The computation of period of limitation for completion of assessment process in cases involving review by DRP has been a subject matter of debate and dispute...

The article in this issue of Direct Tax Amicus discusses a recent ITAT decision wherein the Tribunal was called upon to adjudicate a question as to whether a Venn Diagram of two sets of

While agricultural operations have been modernised, the law for claiming income-tax exemption for agricultural operations has remained constant.

The article in this issue of Direct Tax Amicus examines the implications of fair value accounting advocated by the Accounting Standards issued by the ICAI.

Applicability of Transfer Pricing provisions are generally not envisaged where an Indian company is operating its branch office outside India.

The introduction of Section 194T in the Income-tax Act, 1961 represents a pivotal shift in the tax regime governing payments made by partnership firms and LLPs to their partners.

To secure funds for certain ventures requiring a substantial upfront capital outlay, companies often resort to issuing shares or incurring debt. However, these funds may not always be immediately deployed due to procedural delays in asset acquisition, statutory or contractual...

The Supreme Court recently upheld the Bombay High Court decision that the complete reduction of capital (resulting in cancellation of shares) amounts to ‘transfer’ in terms of Section 2(47) of the Income Tax Act, 1961...

In cases where the debt instruments are acquired in secondary markets, the acquisition of the security may entail payment of principal, unpaid interest and premiums.

Certain amendments to Employees’ Pension Scheme, 1995 in 2014 brought in multi-layered restrictions on the contributions that can be made to the Pension Fund, the benefits that would arise from any Pension Fund, additional conditions to be fulfilled to claim benefits out of past