Decoding Section 5
- Year of Publication: 2018
- ISBN: 9788193746868
- No.of Pages: 230
Decoding Section 5 provides an in-depth analysis on Section 5 of Income tax Act, 1961 and discusses its interplay with other provisions of the Act. Largely untouched by legislative amendments, the authors of the book have attempted to peel through years of judicial exposition on the provision and adopt a fresh and unfettered approach. The authors dig deep with their research, to analyze many terms used in the legislation, which are sometimes used inter-changeably or which are bandied about without full appreciation. The difference between Receipt and Accrual of Income has long been a bone of contention between the tax collector and tax payer. The true import and wider ramifications of “receipt”, “accrual” and “deemed accrual” are succinctly explained, as also the genesis of Double Taxation Avoidance Laws. The celebrated decision of the Apex court in Vodafone case, which also exposits concepts of accrual and deemed accrual have been explained in a manner which would be appreciated both by tax practitioners as well as a layman. The book would be an asset in any library and it is recommended in classrooms too for a better understanding of Section 5 of the Income Tax Act, 1961, which are the pillars of the Act.
H. Padamchand Khincha is a partner in H C Khincha & Co and H C Khincha & Associates, Bangalore. With over 30 years of experience in corporate and international tax regime, he has spearheaded the income- tax consultancy and litigation practice. He advises multinational companies, Indian companies as well as high networth individuals on various tax matters including tax structuring, due diligence, transfer pricing and compliance aspects. He has represented large corporates in some of the high- profile cases before various Income- tax tribunals across India and has been associated with several landmark decisions too.
Padamchand Khincha is a prolific writer on various topics in income- tax. He has authored the book ‘Emerging Issues in International Taxation’. He has co- authored “Permanent Establishment – Emerging trends”, “Decoding section 5”, “Tax Holiday U/s.10A and 10B - An analysis”; “Tax Treaties of India - A compilation”; “Capital gains of Non- residents”; “Tax deduction at source”; “Concept of Indexation under capital gains”.
He has contributed to various articles and papers published by The Chamber of Tax Consultants, ITRAF, BCAS. He has authored and co- authored articles across various tax magazines including the Taxmann publication, Bombay Chartered Accountants Journal, ITR etc. He has delivered more than 500 lectures across the nation on several income- tax issues.
He has been actively engaged in several initiatives undertaken by the Institute of Chartered Accountants of India (ICAI). He was appointed the group leader for preparing the approach paper on the Guidance Note on Transfer Pricing. He was instrumental in making a critical analysis of the Direct Tax code as a member of the team constituted by ICAI on the request on CBDT. He was a member of Committee of ICAI involved in preparing the technical background paper on Income Computation and Disclosure Standards. He deposed as an expert before (a) high powered committee on E. commerce constituted by the Central Board of Direct Taxes in India; (b) Rangachary Committee set up to “Review Taxation of Development Centres and the IT Sector; and (c) by the A P Shah Committee constituted by the Government of India to examine the matters relating to MAT on FII/ FPI(s). He was a country reporter for India for IFA Rio de Janeiro Congress 2017 on ‘Assessing BEPS - Origin, Standards, Responses’. He is on the editorial board constituted for International Tax Journal published by the Chamber of Tax Consultants.
His teaching stints in the past include guest lectures at IIM, Bangalore; intensive coaching classes of ICAI; faculty at the Direct Taxes Training Institute of the Income Tax Department. Padamchand Khincha is a Commerce graduate from the University of Bangalore securing 5th Rank at the University level. He holds a Bachelor’s degree in Law.
He qualified as a Chartered Accountant in 1982 by securing the 25th rank.
K.K. Chythanya has over 31 years of experience in taxation matters and is an advocate practicing in the Karnataka High Court. He holds briefs in the Supreme Court as well as in other High Courts.
He has authored a book on Special Economic Zone and co- authored two books viz, “Tax Holiday under Section 10A and 10B – An analysis” and “Decoding Section 5 – Analysis of scope of total income under Income Tax Act, 1961”. He has contributed several articles to ITR, Chartered Accountant, Bombay Chartered Accountants Journal, Taxmann, Current Tax Reporter and other journals. He has also presented paper on Income Tax and GST/ VAT at various forums including ICAI, BCAS, CTC – Mumbai, IFA, Society of Auditors, AIFTP and BCIC.
He has addressed at IIM, Bengaluru; MDP of ICAI, New Delhi; MDP of ICAI, Bengaluru and Direct taxes training centre of Income tax department. As a member of study group of ICAI, he has been instrumental in framing the Guidance Note on Transfer Pricing.
He has deposed before Committee on Direct Tax Matters headed by Hon’ble Justice A P Shah on the levy of MAT on FIIs and has been a country reporter for India for IFA Seoul Congress 2018 on ‘withholding tax’. A meritorious student throughout his academic life, Sri. K.K. Chythanya is a Commerce graduate from Mysore University securing 1st Rank and a qualified Chartered Accountant with 1st position in Karnataka and an impressive 15th position across India.
OakBridge is a new age information services company established to re-establish the craft of publishing to better-serve the evolved needs of today’s Professionals and Academia. It is uniquely designed to have a strong framework of authoritative and reliable content, ethical and transparent business practices, operational excellence, and an unparalleled customer experience.
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- Year of Publication: 2018
- ISBN: 9788193746868
- No.of Pages: 230
Decoding Section 5 provides an in-depth analysis on Section 5 of Income tax Act, 1961 and discusses its interplay with other provisions of the Act. Largely untouched by legislative amendments, the authors of the book have attempted to peel through years of judicial exposition on the provision and adopt a fresh and unfettered approach. The authors dig deep with their research, to analyze many terms used in the legislation, which are sometimes used inter-changeably or which are bandied about without full appreciation. The difference between Receipt and Accrual of Income has long been a bone of contention between the tax collector and tax payer. The true import and wider ramifications of “receipt”, “accrual” and “deemed accrual” are succinctly explained, as also the genesis of Double Taxation Avoidance Laws. The celebrated decision of the Apex court in Vodafone case, which also exposits concepts of accrual and deemed accrual have been explained in a manner which would be appreciated both by tax practitioners as well as a layman. The book would be an asset in any library and it is recommended in classrooms too for a better understanding of Section 5 of the Income Tax Act, 1961, which are the pillars of the Act.
H. Padamchand Khincha is a partner in H C Khincha & Co and H C Khincha & Associates, Bangalore. With over 30 years of experience in corporate and international tax regime, he has spearheaded the income- tax consultancy and litigation practice. He advises multinational companies, Indian companies as well as high networth individuals on various tax matters including tax structuring, due diligence, transfer pricing and compliance aspects. He has represented large corporates in some of the high- profile cases before various Income- tax tribunals across India and has been associated with several landmark decisions too.
Padamchand Khincha is a prolific writer on various topics in income- tax. He has authored the book ‘Emerging Issues in International Taxation’. He has co- authored “Permanent Establishment – Emerging trends”, “Decoding section 5”, “Tax Holiday U/s.10A and 10B - An analysis”; “Tax Treaties of India - A compilation”; “Capital gains of Non- residents”; “Tax deduction at source”; “Concept of Indexation under capital gains”.
He has contributed to various articles and papers published by The Chamber of Tax Consultants, ITRAF, BCAS. He has authored and co- authored articles across various tax magazines including the Taxmann publication, Bombay Chartered Accountants Journal, ITR etc. He has delivered more than 500 lectures across the nation on several income- tax issues.
He has been actively engaged in several initiatives undertaken by the Institute of Chartered Accountants of India (ICAI). He was appointed the group leader for preparing the approach paper on the Guidance Note on Transfer Pricing. He was instrumental in making a critical analysis of the Direct Tax code as a member of the team constituted by ICAI on the request on CBDT. He was a member of Committee of ICAI involved in preparing the technical background paper on Income Computation and Disclosure Standards. He deposed as an expert before (a) high powered committee on E. commerce constituted by the Central Board of Direct Taxes in India; (b) Rangachary Committee set up to “Review Taxation of Development Centres and the IT Sector; and (c) by the A P Shah Committee constituted by the Government of India to examine the matters relating to MAT on FII/ FPI(s). He was a country reporter for India for IFA Rio de Janeiro Congress 2017 on ‘Assessing BEPS - Origin, Standards, Responses’. He is on the editorial board constituted for International Tax Journal published by the Chamber of Tax Consultants.
His teaching stints in the past include guest lectures at IIM, Bangalore; intensive coaching classes of ICAI; faculty at the Direct Taxes Training Institute of the Income Tax Department. Padamchand Khincha is a Commerce graduate from the University of Bangalore securing 5th Rank at the University level. He holds a Bachelor’s degree in Law.
He qualified as a Chartered Accountant in 1982 by securing the 25th rank.
K.K. Chythanya has over 31 years of experience in taxation matters and is an advocate practicing in the Karnataka High Court. He holds briefs in the Supreme Court as well as in other High Courts.
He has authored a book on Special Economic Zone and co- authored two books viz, “Tax Holiday under Section 10A and 10B – An analysis” and “Decoding Section 5 – Analysis of scope of total income under Income Tax Act, 1961”. He has contributed several articles to ITR, Chartered Accountant, Bombay Chartered Accountants Journal, Taxmann, Current Tax Reporter and other journals. He has also presented paper on Income Tax and GST/ VAT at various forums including ICAI, BCAS, CTC – Mumbai, IFA, Society of Auditors, AIFTP and BCIC.
He has addressed at IIM, Bengaluru; MDP of ICAI, New Delhi; MDP of ICAI, Bengaluru and Direct taxes training centre of Income tax department. As a member of study group of ICAI, he has been instrumental in framing the Guidance Note on Transfer Pricing.
He has deposed before Committee on Direct Tax Matters headed by Hon’ble Justice A P Shah on the levy of MAT on FIIs and has been a country reporter for India for IFA Seoul Congress 2018 on ‘withholding tax’. A meritorious student throughout his academic life, Sri. K.K. Chythanya is a Commerce graduate from Mysore University securing 1st Rank and a qualified Chartered Accountant with 1st position in Karnataka and an impressive 15th position across India.
OakBridge is a new age information services company established to re-establish the craft of publishing to better-serve the evolved needs of today’s Professionals and Academia. It is uniquely designed to have a strong framework of authoritative and reliable content, ethical and transparent business practices, operational excellence, and an unparalleled customer experience.
