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Search results for fmv

In a blow to Man City, Premier League clubs approve changes to sponsorship rules
1 month ago

In a blow to Man City, Premier League clubs approve changes to sponsorship rules

The Hindu  

Premier League clubs approved changes to the league’s Associated Party Transaction rules, the English top-flight competition said on Friday, in a blow to reigning champion Manchester City which did not want the rules to be changed. The Premier League said in a statement that the rule changes addressed findings by an arbitration panel last month following a legal challenge brought …

Loans Changes Premier League Rules Man City Premier Clubs
Delhi High Court Interprets Rule 11UA For Determination FMV Of Shares U/S 56(2)(viib)
8 months, 2 weeks ago

Delhi High Court Interprets Rule 11UA For Determination FMV Of Shares U/S 56(2)(viib)

Live Law  

The Delhi High Court has held that it has interpreted Rule 11UA of the Income Tax Rules, 1962, for determining the fair market value of shares under Section 56 of the Income Tax Act, 1961.The bench of Justice Yashwant Varma and Justice Purushaindra Kumar Kaurav has observed that Section 56 postulates that the FMV of shares shall be the value …

Tax Delhi High Court Income Value Rule Shares Valuation
Direct Tax Cases Weekly Round-Up: 31 March To 6 April 2024
8 months, 2 weeks ago

Direct Tax Cases Weekly Round-Up: 31 March To 6 April 2024

Live Law  

Delhi High Court Case Title: Valley Iron & Steel Co.Ltd Versus PCIT The Delhi High Court has held that income tax additions made towards unsubstantiated share capital are eligible for deduction under Section 80-IC of the Income Tax Act. Case Title: Senapati Santaji Ghorpade Sugar Factory Versus Assistant Commissioner of Income Tax The Bombay High Court has held that retrospective …

Kerala Tax Court Income Tax Title Kerala High Court Income
Delhi High Court Interpretes Rule 11UA For Determination FMV Of Shares U/S 56(2)(viib)
8 months, 2 weeks ago

Delhi High Court Interpretes Rule 11UA For Determination FMV Of Shares U/S 56(2)(viib)

Live Law  

The Delhi High Court has held that it has interpreted Rule 11UA of the Income Tax Rules, 1962, for determining the fair market value of shares under Section 56 of the Income Tax Act, 1961.The bench of Justice Yashwant Varma and Justice Purushaindra Kumar Kaurav has observed that Section 56 postulates that the FMV of shares shall be the value …

Tax Income Value Rule Shares Valuation Inr
Premium Charged On Issue Of Shares To Existing Shareholder Is Not Deemed Income U/s 56(2)(Viib) If No Income Accrues To Ultimate Beneficiary: Delhi ITAT
9 months ago

Premium Charged On Issue Of Shares To Existing Shareholder Is Not Deemed Income U/s 56(2)(Viib) If No Income Accrues To Ultimate Beneficiary: Delhi ITAT

Live Law  

Recently, the Delhi ITAT reiterated that object of deeming an unjustified premium charged on issue of share as taxable income u/s 56 of the Income tax Act is wholly inapplicable for transactions between holding and its subsidiary company where no income can be said to accrue to the ultimate beneficiary, i.e., holding company. The AO disputed the amount of share …

Income Company Premium Share Sec Bench Shares
AO Fails To Examine Relevant Material For Determining FMV Of Interest Rate For Availing Unsecured Loans: Mumbai ITAT Remits Matter
9 months, 1 week ago

AO Fails To Examine Relevant Material For Determining FMV Of Interest Rate For Availing Unsecured Loans: Mumbai ITAT Remits Matter

Live Law  

Observing that the relevant material for determining the fair market value of the interest rate for availing unsecured loans has not been examined, the Mumbai ITAT restored the issue of disallowance of excessive interest payment on unsecured loans to the file of AO for de novo adjudication. The AO however held that the average bank rates are 12% and therefore, …

Loans Rate Bench Interest Rate Itat Related Assessee
AO Must Follow Mandate Of Sec 50C If Values Adopted By Stamp Value Authorities Exceeds FMV Of Property: Mumbai ITAT
9 months, 1 week ago

AO Must Follow Mandate Of Sec 50C If Values Adopted By Stamp Value Authorities Exceeds FMV Of Property: Mumbai ITAT

Live Law  

On finding that AO has not computed capital gains by adopting the stamp duty value, the Mumbai ITAT restored the matter back to the file of the AO to follow the mandate of provision u/s 50 of the Income Tax Act, 1961, and decide the issue afresh after giving the assessee an adequate opportunity of hearing. The Bench of the …

Duty Value Sec Rates Bench Stamp Provision
Fujitsu FMV UH-X 14-inch Laptop Review: Top-notch performance in a featherlight package
1 year, 3 months ago

Fujitsu FMV UH-X 14-inch Laptop Review: Top-notch performance in a featherlight package

Firstpost  

Thin and light laptops often sacrifice performance and hardcore specs for mobility, especially if they are priced under Rs 1 Lakh. The Fujitsu FMV UH-X 14-inch laptop however, is not only one of the lightest laptops out there, but also one of the peppiest performers Pros: - Featherlight weight - Performance given the weight - Responsive touch capabilities - Solid …

Performance Display Battery Life Laptops Laptop This Laptop Core
Norms for TDS on business perquisites/benefits: A mix of clarity, uncertainty
2 years, 6 months ago

Norms for TDS on business perquisites/benefits: A mix of clarity, uncertainty

Live Mint  

This year’s Union budget proposed a new TDS, or tax deducted at source, obligation through section 194R of the Income-tax Act 1961, with effect from 1 July. The Central Board of Direct Taxes recently issued guidelines aiming to clear doubts regarding the implementation of Section 194R but it has raised other questions. The CBDT’s view is that the proviso indicates …

Tax Guidelines Provider Tds Monetary Benefits Cbdt Recipient
Deciphering The Effect Of New Valuation Rules On Slump Sale
3 years, 6 months ago

Deciphering The Effect Of New Valuation Rules On Slump Sale

Live Law  

The provision for computing capital gains in slump sale transactions is included in Section 50B of the Income-tax Act of 1961. At the time of enactment, the Finance Act of 2021 made an amendment to the above provision, and the amended section 50B now states that the Fair Market Value of capital assets as of the date of transfer shall …

Market Sale Assets Capital Value Fair Received
There’s no clarity on split shares’ taxation
4 years, 4 months ago

There’s no clarity on split shares’ taxation

Live Mint  

The frequently asked questions released by the tax department on taxation of long-term capital gains under Section 112A didn’t cover the issue of split stocks. By that metric, even split shares are eligible for full FMV as on 31 January 2018. The FMV of HDFC Bank shares as on 31 January 2018 on BSE and NSE was ₹2,095.00 and ₹2,013.50, …

2018 Ltcg Fmv 31 January Shares Split On 31 January