Daily digest for Gupta Chandan & Associates, on January 22, 2022

posted: "INCOME TAX : Co-operative banks were brought withing ambit of section 36(1)(viia) by Finance Act, 2007 with effect from 1-4-2007, thus said banks would be non-schedule banks as defined in Explanation (i) to section 36(1)(viia) and would be eligible to cla" New post on Gupta Chandan & Associates Co-operative banks are eligible to claim bad debts if RBI grants license of scheduled bank with retro effect: ITAT INCOME TAX : Co-operative banks were brought withing ambit of section 36(1)(viia) by Finance Act, 2007 with effect from 1-4-2007, thus said banks would be non-schedule banks as defined in Explanation (i) to section 36(1)(viia) and would be eligible to claim bad debts in respect of rural branchesINCOME TAX : Co-operative banks were brought withing […] Read more of this post January 22, 2022 at 12:00 am | Categories: Latest Case Laws, News | URL: https://wp.me/pcenIR-20Q Comment    See all comments Unsubscribe to no longer receive posts from Gupta Chandan & Associates. Change your email settings at Manage Subscriptions. Trouble clicking? Copy and paste this URL into your browser: https://www.guptachandanassociates.com/news/co-operative-banks-are-eligible-to-claim-bad-debts-if-rbi-grants-license-of-scheduled-bank-with-retro-effect-itat/

posted: "INTERNATIONAL TAXATION : Where assessee company incurred design expenses for purchase of design/theme for its products from a foreign party, since assessee had not hired expert technical persons for availing any profession, managerial or consultancy servi" New post on Gupta Chandan & Associates Co. to be treated as beneficial owner of car purchased in name of its director; eligible for Dep.: ITAT INTERNATIONAL TAXATION : Where assessee company incurred design expenses for purchase of design/theme for its products from a foreign party, since assessee had not hired expert technical persons for availing any profession, managerial or consultancy services and foreign party had given clarifications that design/theme were developed as its own and sold to assessee, payment made […] Read more of this post January 22, 2022 at 12:00 am | Categories: Latest Case Laws, News | URL: https://wp.me/pcenIR-20P Comment    See all comments Unsubscribe to no longer receive posts from Gupta Chandan & Associates. Change your email settings at Manage Subscriptions. Trouble clicking? Copy and paste this URL into your browser: https://www.guptachandanassociates.com/news/co-to-be-treated-as-beneficial-owner-of-car-purchased-in-name-of-its-director-eligible-for-dep-itat/

posted: "The Central Board of Direct Taxes (CBDT) has notified 'National Skill Development Corporation' a body constituted by Central Government. Sum received in form of Government grants, grants for skill development, capital gains out of investment in an organis" New post on Gupta Chandan & Associates CBDT notifies 'National Skill Development Corporation' for exemption under section 10(46) The Central Board of Direct Taxes (CBDT) has notified 'National Skill Development Corporation' a body constituted by Central Government. Sum received in form of Government grants, grants for skill development, capital gains out of investment in an organisation for skill development, etc. shall be eligible for exemption.The Central Board of Direct Taxes (CBDT) has notified […] Read more of this post January 22, 2022 at 12:00 am | Categories: Latest Statutory Happenings, News | URL: https://wp.me/pcenIR-20O Comment    See all comments Unsubscribe to no longer receive posts from Gupta Chandan & Associates. Change your email settings at Manage Subscriptions. Trouble clicking? Copy and paste this URL into your browser: https://www.guptachandanassociates.com/news/cbdt-notifies-national-skill-development-corporation-for-exemption-under-section-1046/