Amendments, Clarifications, controversies & Litigation of issues related to Section- 40 (a) (ia) of the Income Tax Act, 1961

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ANUMITA SARKAR Controversies evolving out of each amendment to section 40 (a) (ia) seem to have come to an end, thereby giving some sigh of relief to the assessees & their Tax Representatives, till the time it receives it’s final verdict from the highest judicial authority i.e. Supreme Court of India IDEOLOGIES OF TAXATION: Law… Read more »

Direct Tax Code

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Direct Tax Code vis-à-vis Income Tax Act,1961 Direct Tax: Direct tax is the tax which is charged directly on the tax payer.  In other words direct tax is that tax that is deducted from one’s salary. In the general sense, a direct tax is one paid directly to the government by the persons on whom… Read more »

Demerger – An Analysis

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Definition and Meaning of Demerger: Demerger is a form of corporate restructuring. One of the prime reasons why large corporate houses go in for demerger is to increase the role of specialisation in the particular segment. In case of large conglomerates, demerging entities often are the departments which are growing at an impressive rate and… Read more »