Category: Articles

BEPS: Master File And CbCr: Step Towards Making World One Tax Jurisdiction

CA Chaitanya Maheshwari and Advocate Ameya Khare have explained the entire law and practice relating to Master File (MF) documentation and Country-by-Country Reporting (CbCR) as are applicable under sections 92D and 286 of the Income-tax Act, 1961 read with the OECG guidelines on ‘Base Erosion and Profit Shifting’ (BEPS)

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A Subtraction Which Needs Addition – Section 16(1) Of The I.T. Act, 1961 – Standard Deduction Of Salary Class

CA Prarthana Jalan has argued that though the salaried class of taxpayers pays taxes honestly, they have been given a raw deal by the Government. She claims that the removal of the age-old right to claim standard deduction is discriminatory and unjust and contrary to the prevailing international practice. She has pleaded that the Finance Minister should undo the injustice meted out to the salaried taxpayers by restoring the standard deduction in the forthcoming Budget

Allocation Of Separate Budget For Tax Sites/Govt Portals Is The Need Of The Hour

CA Prarthana Jalan has argued that the frequent breakdowns of the Government’s websites has put the Government in bad light and is making mockery of the grandiose digital India plans. She has pleaded that the Finance Minister should allocate funds towards beefing up the infrastructure so that the websites are able to take the ever-increasing number of taxpayers

Law On Cash Transactions – A Study Of The Paradigm Shift

Advocate Kapil Goel has explained that there is a paradigm shift in the manner in which the Legislature and Courts are viewing cash transactions. He has conducted a thorough study of the regulatory provisions and judicial pronouncements relating to cash

Real Estate Development – Guide To Implications Of Income-tax Act, Real Estate Regulatory Authority (RERA) And Goods And Services Tax (GST) Act

Firoze B. Andhyarujina, Senior Advocate, has provided a masterful analysis of the entire law applicable to real estate development contracts from the perspective of the Income-tax Act, 1961, the Real Estate Regulatory Authority (RERA) and the Goods And Services Tax (GST). Important judgements in support of the propositions are also cited

Penalty For Under-Reporting Of Income U/s 270A Of The Income-tax Act, 1961

Advocate Deepa Khare has explained the entire law relating to the imposition of penalty under the newly-introduced section 270A of the Income-tax Act, 1961. She has explained the precise differences between the erstwhile s. 271(1)(c) and 270A. She has also analyzed all the important judgements rendered in the context of s. 271(1)(c) and explained their relevance to s. 270A

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Digest Of Important Judgements On Transfer Pricing, International Tax And Domestic Tax (July To September 2017)

Shri Sunil Moti Lala, Advocate, has prepared a compilation of 500 important judgments on transfer pricing (257 cases), International Tax (15 cases) and Domestic Tax (228 cases) reported in the period from July to September 2017. The author has meticulously

Finally, We Have Got More Time To Bat -The Test-Match Got Extended Till 7th November, 2017

CA Prarthana Jalan has equated the filing of GST and income-tax returns to a grueling test match being played by the taxpayers and the professionals. She laments that even the complex “duckworth lewis” rules look simpler compared to the GST and income-tax rules. She also laments that the “pitch” (website) is so badly prepared that the players have to retire hurt. Fortunately, the CBDT has extended the overs by giving the 11th hour extension and this will enable the weary professionals to complete the match

S. 254(2): The Law On Limitation Period For Filing Rectification Applications Before The ITAT

Advocate S. M. Surana has analyzed the recent judgement of the ITAT in DCIT vs. Hita Land Pvt Ltd which holds that the reduced period of six months for filing rectification applications applies to all rectification applications filed after 1st

Liability Of Electronic Commerce Operators To Pay GST

Advocate Sanjiv M. Shah has studied the law relating to the levy of GST on online retailers like Amazon, Flipkart etc and its consequences for customers. He has explained all the nuances of the law in the context of the

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