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  • February 20, 2019

No TDS to be Deducted from Training Fee

Sanyam Jain | Income Tax/ TDS | March 22, 2013 | Leave a Comment

No Tds on Training fee

Training fee cannot be termed as “fee for technical services” Training is a continuous process because technology is changing very fast and one needs to keep touch with such technology and therefore, expenses incurred towards training cannot be termed as “fee for technical services” Case: Lloyds Register Industrial Services (India) Pvt. Ltd. vs. ACIT [ITA […]

Service Tax on CA – Contrary view on Delhi HC decision

Sanyam Jain | Service Tax | February 9, 2013 | 31 Comments

Service tax on CA

Contrary View to Hon’ble Delhi High Court decision quashing Circular No. 154 & 158 with reference to Point of Taxation Rules, 2011. In a recent judgment dated 01-02-2013, the Hon’ble High Court of Delhi, in the case of Delhi Chartered Accountants Society (Regd.) V/s Union of India & Others, W.P.(C) 4456/2012 & C.M.No.9237/2012 (for stay, […]

Section 54EC: Minor Child is also Eligible for Deduction

Sanyam Jain | Capital Gain | February 7, 2013 | 3 Comments

Capital Gain Deduction Section 54EC

In a case where the income of minor child is clubbed with the income of the assessee u/s. 64(1A), the assessee is eligible for separate deduction u/s 54EC of the Act on investment in specified bonds on account of minor’s income being long term capital gains. Prior to insertion of proviso to section 54EC, for […]

Hinduism isn’t a Religion thus entitled for section 80G exemption

Sanyam Jain | Deductions/ Income Tax | November 12, 2012 | 2 Comments

Hinduism isn’t a Religion thus entitled for section 80G Exemption According to a recent case to Nagpur tribunal, Hinduism is not a religion. Thus a trust worship Lord Shiva or Lord Hanumana etc. is entitled to get section 80G exemption under income tax act as the same can’t be called religious activity. Full case law […]

Double Deduction of Interest on Housing Loan

Sanyam Jain | Capital Gain/ Deductions/ Income from House Property | November 12, 2012 | Leave a Comment

Claim Double Deduction of Interest on Housing Loan u/s 48 (Capital Gain) and u/s 24b (House Property) Assessee purchased a house property in the year 2003, which he sold in the financial year 2006-07. While computing capital gains from sale of such house, he claimed deduction under section 48 in respect of the interest on […]

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