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Journal articles on the topic 'Income Tax Act 1961'

Author: Grafiati

Published: 5 June 2025

Last updated: 2 August 2025

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1

Radadiya, Sanjay K. "Income Tax Act 1961 V/S Direct Tax Code 2009." Indian Journal of Applied Research 2, no. 2 (2011): 16–18. http://dx.doi.org/10.15373/2249555x/nov2012/6.

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2

Dr., Deepak Ashok Nikam. "A Study of knowledge of Income Tax Act 1961 amongst the people of Maharashtra State." International Journal of Advance and Applied Research S6, no. 12B (2025): 132–34. https://doi.org/10.5281/zenodo.14909873.

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<em>In India first time Sir James Wilson was introduced Tax in the year 1860 where decided to impose it to meet the amount of losses sustained by the government due to Sepoy Mutiny, 1857. After some years, in 1918 a new income tax Act was introduced but it was replaced by another new Act which was passed in 1922. This is the long term Act remained in force to the year 1961-62. On the recommendations of Prof. Nicholas Kaldor, the Wealth Tax Act, 1957, the Expenditure Tax Act, 1957 and Gift Tax Act, 1958 were introduced. In the year 1958, a report on new Income Tax Act was submitted by the Law C

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3

Mittal, Naveen. "INTEREST INCOME AND INTERNATIONAL TAXATION: PERSPECTIVES FROM INDIA'S JUDICIAL SYSTEM." INTERNATIONAL JOURNAL OF ADVANCED RESEARCH IN COMMERCE, MANAGEMENT & SOCIAL SCIENCE 08, no. 01(I) (2025): 89–94. https://doi.org/10.62823/ijarcmss/8.1(i).7174.

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Taxation of interest income by a resident of one country from investments in India requires the application of Article 11 of the Organisation for Economic Co-operation and Development Model Convention (OECD MC) 2017 as well as the United Nations Model Convention (UN MC) 2021 and the domestic provisions of the Income-tax Act, 1961, India. This article looks at the Indian judicial system's view of Article 11 of the OECD MC and the UN MC. It concludes that the Indian judicial system has sided with the assessees by giving them the benefit under sub-section (2) of Section 90 of the Income-tax Act,

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4

Harish, H. N. "India's Tax Structure Starts Afresh." International Journal of Advance and Applied Research 4, no. 23 (2023): 157–60. https://doi.org/10.5281/zenodo.8159269.

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Direct Tax Code (DTC) could replace India's Income Tax Act 1961 "If existing laws are to be replaced by a new law, the change must be radical and revolutionary," Union Finance Minister Pranab Mukherjee said when submitting the draft all taxpayers tax code. If passed, it will become the new Income Tax Act, replacing the six-decade-old Information Technology Act of 1961. The new IT law came into force on April 1, 2011, but has not been implemented. The goal of DTC is to eliminate distortions in the tax structure, introduce moderate tax rates, broaden the tax base, improve tax compl

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Das, Pradip Kumar. "Taxability of Agricultural Income in India: A Study." British Journal of Multidisciplinary and Advanced Studies 5, no. 2 (2024): 13–26. http://dx.doi.org/10.37745/bjmas.2022.0458.

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Tax contributes substantial amount of revenue to the Government. Income Tax Act,1961 exempts agricultural income from taxation. The Act benefits the rural agriculturalists with exiguous income, but large scale farmers and agricultural companies essentially manipulate it and, thus, violate the motive of the clause. While the economists and Government-appointed committees firmly contend for levy of taxes on agricultural income in India on equity and efficacy cogitations, many others withstand cold-bloodedly. There appears monophonic dun to empower the Central Government to levy taxes precisely o

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Prof., C. S. Karishma Shashikant Shah. "CORPORATE SOCIAL RESPONSIBILITY – AN INVESTMENT FOR A SOUL." International Journal of Human Resource & Industrial Research 3, no. 6 (2016): 13–22. https://doi.org/10.5281/zenodo.10700324.

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<strong>Objective</strong>- Corporate Social Responsibility (CSR) is basically a concept whereby companies decide voluntarily to contribute to a better society and a cleaner environment. It is represented by the contributions undertaken by companies to the society through its business activities and its social investment. The objective of this research paper is to study the regulatory framework of CSR activities in India applicable on corporates with reference to the Companies Act, 2013 as well as an analysis on the tax implications under the Income Tax Act, 1961. The secondary objective of th

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Prof., (Dr.) Mridula Singhal &. Ankit Verma. "PROFILING TAXATION LITERACY OF SALARIED INDIVIDUALS IN SELECT REGION OF DELHI: AN EMPIRICAL STUDY." Scholarly Research Journal for Interdisciplinary studies 13, no. 86 (2025): 172–80. https://doi.org/10.5281/zenodo.14794103.

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<em>Taxation literacy means the level of awareness among the people about the Income Tax Act, 1961, and various laws related to them i.e., Payment of Gratuity Act, 1972, etc. In other terms knowledge of technical jargon used under the Income Tax Act, 1961, and awareness of various kinds of deductions, and exemptions available under the Select Act. Tax planning and management are also to be considered under taxation literacy. The main objective of this study is to determine people's knowledge regarding taxation laws. For this purpose, respondents are to be taken from select regions of Delhi i.e

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8

Upadhayay, Mukesh R. "Principles of Progressive Taxation and Salaried Employees Under Indian Income Tax Act, 1961." International Journal of Scientific Research 2, no. 7 (2012): 458–59. http://dx.doi.org/10.15373/22778179/july2013/156.

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9

Dalmia, Sparsh. "A Comparative Study of India’s New Tax Regime Using Real-Life Salary Scenarios." International Scientific Journal of Engineering and Management 04, no. 06 (2025): 1–9. https://doi.org/10.55041/isjem04240.

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Abstract Indian's dual tax regime for income, brought in Section 115BAC of the Income Tax Act, 1961, provides a choice between the conventional deduction regime and a simplified no-exemption regime with lower slab rates. This study examines the relative cost to finances of the two regimes across three income levels—₹5 lakh, ₹10 lakh, and ₹20 lakh per annum—covering low, middle, and high-income salaried taxpayers. Applying uniform assumptions and simulation-based tax calculations, the study compares which regime produces lower tax payments and under what circumstances. The findings indicate tha

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KRISHNA, MOHAN VADDADI, and NIMMAGADDA SRINIVAS. "ADOPTING COST INFLATION INDEX IN SELECT PROVISIONS OF INCOME TAX ACT: A STUDY ON OPINION OF TAX PAYERS." Jilin Daxue Xuebao (Gongxueban)/Journal of Jilin University (Engineering and Technology Edition) 42, no. 09 (2023): 26–38. https://doi.org/10.5281/zenodo.8347738.

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  <strong>Abstract</strong> Government provided some tax benefits in the form of tax exemptions and deductions under the Income Tax Act, 1961 which are being increased now at the discretion of the Government. The aim of this research paper is to determine whether there is a need to apply cost inflation index or any other method in increasing some popular tax exemptions and deductions – standard deduction on salary income, exemption given to retirement benefits like encashment of leave salary and VRS compensation and tax benefits on savings and medical insurance premium paid. Primary

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11

Bhattacharya, Ayesha. "Externalizing Indian Startups: Exploring the Flip Side." Business Law Review 42, Issue 5 (2021): 231–39. http://dx.doi.org/10.54648/bula2021033.

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The practice of externalization, whereby an Indian company houses its shareholding, intellectual property and other assets in an overseas firm, thereby relegating the local enterprise to a subsidiary, has gained traction over the last decade. Its increasing popularity, particularly amongst startup companies, is attributable to the desire to adopt growth-enabling strategies, access to foreign funding, fewer regulatory requirements and a better tax regime. This article explores the concerns faced by founders of an Indian startup company and considers the viability of flipping the corporate struc

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12

Fleming, J. Clifton. "Tax In History: Acknowledging (Celebrating? Regretting?) Sixty Years of Subpart F." Intertax 51, Issue 6/7 (2023): 519–23. http://dx.doi.org/10.54648/taxi2023042.

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Deferral of home-country tax on the income of foreign subsidiary corporations produces the twin evils of business and investment location distortion and profit shifting. In 1961, the Kennedy administration proposed the almost complete elimination of this type of deferral from the US income tax system. Because of strong opposition lobbying, the result was a political compromise commonly known as Subpart F. This article explains why Subpart F was largely a failure, in spite of its being copied to various degrees by the controlled foreign corporation (CFC) regimes of many developed countries. The

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Trumboo, Naveed. "Agricultural Income Tax in India: Introducing Threshold-Based Tax Exemption." Indian Journal of Public Administration 68, no. 1 (2022): 21–33. http://dx.doi.org/10.1177/00195561211058451.

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Agricultural income earned by a person in India is exempted from taxation as far as the Income Tax Act, 1961 is concerned. This article explores the case for introducing threshold-based Agricultural Income Tax (AIT) exemption in India. The article examines this proposal using the existing literature and body of work available on the subject. The study comes to the conclusion that the existing blanket exemption on agricultural income is undesirable from the perspective of fiscal policy and principle of equity. It is suggested that a reasonable monetary threshold should be defined above which ag

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Hedau, Amit. "TAXATION OF FAMILY INCOME UNDER INDIAN TAXATION LAWS A NEW PERSPECTIVE." International Journal of Advanced Research 8, no. 12 (2020): 975–78. http://dx.doi.org/10.21474/ijar01/12244.

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Since the monarchy pattern of ruling the state to the republic era, one aspect is common i.e taxation. The revenue required for funding the public services and maintaining law and order, various types of taxes are imposed on citizens and organisations by the competent authority. In India, the taxation of income is the exclusive power of Central Government and The Income Tax Act 1961 is the governing Act for the taxation matter. The present paper is conceptual in nature. The author wants to propose a new scheme of taxation of family income. As per the authors proposal the combine income of the

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Prof., Siddhaarth R. Dhongde, and Vilas Epper Dr. "Tax Saving Investment Strategies among Salaried Individuals in Aurangabad City." International Journal of Management and Humanities (IJMH) 4, no. 10 (2020): 113–18. https://doi.org/10.35940/ijmh.J0984.0641020.

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“This is too difficult for a mathematician. It takes a philosopher. The hardest thing in the world to understand is the income tax.” –Albert Einstein Tax Management. Tax Management is an activity conducted by the tax payer to reduce the tax liability and maximize the use of all available deductions, allowances, exclusions, as per income tax act 1961. It is a techniques to prepare strategy of financial planning for longer term goal. In this paper analyzing investment products for tax saving purpose. The objective behind this research paper is to understand tax saving investmen

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Bharad, Bhavesh, and Komal Sharma. "LEGAL PERSPECTIVE & INDIVIDUAL TAXPAYERS’ PERCEPTION OF NEW V/S OLD TAX REGIME UNDER INCOME TAX ACT,1961, IN AHMEDABAD CITY." International Journal of Management, Public Policy and Research 3, no. 4 (2024): 67–87. https://doi.org/10.55829/ijmpr.v3i4.265.

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This research investigates the legal perspectives and individual taxpayers' perceptions of the new and old tax regimes under the Income Tax Act, 1961 in Ahmedabad City. Through a structured survey conducted among 118 respondents, the study aims to compare the legal frameworks of both regimes, assess taxpayer perceptions regarding their benefits and challenges, analyse the impact of these regimes on taxpayer behaviour concerning savings and investments, and identify demographic factors influencing taxpayer preferences. The findings reveal significant insights into taxpayer awareness and prefere

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Sharma, Ajay Kr. "International Tax Avoidance Issues: An Analysis of the Indian Law and Policy." Intertax 42, Issue 12 (2014): 807–28. http://dx.doi.org/10.54648/taxi2014073.

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The uncertainty and inconsonance in the international tax regime in India is adversely affecting the foreign investors. The author elaborates on the concept of tax avoidance, its significance in international taxation, and discusses certain anti-tax avoidance strategies. The article also discusses the significance of DTAAs. Next, analysis of judicial appreciation and response by the Supreme Court of India on the tax avoidance issue is done by a critique of some of its landmark decisions. This article also discusses use or abuse by India of retrospective (so-called, clarificatory) tax law amend

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18

Sturdy, Joline, and Christo Cronjé. "An analysis of the tax implications of prospecting expenditure incurred by junior exploration companies in South Africa." Journal of Economic and Financial Sciences 6, no. 2 (2013): 329–46. http://dx.doi.org/10.4102/jef.v6i2.263.

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One of the consequences of the change in the mineral policy of South Africa with the promulgation of the Mineral and Petroleum Resources Development Act 28 of 2002 was the increase in junior exploration companies. Junior exploration companies are mainly involved in prospecting activities. No definition exists for either prospecting or exploration in the Income Tax Act 58 of 1962 (Income Tax Act). The lack of research and case law on the tax treatment of prospecting expenditure by junior exploration companies may result in various interpretations for the treatment of prospecting expenditure. Th

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19

Makhaya, Siphamandla, and Lizanne Barnard. "Income tax implications from the transfer of soccer players in South Africa." Journal of Economic and Financial Sciences 10, no. 1 (2017): 125–44. http://dx.doi.org/10.4102/jef.v10i1.9.

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Sports clubs often trade players with each other through the player transfer system. Using the doctrinal research methodology, which involves an extended review of literature, the study aims at providing an interpretative analysis of the income tax implications from the transfer of professional soccer players between professional soccer clubs, based on the Income Tax Act 58 of 1962 (South Africa, 1962) (hereafter the Act) and the relevant case law. This study further provides hypothetical case studies that provide different scenarios of soccer player transfers and the analysis of the income ta

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20

Singh, Prakriti. "Allowability of Contribution from the CSR Funds as Deduction Under Section 80G of the Income Tax Act 1961: A Jurisprudential Critique." VISION: Journal of Indian Taxation 9, no. 1 (2022): 66–75. http://dx.doi.org/10.17492/jpi.vision.v9i1.912205.

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The deductibility of payments out of the CSR funds as a donation under the Indian tax law severely undermines the legislative intent of addressing the menace of tax subsidization of corporate CSR burden through the 2014 amendment, even though there is some judicial support for its deductibility. This article argues against its deductibility from two perspectives: firstly, from the point of view of the meaning and context of donation in Indian tax law and the tests laid down by the Indian Supreme Court in this regard; and secondly in terms of it being a colourable attempt at tax subsidizing.

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21

Mohanasundari, M., S. C. Vetrivel, and R. E. Lavanya. "Risk and Return Analysis in Selected Equity Linked Savings Scheme in India: A Bibliographic Review." Asian Journal of Managerial Science 5, no. 1 (2016): 1–6. http://dx.doi.org/10.51983/ajms-2016.5.1.1202.

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The paper analyse the various tax savings mutual fund investment avenues available to investors. Equity Mutual Funds are one of the important means of pooling risk capital from small investors. ELSS funds are open-ended, diversified equity schemes offered by mutual funds in India. They offer tax benefits under the Section 80C of Income Tax Act 1961. Like all investment, they also carry certain risks. In this paper an attempt has been made to analyse bibliographic review of the risk and return of various mutual fund schemes. For this purpose, performance measures suggested by Sharpe, Treynor an

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22

Suvagiya, CA Atul P. "Analysis of Newly Introduced TCS Provisions U/S 206(1h) of the Income Tax Act, 1961." Management Accountant Journal 55, no. 11 (2020): 73. http://dx.doi.org/10.33516/maj.v55i11.73-75p.

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23

Rai, Pooja Yashwanth, and Dr Arvind Saxena. "A Review of Direct Taxation in India: Evolution, Challenges, and Reform Initiatives." INTERANTIONAL JOURNAL OF SCIENTIFIC RESEARCH IN ENGINEERING AND MANAGEMENT 08, no. 04 (2024): 1–8. https://doi.org/10.55041/ijsrem29162.

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India's direct tax regime has been a critical pillar in the country’s fiscal architecture, playing a central role in revenue mobilization, economic regulation, and social equity. Since independence, the structure and administration of direct taxes—including income tax, corporate tax, and capital gains tax—have undergone extensive reforms to align with changing macroeconomic conditions and global best practices. This review paper presents a detailed analysis of the evolution, challenges, and reform initiatives in India's direct taxation framework. Beginning with the pre-independence rudimentary

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Oosthuizen, Rudi. "A Framework For The Income Tax Deductibility Of Intellectual Property Expenditure Incurred By South African Taxpayers." International Business & Economics Research Journal (IBER) 12, no. 3 (2013): 373. http://dx.doi.org/10.19030/iber.v12i3.7680.

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Taxpayers who use intellectual property (such as patents and trademarks) in their trade in the production of income may obtain the right of such use in a number of different ways. The nature of the transaction granting the taxpayer the use of intellectual property items determines the tax treatment thereof. Taxpayers may be able to claim deductions for the cost of using these items in terms of specific income tax sections or the general deduction formula as outlined by the Income Tax Act 58 of 1962. There are also a number of other sections in the Act which may affect the timing and extent of

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Kumar, Nishant. "Comprehensive Financial Planning and Tax-Saving Techniques for Salaried Employees." INTERANTIONAL JOURNAL OF SCIENTIFIC RESEARCH IN ENGINEERING AND MANAGEMENT 09, no. 03 (2025): 1–9. https://doi.org/10.55041/ijsrem42748.

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Savings play a crucial role in the economy of any nation. Investing those savings in appropriate financial instruments ensures capital appreciation and financial security. An investment refers to the allocation of resources in anticipation of future returns. Individuals today have a vast spectrum of investment options, though awareness about newer investment avenues such as virtual real estate and hedge funds remains limited. Many salaried individuals prefer traditional investment tools like fixed deposits, mutual funds, and stock markets but often perceive them as high-risk ventures. This stu

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Jaiswal, Anindita. "Taxation of Foreign Institutional Investors in India: The Hanging Fire." Intertax 41, Issue 5 (2013): 319–30. http://dx.doi.org/10.54648/taxi2013028.

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Foreign Institutional Investors (FIIs) have always remained influential players in India's investment market. However, India's tax regime in respect of FIIs has constantly undergone turbulent phases. To start with, the controversy pertained to classification of FII income under the income heads of business income versus capital gains, which classification was critical considering its tax chargeability and tax rate implications under India's direct tax laws. While this debate appears to have been put at rest by the 2008 ruling in LG Asian Plus Ltd. v. ACIT, uncertainties for FIIs in the context

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Grigoryev, Pavel A. "The Economic Crime Concept and System under the Criminal Law of India." Public International and Private International Law 1 (February 29, 2024): 36–40. http://dx.doi.org/10.18572/1812-3910-2024-1-36-40.

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The article deals with the institution of criminal offenses under the criminal law of India. The main approaches to the concept of the economic offence within the framework of Indian legal studies were studied. A theoretical analysis of the definitions of the term “economic crime/offence” and the study of the connection of the term with the criminological term “white-collar crime” were carried out. Based on the results of the analysis, a description of the system of economic crimes in accordance with the Indian criminal law was given. It was found out that at the present time the Indian legisl

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Van Schalkwyk, Linda, and Rozelle Van Schaik. "A critical analysis of the concepts ‘Permanent Establishment’ and ‘Foreign Business Establishment’." Journal of Economic and Financial Sciences 5, no. 1 (2012): 63–82. http://dx.doi.org/10.4102/jef.v5i1.306.

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The objective of this study was to analyse and compare the concepts permanent establishment and foreign business establishment in order to make recommendations regarding the required additions and amendments to replace the concept foreign business establishment with the internationally recognised and accepted concept permanent establishment. The proposed replacement of the concept foreign business establishment with an internationally recognised and accepted tax concept will enhance the international compatibility of the Income Tax Act 58 of 1962. The use of an internationally recognised and a

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Van Schalkwyk, Linda, and Rudie Nel. "Non-executive directors: Employees or independent contractors for both income tax and employees’ tax purposes?" Journal of Economic and Financial Sciences 6, no. 2 (2013): 401–20. http://dx.doi.org/10.4102/jef.v6i2.267.

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The concept ‘independent contractor’ is one of the more contentious concepts contained in the Fourth Schedule to the Income Tax Act 58 of 1962, as amended. The classification of a person rendering services as either an ‘employee’ or an ‘independent contractor’ is relevant for both income tax and employees’ tax purposes. The objective of this article is to determine whether non-executive directors (both resident and non-resident) are employees or independent contractors for both purposes, respectively. A comprehensive literature review was done in which the meaning of the concepts ‘non-executiv

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Legwaila, Thabo. "The trade requirement is obsolete for tax purposes." South African Law Journal 142, no. 1 (2025): 99–128. https://doi.org/10.47348/salj/v142/i1a7.

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The Income Tax Act 59 of 1962 requires that a taxpayer should be carrying on a trade to be able to deduct expenses in terms of the general deductions formula, to deduct interest in terms of the specific provisions applicable to interest, or to set off assessed losses. The meaning of ‘trade’ has been the subject of many court cases. These cases have assigned varied and divergent meanings to the term ‘trade’. The result has been that it has become a complex term that complicates the deductibility rules without adding much value to the rules. This article considers this trade requirement’s contin

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Straus, Carien, and Leonard Willemse. "A critical investigation of the interaction between sections 8(4)(a), 9H and paragraph 40 of the eighth schedule of the income tax act No. 58 of 1962 versus the current practice of The South African Revenue Service." Journal of Economic and Financial Sciences 7, no. 3 (2014): 889–906. http://dx.doi.org/10.4102/jef.v7i3.242.

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Section 9H and paragraph 40 of the Eighth Schedule of the Income Tax Act No. 58 of 1962 (‘the Act’) determines that a person is deemed to dispose of all of his assets (bar a few exceptions) at market value when that person ceases to be a South African resident or passes away, respectively. This deemed disposal is treated as a disposal event for capital gains tax purposes in terms of the Eighth Schedule of the Act. The question that arises is whether this deemed disposal event gives rise to a recoupment in terms of section 8(4)(a). In practice there currently seems to be uncertainty with regard

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V, Dr Savitha. "A Study on Investors Awareness on ELSS Tax Saving Schemes." International Journal for Research in Applied Science and Engineering Technology 11, no. 6 (2023): 1432–36. http://dx.doi.org/10.22214/ijraset.2023.53918.

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Abstract: Investor’s awareness is a term used in investor relation, by public companies and similar bodies, to describe how well their investors and the investment market in general, know their business. Equity-linked saving scheme is an open-ended equity diversified fund, which provides a tax benefit to investors under section 80 C of the Income Tax Act, 1961. ELSS funds invest in equity and market capitalization across different sectors to achieve attractive returns. Being an equity fund, returns are dependent on the price movements of the stocks invested in and the market as a whole. ELSS f

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Brink, Sophia. "An evaluation of the income tax treatment of client loyalty programme transactions by South African suppliers." Journal of Economic and Financial Sciences 8, no. 1 (2015): 145–64. http://dx.doi.org/10.4102/jef.v8i1.88.

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The popularity of client loyalty programmes has increased drastically over the past few years, with more than 100 suppliers in South Africa currently making use of them. Despite the fact that client loyalty programmes have been prevalent in South Africa since the 1980s, the South African Revenue Service has issued no specific guidance on the income tax treatment of client loyalty programme transactions. The main objective of the research was to determine whether South African client loyalty programme suppliers treat client loyalty programme transactions correctly for income tax purposes. In or

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Paul, Arun, and N. Ramalingam. "Should digital taxation be in sync with the OECD-G20 Two-Pillar Framework? An Analysis of the Equalization Levy in India and Its Aftermath." Gyan Management Journal 18, no. 1 (2023): 7–20. http://dx.doi.org/10.48165/gmj.2023.18.1.2.

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The flourishing growth of the digital economy in India has made digital taxation an indispensable system in India’s revenue generation. The study provides a detailed assessment of the OECD (Organization for Economic Cooperation and Development)- G20(Group of 20) group’s initiatives on digital economy taxation. Furthermore, there is an in-depth analysis of the limitations of the Indian ‘Income Tax Act 1961’ and the subsequent adoption of the equalization levy. The effect of equalization levies on tax treaties, rules, and the General Agreement on Trade in Services (GATS) are examined in detail.

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Willemse, Leonard C. "Die inkomstebelastinghantering van aanvangsfranchisefooie betaalbaar in die Suid-Afrikaanse petroleumbedryf." Journal of Economic and Financial Sciences 4, no. 2 (2011): 407–26. http://dx.doi.org/10.4102/jef.v4i2.328.

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A wholesaler of petroleum products is prohibited in terms of section 12(2)(c) of Regulation 287 of the Petroleum Products Act, No. 120 of 1977, to own a retail licence for purposes other than that of training. As a result, petroleum companies make use of franchises to sell their products. The concept of a franchise is based on the principle that a franchisee obtains the franchise of an existing, often prosperous, business from a franchisor, and then operates the business under the banner of this franchise. The franchisee pays the franchisor franchise fees as consideration for certain items or

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Das, Anand Swaroop, and Kamal Sharma. "A Multidimensional Analysis of the Concept of Place of Effective Management in India: A Panacea to the Double Taxation Conundrum?" Intertax 45, Issue 3 (2017): 268–82. http://dx.doi.org/10.54648/taxi2017021.

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Today, at a time when unprecedented structural and reformative changes are taking place in the Indian Taxation paradigm, the recent amendment in section 6(3)(ii) of the Income Tax Act, 1961 through Finance Act, 2015 acquires critical importance. Section 6(3)(ii) determines ‘residence’ of a company i.e. if the company is found to be resident in India, Income Tax would be levied upon its worldwide income. By amendment, the ‘control and management’ test has been replaced by ‘place of effective management’ test which would be effective from the assessment year of 2017–2018. In December 2015, draft

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Willemse, Leonard C. "A critical analysis of the barriers to entry for small business owners imposed by Sections 12E(4)(a)(iii) and (d) and paragraph 3(b) of the Sixth Schedule Of The Income Tax Act, No. 58 of 1962." Journal of Economic and Financial Sciences 5, no. 2 (2012): 527–46. http://dx.doi.org/10.4102/jef.v5i2.298.

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According to National Treasury’s Explanatory Memorandum on the Revenue Laws Amendment Bill, 2008, small businesses in South Africa are instrumental in the growth of the South African economy as they are a source of job creation and a counter to poverty. Research, however, indicates that small businesses face many obstacles, such as relatively high tax compliance costs. It was, therefore, proposed in the 2008 Budget Review that a turnover tax system be implemented for micro businesses with a turnover of up to R1 million per annum to simplify the tax compliance process. Similarly, section 12E wa

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Engelbrecht, Waldette. "The beneficial owner of dividend income received by a discretionary trust." Journal of Economic and Financial Sciences 8, no. 1 (2015): 281–304. http://dx.doi.org/10.4102/jef.v8i1.95.

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In terms of the new Dividends Tax, which came into effect on 1 April 2012, Dividends Tax may be the liability of the beneficial owner of the dividend. This makes it important to correctly identify the beneficial owner. The term beneficial owner is specifically defined in section 64D of the Income Tax Act No. 58 of 1962 as ‘the person entitled to the benefit of the dividend attaching to the share’, yet a distinct difference remains between the legal ownership and economic ownership of the share. Within a South African context, determining the beneficial owner within a discretionary trust might

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Patra, Samira. "Perceptions of Individual Taxpayers towards Tax Avoidance: A Case Study of Cuttack District of Odisha." ComFin Research 12, no. 4 (2024): 1–8. http://dx.doi.org/10.34293/commerce.v12i4.7935.

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The primary and major source of revenue of any government is collection from the tax. The amount of tax revenue is expensed for the welfare of the public. Various provisions are laid down in the Income Tax Act, of 1961 for the levy and collection of tax. The taxpayers have to take the benefits of loopholes of the provisions for the reduction of tax burden and it is called Tax Avoidance which is a legal action. Ultimately, tax avoidance reduces the sources of revenue of the government. This paper attempts to study the perception of the individual taxpayers towards Tax Avoidance in Odisha. This

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Makkar, Kashish. "Taxing the Sale of Software: Revisiting the Definition of ‘Royalty’ Under the DTAAs." Business Law Review 41, Issue 1 (2020): 29–33. http://dx.doi.org/10.54648/bula2020004.

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The characterization of payments, for taxation, in the hands of, non-resident payees arising out of a cross-border sale of software, has always remained controversial in India. While the Revenue, contends that such payments are ‘Royalties’ for Licensing of, Copyrights, the taxpayers argue that these payments are merely, Proceeds on the Sales of Copyrighted Articles. There have been, several conflicting decisions by different Income Tax Tribunals, and High Courts that have legitimized each of these characterizations., While the Courts and Tribunals led by the Delhi, HC held for the taxpayers by

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Barkhuizen, Gerhard, and Leonard Willemse. "The impact of the deletion of section 11 (bA) on the deductibility of pre-production raising fees incurred raising fees in the expansion of an existing trade." Journal of Economic and Financial Sciences 8, no. 2 (2015): 648–65. http://dx.doi.org/10.4102/jef.v8i2.114.

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Section 11(bA) was recently deleted and replaced by section 11A in the Income Tax Act No. 58 of 1962 (“the Act” – all references to sections and paragraphs hereafter refer to the Act, unless otherwise indicated). Section 11(bA) and section 11A determined the income tax treatment of qualifying pre-production interest incurred. The article focused on whether or not pre-production raising fees incurred by the taxpayer during the expanding of an existing trade will be deductible in terms of section 11(bA) or section 11A. Section 11(bA) and section 24J allow for the deduction, in certain circumstan

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Jha, Srijita, and Akshay Zaveri. "Working of Section 153A of the Income Tax Act, 1961: Resolving the Conflict between the Literal Rule of Interpretation and Harmonious Construction." Christ University Law Journal 6, no. 2 (2017): 45–60. http://dx.doi.org/10.12728/culj.11.3.

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This article ventures into the various interpretations given by the court for the execution of Section 153A of the Income Tax Act, 1961. It has forever been a conflict as to how the particular section has to be interpreted, in order to decide whether the items of regular assessment can be added back in the proceeding under section 153A, after the finalization of assessment. This article tries to decode the mixed opinions of the court with regard to whether it is the literal rule of interpretation or the rule of harmonious construction that would apply to interpret Section 153A. This issue has

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Brink, Sophia. "Inkomstebelastinghantering van korting ontvang in die hande van 'n nie-handeldrywende persoon." Journal of Economic and Financial Sciences 7, no. 1 (2014): 213–30. http://dx.doi.org/10.4102/jef.v7i1.137.

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For income tax purposes, a taxpayer operating a business will account for discount received differently from a taxpayer not operating a business. When a taxpayer operating a business obtains goods or services at a discount, the taxpayer can claim a section 11(a) deduction at the value of the goods or services, net of the discount received. The discount reduces the value of the net reduction of taxable income and the taxpayer is effectively taxed on the discount received. A taxpayer who is not operating a business will not qualify for a section 11(a) deduction (read together with section 23(g))

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Steenkamp, Lee-Ann. "Beneficial Ownership Provisions In Tax Treaties Between Developed And Developing Countries: The Canada/South Africa Example." International Business & Economics Research Journal (IBER) 12, no. 9 (2013): 1107. http://dx.doi.org/10.19030/iber.v12i9.8056.

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In the years since the Organisation for Economic Cooperation and Development (OECD) adopted its first draft tax treaty in 1963, the world has experienced an astonishing surge in international trade and investment. The tax treatment of these cross-border transactions is affected by double tax agreements. As tax treaty networks will likely continue to expand, concerns about tax treaty abuse might be expected to grow. The extent to which a countrys tax treaty policy favours developing countries - or not - depends upon the extent to which the country is prepared to adopt provisions from the UN mod

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Maroun, Warren, Magda Turner, and Kurt Sartorius. "Does capital gains tax add to or detract from the fairness of the South African tax system?" South African Journal of Economic and Management Sciences 14, no. 4 (2011): 436–48. http://dx.doi.org/10.4102/sajems.v14i4.131.

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This research seeks to add to the existing body of knowledge on the perceived impact of Capital Gains Tax (CGT) on the fairness of the South Africa Tax System. Building on the largely qualitative work done by Vivian (2006) and Smith (1776), this research makes use of an extensive literature review followed by a correspondence analysis to complement the existing body of research into this area. The literature review discuss the fairness criteria advanced by Smith (1776) (Smith’s tax canon) and identify ‘unfairness characteristics’ of CGT. The correspondence analysis only tests the theories adva

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Ghimire, Sanjib. "A Study on Significant Changes Incorporated in the ITR-1 (SAHAJ) for the Assessment Year 2020-21 under the Income Tax Act, 1961." International Journal of Engineering and Management Research 10, no. 4 (2020): 80–87. http://dx.doi.org/10.31033/ijemr.10.4.13.

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Jain, S. "Review and Rewrite of the Income Tax Act 1961." Asia-Pacific Tax Bulletin 24, no. 3 (2018). http://dx.doi.org/10.59403/4603yt.

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In this article, the author discusses the Indian government’s latest proposal to rewrite the country’s direct tax legislation. The article identifies certain key features of the processes of rewriting the income tax laws in Australia, New Zealand and the United Kingdom, and proposes some positive outcomes from the experiences of those countries which could be adopted by the Indian task force as it undertakes its tax legislation rewriting process.

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Verlekar, Priya Prabhu. "SECTION 5A of Income Tax Act 1961 With Reference to Goan Salaried Tax Payers." Account and Financial Management Journal, January 18, 2018. http://dx.doi.org/10.18535/afmj/v3i1.05.

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Jhabakh, P. R. K. "Ruling on Applicability of Transfer Pricing Provisions to Situations Where No Income Arises under the Income Tax Act." Finance and Capital Markets (formerly Derivatives & Financial Instruments) 15, no. 5 (2013). http://dx.doi.org/10.59403/32knm94.

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In its recent judgment in the Vijai Electricals Ltd case, the Income Tax Appellate Tribunal considered the applicability of transfer pricing provisions in situations where no income can be said to arise under the Income Tax Act, 1961.

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Goel, Shivam. "Section 179 of the Income Tax Act, 1961: Analysis." SSRN Electronic Journal, 2019. http://dx.doi.org/10.2139/ssrn.3330554.

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