Phasing out of incentives under the Income-tax Act, 1961 : Effective from : A.Y. 2017-18 (i) The Finance Minister in his Budget Speech, 2015 has indicated that the rate […]
All posts by TANI AGARWAL - 15. page
Professional Tax Consultant and Article Writer
Deduction under section 32AC to be available in the year of installation in respect of actual cost of new plant and machinery acquired in the P.Y.2015-16 and P.Y.2016-17, if the actual cost of such new plant and machinery acquired in the relevant previous year exceeds ` 25 crores, even if the new plant and machinery has not been installed in the relevant previous year but has been installed on or before 31.3.2017
Deduction under section 32AC to be available in the year of installation in respect of actual cost of new plant and machinery acquired in the P.Y.2015-16 and P.Y.2016-17, if the […]
Assessees engaged in the business of transmission of power eligible for additional depreciation [Section 32(1)(iia)]
Assessees engaged in the business of transmission of power eligible for additional depreciation [Section 32(1)(iia)] Effective from: A.Y. 2017-18 (i) Section 32(1)(iia) allows additional depreciation@20% in respect of the cost of […]
Non-compete fee received/receivable for not carrying on a profession chargeable under the head “Profits and gains of business or profession” [Section 28(va)] Related amendment in section: 55 Effective from: A.Y.2017-18
Non-compete fee received/receivable for not carrying on a profession chargeable under the head “Profits and gains of business or profession” [Section 28(va)] Related amendment in section: 55 Effective from: A.Y.2017-18 (i) […]
Special provision for arrears of rent and unrealized rent received subsequently [New Section 25A]
Special provision for arrears of rent and unrealized rent received subsequently [New Section 25A] Effective from: A.Y.2017-18 (i) At present, section 25AA contains the special provisions on taxation of unrealised […]
Extension of period for completion of construction from 3 years to 5 years, for claiming higher deduction of upto ` 2 lakh in respect of interest on capital borrowed for construction of self-occupied house property
Extension of period for completion of construction from 3 years to 5 years, for claiming higher deduction of upto ` 2 lakh in respect of interest on capital borrowed for construction of […]
News agency notified for the purpose of section 10(22B) [Notification No. 72/2015, dated 24.8.2015]
News agency notified for the purpose of section 10(22B) [Notification No. 72/2015, dated 24.8.2015] : Section 10(22B) provides that any income of a news agency set up in India solely […]
Investment in Stock Certificate as defined in the Sovereign Gold Bonds Scheme, 2015 notified as eligible form of investment by a charitable trust [Notification No. 21/2016, dated 23-03-2016]
Investment in Stock Certificate as defined in the Sovereign Gold Bonds Scheme, 2015 notified as eligible form of investment by a charitable trust [Notification No. 21/2016, dated 23-03-2016] Section 11(2)(b) […]
Payment from NPS Trust to an employee on closure of his account or on his opting out of the pension scheme exempt to the extent of 40% of such payment [Section 10(12A)]
Payment from NPS Trust to an employee on closure of his account or on his opting out of the pension scheme exempt to the extent of 40% of such payment […]
Exemption of interest on deposit certificates issued under the Gold Monetization Scheme, 2015 [Section 10(15)(vi)]
Exemption of interest on deposit certificates issued under the Gold Monetization Scheme, 2015 [Section 10(15 (vi)] Related amendment in section: 2(14) Effective from: A.Y.2016-17 (i) Sub-clause (vi) of section 10(15) exempts […]