Income Tax Articles

Some important judgments on Income Tax, GST, IBC and other corporate laws

Posted by FCS Deepak Pratap Singh 16 April 2022 6027 Views

Important judgments on Income Tax, GST, IBC and other corporate laws has been listed in this article

Income Tax Questions & Answers Series Consolidated

Posted by FCS Deepak Pratap Singh 16 April 2022 10569 Views

As we are aware that Income of a resident in India from sources anywhere in world will be taxable under provisions of Income Tax Act, 1961. In case a person, who is a non-resident in India during previous year and he earns any income from India, then taxability of that Income will be decided on the basis of source of income as well as residence of assessee.

Impact of waiver of loan or liability on depreciation claim

Posted by FCS Deepak Pratap Singh 13 April 2022 3259 Views

When a loan taken for acquiring a depreciable capital asset or a part of the purchase price of such capital asset is waived in a year subsequent to the year of acquisition,

Now Agriculture Income Under Strict Scrutiny

Posted by CA Umesh Sharma 11 April 2022 15697 Views

CAG has prepared a report on Assessments Relating to Agriculture Income which was presented in the 49th report of the Public Accounts Committee which clearly stated that the rich farmers whose agriculture income exceeds Rs 10 lakh per year limit, will face stricter scrutiny of agricultural income.

TDS on interest on PF contributions in excess of threshold limit

Posted by FCS Deepak Pratap Singh 11 April 2022 8194 Views

EPFO ISSUED CIRCULAR CLARIFYING TDS ON INTEREST ON PF CONTRIBUTIONS IN EXCESS OF THE THRESHOLD LIMIT

Tax savings through HUF

Posted by FCS Deepak Pratap Singh 11 April 2022 6933 Views

HUF is a creation of law and cannot be created by the act of parties, except in the case of adoption by member of HUF.

Concept of "Safe Harbour Rules" under Income Tax Act 1961

Posted by FCS Deepak Pratap Singh 11 April 2022 3367 Views

Base erosion and profit shifting (BEPS) refers to corporate tax planning strategies used by multinationals to "shift" profits from higher-tax jurisdictions to lower-tax jurisdictions, thus "eroding" the "tax-base" of the higher-tax jurisdictions.

Box-Office Collections

Posted by CA Ranganatha Achar K 08 April 2022 6702 Views

As a Chartered Accountant and having my feet firmly on the ground about the costs I used to always feel that the producer of the movie tends to increase the Production cost and Revenue generated by the movie for an entirely different cause and could be a clear case of money laundering either single-handedly or with a group of Investors.

ITR Filing Online for FY 2021-22 (AY 2022-23)

Posted by Ishita Ramani 06 April 2022 27239 Views

Income Tax Department has notified 7 various forms up till now i.e. Form ITR 1 to ITR 7 for filing Income Tax Return for different types of income and different types of entities.

Maharashtra Settlement of arrears of Tax, Interest, Penalty, or Late Fees Scheme 2022

Posted by CA Umesh Sharma 04 April 2022 8344 Views

The Maharashtra Government has introduced the scheme in the L.A. BILL No. IX of 2022 to settle old disputes. Considering the same, the government has introduced disputes between the Maharashtra government and taxpayers.