Income Tax

the-direct-tax-dispute-resolution-scheme-2016

Income Tax November 2, 2016

The Direct Tax Dispute Resolution Scheme 2016

The Direct Tax Dispute Resolution Scheme 2016 Chapter X of Finance Act 2016   Purpose:Settle pending appeals/ disputes faster and economical for assessees Act means Income Tax Act or Wealth Tax Act Eligible Person:Any assessee/declarant making a declaration u/s 203 of the Finance Act 2016, to a notified officer not below the rank of CIT. […]

taxation-of-alternate-investment-funds-aif

Income Tax November 2, 2016

Taxation of Alternate Investment Funds (AIF)

Chapter XIIFB- Sec 115UB Taxation of Income Nature of Income Taxable Entity/Person Rate of tax Investment income Investor – fund enjoys pass through status Investment income is exempt for a fund u/s 10(23FBA) As applicable for the investor Business income Investment fund If fund is a company or firm – rates as per Finance Act […]