Publications

12 August 2022
Finance Act 2021 revamped the entire reassessment proceedings with effect from 01 April 2021, wherein the pre-existing regime was substituted with the corresponding new regime along with introduction of new section 148A of the Income Tax Act, 1961...
12 August 2022
In view of careful interpretation and analysis of the fundamentals of Constitution, the Supreme Court verdict in the case of M/s. Mohit Minerals Pvt Ltd has clearly etched its spot as one of the most significant rulings of the recent times.
12 August 2022
The Finance Bill 2022 was introduced in the Lok Sabha on 1st February 2022. On 24th March 2022, the Finance Minister, Nirmala Sitharaman, proposed about 39 changes to be made in the Bill and the same was passed by the Lok Sabha on March 25, 2022...
12 August 2022
As per the provisions of section 40(a)(i)(a) of the Income Tax Act, 1961 (‘IT Act’), if an assessee who pays a sum of money by way of interest, royalty, fees for technical services or any other sum to a person outside India or within India, fails to...
12 August 2022
Finance Act 2022 inserted a new section 194R of the Income Tax Act, 1961 (‘the Act’), which mandates a person, who is responsible for providing any benefit or perquisite (whether convertible into money or not) to an Indian resident, to deduct tax at...
12 August 2022
The Finance Act 2022 has introduced section 194R of the Income Tax Act, 1961 (‘the Act’), which provides for deduction of tax (‘TDS') by any person who is providing benefit or perquisite (whether convertible into money or not) to an Indian resident...
14 July 2022
SA 701 Communicating Key Audit Matters in the Independent Auditor’s Report has been applicable from audits for financial statements of listed companies since past 2-3 years. This auditing standard requires the statutory auditor to identify and...
1 July 2022
Distribution of incentives (i.e. freebies) by pharmaceutical and allied health sectors industries to doctors, medical practitioners etc. and its allowability of claim as business expenditure in the light of Explanation 1 to section 37(1) of the...
1 July 2022
On 17 June 2022, Central Board of Direct Taxes (‘CBDT’) issued Notification No. 66 /2022/F. No. 370142/26/2022-TPL. Vide this Notification, the CBDT has extended the Safe Harbour Rules (‘SHR’) to Assessment Year (‘AY’) 2022-23 relevant to the...
1 July 2022
Finance Act 2022 inserted a new section 194R of the Income Tax Act, 1961 (‘the Act’), which mandates a person, who is responsible for providing any benefit or perquisite (whether convertible into money or not) to an Indian resident, to deduct tax at...

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