"profits / losses on futures and options contracts (derivative transactions) is ‘Business Income’ -AAR” plus 1 more

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profits / losses on futures and options contracts (derivative transactions) is ‘Business Income’ -AAR Posted: 05 May 2010 08:28 PM PDT Recently, the Authority for Advance Rulings (AAR) in the case of Royal Bank of Canada1 has held that the profits / losses on futures and options contracts (derivative transactions) carried out by Canadian entity would be in the nature of 'Business Income'. Further since the entity did not have a... [[ This is a content summary only. Visit my website for full links, other content, and more! ]]

Hypothetical tax – Not taxable as salary income Posted: 05 May 2010 08:18 PM PDT Background The Delhi High Court1 has held that in respect of the expatriate employee sent on deputation to India, the amount of hypothetical tax representing the difference between the tax liability in the home country of the expatriate and in India should not be added to the... [[ This is a content summary only. Visit my website for full links, other content, and more! ]]

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