The Finance Bill, 2022 has proposed to insert an explanation to Section 14A of the Income-tax Act, 1961 to state that bereft exempt income being earned in any year, disallowance under Section 14A will still be attracted. The article in this issue of Direct Tax Amicus, in this regard, elaborately discusses various issues that may crop up once the provisions are enacted.

The article in this issue of Direct Tax Amicus elaborately discusses a restriction under various provisions of the Income Tax Act, granting certain tax holidays to new businesses and providing that the new business should ‘not be formed by splitting up, or the reconstruction, of a business already in existence’.

The article in this issue of Direct Tax Amicus examines the question as to whether after the enactment of new reassessment law from 1 April 2021, the reassessment notice can still be issued under the old law till 30 June 2021 and whether the old law remains alive for such cases because of the Taxation and Other Laws (Relaxation and Amendment of Certain Provisions) Act, 2020 and subsequent notifications. The article notes that the issue has been contested before various...

The amendment by Finance Act, 2021 seeks to tax notional interest on Employee’s contribution to specified provident fund, exceeding the threshold limit made on or after 1 April 2021. Recently, the Income Tax Rules have been amended to lay down the manner of computation of taxability of interest.

The article in this issue of Direct Tax Amicus attempts to analyze the aspect of determining the year of taxability of capital gains arising out of the transfer of immovable property under Joint Development Agreements (‘JDAs’). It analyses the provisions of the Income Tax Act, 1961 and the jurisprudence laid down by various Courts and ITAT in case of registered JDAs.

The article in this issue of Direct Tax Amicus analyses the various income-tax implications of the amendments in Section 135 of the Companies Act, 2013 and the Companies (CSR Policy) Rules, 2014 with effect from 22 January 2021, and related aspects, on the companies and charitable trusts/societies being implementing agencies.

The article in this issue of Direct Tax Amicus elaborately discusses the recently introduced definition of ‘liable to tax’ in the Income-tax Act, 1961. Tracing the history of the dispute relating to the phrase in determination of residency under Double Taxation Avoidance Agreements (DTAA),

The article in this issue of Direct Tax Amicus elaborately discusses the recently introduced definition of ‘liable to tax’ in the Income-tax Act, 1961. Tracing the history of the dispute relating to the phrase in determination of residency under Double Taxation Avoidance Agreements (DTAA),

The transfer of immovable property by land owners under the mechanism of Joint Development Agreement (‘JDA’) has evolved over the years. The article in this issue of Direct Tax Amicus analyses the provisions of Section 45(5A) of the Income-tax Act, 1961 in a scenario where the JDA is unregistered.

The article in this issue of Direct Tax Amicus attempts to discuss the dispute as to whether income-tax includes in its ambit the surcharge and cess also.