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Chartered Accountants
Welcome to the Sunil Maloo & Co Blog..
Your one-stop-shop for all things newsworthy! Our team of experts have crafted this blog to provide you with the latest updates, insights, and analysis on the ever-evolving Direct Tax Litigations. From the latest amendments to the most complex regulations, we'll break it all down for you in an easy-to-digest and simplest manner. So, whether you're a business owner, a tax professional or just someone looking to stay informed, our Direct Tax Laws blog is the perfect resource for you. So, grab a notebook and a pen, because you're about to learn something new!
So, sit back, grab a cup of coffee and enjoy the read!"
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A New Light on Black Money Act: Beneficial Owner vs Fiduciary Capacity
The recent ruling by the Income Tax Appellate Tribunal (ITAT) in Jaipur in the case of Krishna Das Agarwal has stirred up a significant...
MALOO sunil
May 16, 20234 min read
ITAT on Applicability of Section 56(2)(viia) in case of Amalgamation
𝐀𝐦𝐚𝐥𝐠𝐚𝐦𝐚𝐭𝐢𝐨𝐧 𝐌𝐞𝐞𝐭𝐬 𝐓𝐚𝐱𝐚𝐭𝐢𝐨𝐧: 𝐀 𝐅𝐫𝐞𝐬𝐡 𝐏𝐞𝐫𝐬𝐩𝐞𝐜𝐭𝐢𝐯𝐞 by 𝐈𝐓𝐀𝐓 𝐨𝐧 𝐒𝐞𝐜𝐭𝐢𝐨𝐧 𝟓6(2)(viia) -...
MALOO sunil
May 3, 20234 min read
Delhi High Court Upholds Tax Residency Certificate in Blackstone Group : A Win for Foreign Investors
The Delhi High Court recently handed down a significant decision regarding the Tax Residency Certificate (TRC) of a Singaporean company...
MALOO sunil
Feb 3, 20231 min read
Budget 2023 : Preventing Double Deduction of Interest Expenses for Capital Assets
The Indian real estate sector has seen an increased interest from investors in recent years, but the Union Budget 2023 has now taken...
MALOO sunil
Feb 1, 20232 min read
Budget 2023: Navigating the Inventory Valuation Reforms - Pros, Cons and Implications
Budget 2023 has proposed significant amendments to the tax provisions related to inventory valuation. The purpose of these amendments is...
MALOO sunil
Feb 1, 20233 min read
Budget 2023 Limits RollOver Benefits under Section 54 and 54F - Provide maximum ceiling of deduction
In recent years, high-net-worth individuals have been taking advantage of the roll over benefits offered by Section 54 and 54F of the...
MALOO sunil
Feb 1, 20231 min read
Budget 2023 : Changes to TCS Rates for Foreign Remittances and Tour Packages: What You Need to know
The Budget 2023 has proposed a significant increase in the Tax Collection at Source (TCS) for certain foreign remittances and sale of...
MALOO sunil
Feb 1, 20232 min read
Budget 2023 Tackles Tax Evasion through Gifts to Not-Ordinarily Resident
The Indian government has made a significant move in Budget 2023 to tackle tax evasion through gifts. Clause (viiii) of sub-section (1)...
MALOO sunil
Feb 1, 20231 min read
Threshold Limits for Presumptive Taxation Schemes on the Rise: A Recap of Budget 2023
The Indian Budget 2023 has proposed several key changes in the presumptive taxation schemes under sections 44AD and 44ADA of the Income...
MALOO sunil
Feb 1, 20232 min read
Budget 2023: Concessional Tax Regime for New Manufacturing Cooperative Societies | Section 115BAE
Introduction: The Indian government has proposed several amendments in the Taxation Laws (Amendment) Act, 2019 to provide a level playing...
MALOO sunil
Feb 1, 20232 min read
Exploring the Benefits of Electronic Gold Receipts: A Guide to the Union Budget 2023 Proposals
The Union Budget 2021 has brought good news for gold investors and traders with the announcement of a new framework for the regulation of...
MALOO sunil
Feb 1, 20232 min read
Budget 2023 | Boosting Start-ups: The New Relaxation for Carrying Forward and Setting Off of Losses
Start-ups, in their early years, face numerous challenges and a lot of uncertainty, with one of them being tax regulations. With the...
MALOO sunil
Feb 1, 20232 min read
Budget 2023 - Encouraging Timely Payments to Micro and Small Enterprises
The Indian government's budget 2023 has a major focus on promoting timely payments to micro and small enterprises. In this regard, the...
MALOO sunil
Feb 1, 20232 min read
Budget 2023 - Income Tax Slab Rates - New Regime
Starting from 2024-25 assessment year, the tax rates specified in section 115BAC(1A) of the Act will apply to determine income tax...
MALOO sunil
Feb 1, 20231 min read
Understanding Section 156A of the Income Tax : How to Modify Demand in Insolvency Resolution Process
I. Introduction A. Explanation of Section 156A of the Income Tax Act: Section 156A of the Income Tax Act was inserted to address the lack...
MALOO sunil
Jan 25, 20234 min read
Section 170A: A Solution to the Challenge of Filing Modified Returns After Business Reorganization
Navigating the Tax Implications of Business Reorganization: A Guide to Section 170A of the Income Tax Act
MALOO sunil
Jan 25, 20234 min read
Understanding the Penalties for False Entries under Section 271AAD of the Indian Income Tax Act
I. Introduction Section 271AAD of the Indian Income Tax Act, 1961 outlines the penalties for false entries or omissions in the books of...
MALOO sunil
Jan 21, 20234 min read
The Implications of Section 79A for Taxpayers: A Closer Look at Set-Off of Losses in Search, Survey
Learn about Section 79A of Indian Income Tax Act & its impact on taxpayers in search & survey operations.
MALOO sunil
Jan 21, 20234 min read
Foreign Exchange Management (Overseas Investment) Regulations, 2022: A guide for Overseas Investment
I. Introduction A. Overview of the Foreign Exchange Management (Overseas Investment) Regulations, 2022 The Reserve Bank of India (RBI)...
MALOO sunil
Jan 20, 20235 min read
Hiring New Employees? Learn How to Claim Tax Deduction under Section 80JJAA
Learn how to claim tax deduction for hiring new employees under Section 80JJAA of the Income Tax Act.
MALOO sunil
Jan 16, 20233 min read
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