CBDT extends 80% rate of depreciation on windmills and devices running on wind energy installed after 31-3-2014

INCOME-TAX (EIGHTH AMENDMENT) RULES, 2014 - AMENDMENT IN NEW APPENDIX-I NOTIFICATION NO. 43/2014 [F.NO.152/1/2013-TPL]/SO 2399(E), DATED 16-9-2014 In exercise of the powers conferred by section 295 read with section 32 of the Income-tax Act, 1961 (43 of 1961), the Central Board of Direct Taxes hereby makes the following rules further to amend the Income-tax Rules, 1962, namely:— 1. (1) These rules may be called the Income-tax (8th...

Taxability of Software Payments under Income-Tax Act

Software is made available to end users by software developers either directly or through distributors. In case of direct transfer, the EULA (End user Licence Agreement) prevents the end user from effecting resale of such software. Hence there is no question of multiple level deduction of tax at source. Tax has to be deducted at source either u/s 194J or u/s 195 of Income-tax Act.  However in case of transfer through distributor, the chain...