UJA Taxation Times

Taxation Times is a monthly newsletter published by UJA with the intent and object to simplify and provide clarity on certain provisions of the Income Tax Act, discuss the implications of various amendments and circulars notified time and again, and understand the judicial precedents as decided by various courts and interpret these. Also, we keep you posted with the upcoming tax compliances due date for every month – so that you never miss a due date!

Taxation times April

s.37(1) of the Income Tax Act 1961 ('ITA') is a residual section. The section was introduced with an intent to enable the taxpayers claim expenditure which is not covered under s. 30 to s. 36..

Taxation Times March 22

The Income Tax Act 1961 ('ITA') provides for carry forward & set off of losses incurred in one financial year against the profits of the future years.

Tax updates by UJA December

The Finance Act 2002 inserted the definition of PE under s. 92F(iiia) to include a fixed place of business through which the business of the enterprise is wholly or partly...

Taxation times November 2021

TDS provisions have been prescribed in respect of residents as well as non-residents. Secon 195 of the Income Tax Act provides that any person...

Txation of Non compete fees

A non - compete obligation is generally fulfilled by the payment of a fee or compensation generally called a
non – compete fee.

One year to the faceless assesment regime

The Indian Government has embarked upon it's journey on digitalization of the governance process a long time ago in the year 2006 with the launch of the projects for e-filing of income...

Retrospective tax amendments -indirect tax transfers

The taxability of indirect transfer of Indian Assets through the transfer of shares of a foreign company has been a matter of litigation for the longest time.

What is foreign tax credit and how to claim it

To provide relief to taxpayers and also to ease burden of double taxation, India has signed Double Taxation Avoidance Agreements (DTAA) with several jurisdictions.

Analysis of Section 194Q TDS on purchases

The G7 tax agreement which proposes a 15% global minimum tax rate on mulnaonal companies such as Google, Facebook, Apple & Amazon has been in news since the last few weeks...

Fees for technical Services: A detailed Analysis

Companies which are situated
overseas often render management & consultancy services to Indian companies. These services are essential to boost

Limitations on Interest Payments - India's Thin Capitalization Rules

A company that is financed through a higher amount of debt as compared to equity is referred to as a ‘thinly capitalized’ company.

Will Merger & Acquisitions become tax - expensive?

Depreciation of goodwill has always been a contentious issue between taxpayers and the department. Clause (11) of s. 2 of the Income Tax Act 1961..

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