. Enforced with effect from 28-6-2017.] Officers under this Act 3. The Government shall, by notification, appoint the following classes of officers for the purposes of this Act, namely:— (a) Commissioner of… Read More »

Section 1 of Tamil Nadu GST Act 2017 : Short title, extent and commencement

By | February 21, 2018

Section 1 of Tamil Nadu GST Act 2017 ( Section 1 of Tamil Nadu GST Act 2017 explains Short title, extent and commencement and is covered in  CHAPTER 1  PRELIMINARY )  Short title, extent and commencement 1. (1) This Act may be called the Tamil Nadu Goods and Services Tax Act, 2017. (2) It extends to the whole of the State… Read More »

[Video] GST News [ Part 169 ] Valuation FAQs : by CA Satbir Singh ! TaxHeal.com

By | February 21, 2018

GST News [ Part 169 ] Valuation FAQs : by CA Satbir Singh ! TaxHeal.com Related Topic on GST  Topic Click Link GST Acts Central GST Act and States GST Acts GST Rules GST Rules  GST Forms GST Forms GST Rates GST Rates GST Notifications GST Act Notifications GST Circulars GST Circulars  GST Judgments GST… Read More »