Latest Expert Exchange Queries

GST Demo Service software link: https://ims.go2customer.com
Username: demouser Password: demopass
Get your inventory and invoicing software GST Ready from Binarysoft info@binarysoft.com
sitemapHome | Registration | Job Portal for CA's | Expert Exchange | Currency Converter | Post Matrimonial Ads | Post Property Ads
 
 
News shortcuts: From the Courts | News Headlines | VAT (Value Added Tax) | Placements & Empanelment | Various Acts & Rules | Latest Circulars | New Forms | Forex | Auditing | Direct Tax | Customs and Excise | ICAI | Corporate Law | Markets | Students | General | Mergers and Acquisitions | Continuing Prof. Edu. | Budget Extravaganza | Transfer Pricing | GST - Goods and Services Tax
 
 
 
 
Popular Search: VAT Audit :: due date for vat payment :: form 3cd :: ARTICLES ON INPUT TAX CREDIT IN VAT :: articles on VAT and GST in India :: list of goods taxed at 4% :: VAT RATES :: TDS :: ACCOUNTING STANDARDS :: TAX RATES - GOODS TAXABLE @ 4% :: Central Excise rule to resale the machines to a new company :: ACCOUNTING STANDARD :: cpt :: empanelment :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes
 
 
« General »
 The differences between tax and cess
 Startups that raised funds from angel investors face tax scrutiny
 Tax collection assumptions in India's budget ambitious
 All scrutiny cases, sans search, to be e-assessed
 Key tax changes that will come into effect from April 1
 Eight lakh companies on Income Tax department radar for not filing tax returns
 4 things a taxpayer shouldn’t miss
 Impact on LTCG will be more than 10 per cent
 Here's how much the tax reliefs you want will cost the finance minister
 Companies (Appointment and Qualification of Directors) Amendment Rules, 2018
 How young earners can claim HRA tax exemption with ease

KBC money: I-T dept takes Big B to SC
March, 26th 2009

In what may strain the already troubled relations between the Samajwadi Party and the Congress, the Income Tax (I-T) department on Wednesday moved the Supreme Court challenging a seven-month-old order of the Bombay high court, which gave relief to superstar Amitabh Bachchan in a case related to Kaun Banega Crorepati.

The move to appeal against the old order, given the closeness of the Bachchan family to SP leaders Mulayam Singh Yadav and Amar Singh, may have its political fallout.

The I-T department assailed the HC order saying Bachchan could not have claimed benefit under Section 80RR of the Income Tax Act which provides 30% tax relief on income of artistes from outside India.

Bachchan had contended that as per Section 80RR, 30% of the earnings that accrued to him were not taxable since he was an artist and the remaining 70%, which went to the account of Amitabh Bachchan Corporation Ltd (ABCL), could be taxed.

However, the I-T department was of the view that Bachchan was an anchor and not an artist in the popular television show. Moreover, the income to be categorised under Section 80RR must have either come from abroad or the artist must have performed outside India.

According to the I-T department, the entire show was shot in a Mumbai studio provided by Star India Pvt Ltd and, hence, no tax relief should be granted. The dispute over taxation is on a total earning of Rs 13 crore which Bachchan earned from the mega show.

Bachchan's spouse, Jaya, is a SP member of Rajya Sabha. SP leaders have in the past linked the actor's troubles with the taxman to their opposition to Congress.

In the earlier round of litigation, the Income Tax Appellate Tribunal had asked the department to reconsider the assessment. Later, the Bombay high court upheld Bachchan's contention and dismissed the IT department's plea.

 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2018 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Binarysoft Technologies - About Us

Transfer Pricing | International Taxation | Business Consulting | Corporate Compliance and Consulting | Assurance and Risk Advisory | Indirect Taxes | Direct Taxes | Transaction Advisory | Regular Compliance and Reporting | Tax Assessments | International Taxation Advisory | Capital Structuring | Withholding tax advisory | Expatriate Tax Reporting | Litigation | Badges | Club Badges | Seals | Military Insignias | Emblems | Family Crest | Software Development India | Software Development Company | SEO Company | Web Application Development | MLM Software | MLM Solutions