In this edition, we bring to you certain important articles on various aspects.
The article on ‘Immovable Properties vis-à-vis FEMA Regulations’ is a need of hour where many were being questioned by Enforcement Directorate regarding the purchase of immovable properties in the name of non-resident by residents. This article will help the reader to understand who is eligible to purchase or inherit the immovable properties in India.
The next article is ‘A Complete Analysis of Section 2(22)(e)’ under the income tax laws. This is one of the sections which was there right from 1922 Act to current Act. The definition of ‘dividend’ has undergone various changes accommodating the dubious methods adopted by tax payers to see that dividend distribution tax not being paid. This being an anti-avoidance provision, tax payers have to strictly comply with the same. However, in this article, we tried to argue certain issues which are genuine and which in our firm’s view would fall out of the phrase ‘dividend’. This is purely academical and readers should take their view independently.
Another article is on ‘Intermediary v Marketing Support Services’ under the GST laws which tries to explain the thin line of difference between both the services. The Authority for Advance Rulings have often confused with distinction among the said services, which lead to confusion. The article attempts to list out all prominent judgments dealing with said issue and draw up a conclusion as to the distinction.
We have also authored one more article on ‘Sale of Multiple Units – Rollover – Section 54’, wherein we have analysed the recent Honourable Mumbai ITAT judgement. The ITAT is kind enough to accept the proposition that gains arising from sale of multiple flats and investing in single flat is not restricted under Section 54 of Income Tax Act. This re-emphasises the consistent view taken by Tribunals and other forums that the provisions of Section 54 are beneficial and does not call for strict interpretation.
I hope that you will have good time reading this edition and please do share your feedback. I will also urge clients to mail us topics or issues on which you want us to deliberate in our future editions, so that we can contribute to the same.
Key Topics:
INCOME TAX
FEMA
GST
