#section44D #incometax #specialprovision #foreigncompany #royalty #fees #technicalservices Section 44D of the Income Tax Act, 1961 provides for pecial provisions for computing income by way of royalties, etc., in the case of foreign companies. As per this section regardless of anything to the contrary in sections 28 to 44C, when an assessee is a foreign company, the deductions allowed under these sections in calculating income received in the form of royalties or fees for tec

#specialprovision #fullvalue #consideration #transfer #share The section states that: Where the consideration received or accruing as a result of the transfer by an assessee of a capital asset, being share of a company other than a quoted share, is less than the fair market value of such share determined in such manner as may be prescribed, the value so determined shall, for the purposes of section 48, be deemed to be the full value of consideration received or accruing as a

#specialprovision #fullvalue #consideration #certaincases The section states that: (1) Where the consideration received or accruing as a result of the transfer by an assessee of a capital asset, being land or building or both, is less than the value adopted or assessed or assessable by any authority of a State Government (hereafter in this section referred to as the "stamp valuation authority") for the purpose of payment of stamp duty in respect of such transfer, the value so

#specialprovision #computation #capitalgains #slumpsale The section states that: (1) Any profits or gains arising from the slump sale effected in the previous year shall be chargeable to income-tax as capital gains arising from the transfer of long-term capital assets and shall be deemed to be the income of the previous year in which the transfer took place : Provided that any profits or gains arising from the transfer under the slump sale of any capital asset being one or mo

#section44BBB #incometax #specialprovision #foreigncompanies #turnkeypowerprojects Section 44BBB of the Income Tax Act, 1961 deals with a special provision for computing profits and gains of foreign companies engaged in the business of civil construction, etc., in certain turnkey power projects. This provision applies to foreign companies, i.e., non-residents who are engaged in any of the following businesses: Civil construction Erection of plant or machinery Testing or commi

#specialprovision #cost #acquisition #depreciableasset The section states that: Where the capital asset is an asset in respect of which a deduction on account of depreciation under clause (i) of sub-section (1) of section 32 has been obtained by the assessee in any previous year, the provisions of sections 48 and 49 shall apply subject to the modification that the written down value, as defined in clause (6) of section 43, of the asset, as adjusted, shall be taken as the cost

#specialprovision #computation #capitalgains #depreciableassets The section states that: Notwithstanding anything contained in clause (42A) of section 2, where the capital asset is an asset forming part of a block of assets in respect of which depreciation has been allowed under this Act or under the Indian Income-tax Act, 1922 (11 of 1922), the provisions of sections 48 and 49 shall be subject to the following modifications :— (1) where the full value of the consideration r

#specialprovision #arrears #rentreceived #coowners #houseproperty Special provision for arrears of rent received and Property owned by co-owners are defined under section 25B and 26 of Income Tax Act 1961. The section states that: Where the assessee- (a) is the owner of any property consisting of any buildings or lands appurtenant thereto which has been let to a tenant; and (b) has received any amount, by way of arrears of rent from such property, not charged to income-tax fo

#specialprovision #unrealisedrent #chargeable Special provision for cases where unrealised rent allowed as deduction is realised subsequently and Unrealised rent received subsequently to be charged to income-tax are defined under section 25A and 25AA of Income Tax Act 1961. The section states that: Where the assessee cannot realise rent from a property let to a tenant and subsequently the assessee has realised any amount in respect of such rent, the amount so realised shall b