GST History (India) – 13 years Long Journey Free Education Guide on Goods & Service Tax (GST) SR No Topic -GST Resources 1 Model GST Law Model GST Law 2 GST Overview Goods and Services Tax (GST): An Overview Integrated Goods & Service Tax (IGST) Act Overview Meaning and Scope of Supply Time of… Read More »
The Supreme Court allowed a company a share issue expenditure under section 35D, and also allowed a bonus expenditure, even though the bonus amount was deposited in a trust and, at the end of a dispute with employees, was paid over to them. The case is: Shasun Chemicals and Drugs Ltd. Read KPMG an October… Read More »
Treatment of interest paid on partner’s capital The Pune Bench of the Income-tax Appellate Tribunal held that interest paid with respect to a partner’s capital is not an “expenditure” but is an amount in the nature of a deduction under section 40(b) of the Income-tax Act, 1961. The case also involved an investment in mutual… Read More »
Revised income computation and disclosure standards (ICDS): The Ministry of Finance issued a revised ICDS, as a new framework for computation of taxable income in relation to income under the headings “Profit and gains of business or profession” and “Income from other sources.” Application of the new ICDS has been deferred by one year, and… Read More »
11 October 2016 Jenny Wong analyses a recent Federal Court decision regarding Australia’s rights to tax payments to an Indian company in Australia. The Full Court handed down its decision for Tech Mahindra Limited v Commissioner of Taxation [2016] FCAFC 130 (22 September 2016). The case concerns the Australia and India Treaty and whether Australia… Read More »
Foreign stamp duty surcharge The Queensland Commissioner of State Revenue (the Commissioner) has recently released three Guidelines to assist taxpayers in determining when the new Additional Foreign Acquirer Duty (AFAD) rules under the Queensland Duties Act will apply. Under the rules, from 1 October 2016, an additional 3 percent stamp duty surcharge will apply to certain… Read More »
Health Care Tax Tip HCTT 2016-73 October 12, 2016 Filing Extension Deadline Almost Here Double Check ACA Information on Your Return If you received an extension of time to file your 2015 federal tax return, you have until Oct. 17 to double check your return and information on it that is related to… Read More »