by 1 users

Insurance sector asked for separate limit under section 80C for long-term saving |Tax Guru

We would recommend a separate limit for deductions under Section 80C for long-term saving instruments such as life insurance. Currently, the deduction under Section 80C also includes short-term saving instruments such as mutual funds a

http://www.taxguru.in/budget-2010/insurance-sector-aske
d-for-separate-limit-under-section-80c-for-long-term-sa
ving.html

first added by kanoisandeep, last updated 2 years 2 months ago

by 1 users

Life insurers demanded EEE method instead of EET in DTC, allow to carry forward loss for 12 years and service tax exemption | Tax Guru

Life insurance companies want the current system of tax exemption for insurance maturity proceeds to be continued. The proposed Direct Taxes Code has suggested deduction of tax on the final payout, while exempting the policy premium at the time of co...

http://www.taxguru.in/direct-tax-code/life-insurers-dem
anded-eee-method-instead-of-eet-in-dtc-allow-to-carry-f
orward-loss-for-12-years-and-service-tax-exemption.html

first added by kanoisandeep, last updated 2 years 3 months ago

by 1 users

Deduction U/s. 10A of the Income Tax Act is allowable without set off of losses of non-eligible units | Tax Guru

Scientific Atlanta vs. ACIT (ITAT Chennai Special Bench) In respect of AY 2003-04, the assessee had an unit in Chennai which was engaged in software development and whose profits were eligible for deduction u/s 10A. The assessee had another unit in

http://www.taxguru.in/income-tax-case-laws/deduction-us
-10a-of-the-income-tax-act-is-allowable-without-set-off
-of-losses-of-non-eligible-units.html

first added by kanoisandeep, last updated 2 years 3 months ago

by 1 users

Right to set-off loss is a “vested right” which is available despite amendment in year of set-off |Tax Guru : Complete Tax Solution

In the Case of: Geetanjali Trading Limited Vs. The Income Tax Officer, Decided By : ITAT Mumbai, Appeal No: I.T.A. No. 5428/ MUM/ 2007.In AY 2002-03, the assessee suffered a long-term capital loss. U/s 74(1) as it then stood, such loss could be carr...

http://www.taxguru.in/income-tax-case-laws/right-to-set
-off-loss-is-a-“vested-right”-which-is-available-despit
e-amendment-in-year-of-set-off.html

first added by kanoisandeep, last updated 2 years 4 months ago

by 1 users

Determination of ALP of an international transaction |Tax Guru : Complete Tax Solution

How much tax is paid by the foreign AE is not relevant in the determination of correct tax liability in the hands of the Indian enterprise; what is material is that the rightful tax payable in India should not suffer due to the adjustment of price fo...

http://www.taxguru.in/income-tax-case-laws/determinatio
n-of-alp-of-an-international-transaction.html

first added by kanoisandeep, last updated 2 years 4 months ago

by 1 users

RBI allowed inclusion of technical write-offs while calculating provision coverage ratio |Tax Guru : Complete Tax Solution

Allows inclusion of technical write-offs while calculating provision coverage ratio. In a relief to a large number of banks such as Canara Bank, the Reserve Bank of India (RBI) has allowed the lenders to include technical write-offs while increasing ...

http://www.taxguru.in/rbi/rbi-allowed-inclusion-of-tech
nical-write-offs-while-calculating-provision-coverage-r
atio.html

first added by kanoisandeep, last updated 2 years 5 months ago

by 1 users

Set-off & Carry Forward of losses in direct tax code: Carry forward of loss permitted only if return filed within due date » |Tax Guru

Set-off

http://www.taxguru.in/income-tax/set-off-carry-forward-
of-losses-in-direct-tax-code-carry-forward-of-loss-perm
itted-only-if-return-filed-within-due-date.html

first added by kanoisandeep, last updated 2 years 8 months ago

by 1 users

ICAI, NACAS cross swords over accounting norms related to MTM losses » |Tax Guru

National Advisory Committee on Accounting Standards (NACAS) may have favoured suspension of mark-to-market accounting norms on foreign exchange transactions for corporate sector for two years, but Institute of Chartered Accountant

http://www.taxguru.in/audit/icai-nacas-cross-swords-ove
r-accounting-norms-related-to-mtm-losses.html

first added by kanoisandeep, last updated 2 years 9 months ago

Insurance sector asked for separate limit under section 80C for long-term saving |Tax Guru

Life insurers demanded EEE method instead of EET in DTC, allow to carry forward loss for 12 years and service tax exemption | Tax Guru

Deduction U/s. 10A of the Income Tax Act is allowable without set off of losses of non-eligible units | Tax Guru

Right to set-off loss is a “vested right” which is available despite amendment in year of set-off |Tax Guru : Complete Tax Solution

Determination of ALP of an international transaction |Tax Guru : Complete Tax Solution

RBI allowed inclusion of technical write-offs while calculating provision coverage ratio |Tax Guru : Complete Tax Solution

Set-off & Carry Forward of losses in direct tax code: Carry forward of loss permitted only if return filed within due date » |Tax Guru

ICAI, NACAS cross swords over accounting norms related to MTM losses » |Tax Guru

Jumptags

General Help

Community

Your Account

Advertise