Income Tax Articles

Karniti Part-37: Importance of Making a "Will" & its Tax effect

Posted by CA Umesh Sharma 20 May 2014 7790 Views

Arjuna (Fictional Character): Krishna, What is Will?Krishna (Fictional Character): Arjuna, Today separated families are increasing. In this era all are running behind money. Therefore wherever there is wealth, problem arises. The life o

Marry Your Way To Tax Planning

Posted by CA. Ankit Chandrakar 19 May 2014 15166 Views

WHAT IS AN HUF? The term Hindu Undivided Family is not defined in the Income Tax Act. It is defined under the Hindu Law as a family that consists of all persons lineally descended from a common ancestor,

Sec 87A-A small Rebate to Resident Individuals

Posted by CA Prashant Gupta 16 May 2014 42299 Views

Sec 87A- A small Rebate of income-tax to Resident Individuals.In Budget 2013 Finance Minister Mr. P. Chidambaram choose a middle way to give benefit to small tax payers and save a big amount of tax for tax revenue by neglected bigger slab tax payers

Service PE- Centrica India Offshore Judgement- Anlaysed

Posted by MOHIT JAIN 14 May 2014 10616 Views

SERVICE PE- Critical Observations on Judgement in Centrica India Offshore (P) Ltd. Facts:- Centrica Plc, a company incorporated in UK, along with foreign subsidiaries in Canada, collectively referred to as Overseas Entities were engaged

Karniti Part- 36: What is "HUF" (Hindu Undivided Family)?

Posted by CA Umesh Sharma 12 May 2014 11664 Views

Arjuna (Fictional Character): Krishna, What is mean by HUF Hindu Undivided Family under Income Tax Act?Krishna (Fictional Character): Arjuna, Generally in India mother, father, son and

Accounting and Tax Implication on conversion of Co to LLP

Posted by smit shah 09 May 2014 52249 Views

Before starting with anything we shall have the Overview of LLP its Enactment, features, Constitution etc.Background of LLP:LLP as a structure is not new in the International Scena

Unexplained Cash Credits, Investments, Money etc.

Posted by CA. Nishant Jain 07 May 2014 20203 Views

Unexplained Cash Credits, Investments, Money etc.Compiled by CA Nishant Jain Section 68: Cash Credits Where any sum is found credited in the books of an assessee, maintained for any previous year and the assessee offers no explanation about the natur

Exemption for Leave Travel Concession u/s 10(5) of the IT Act

Posted by Prashant Bhosale 07 May 2014 80996 Views

Section 10(5) of the Income Tax Act, 1961 (along with Rule 2B of the Income Tax Rules) governs calculation of tax exemption on LTA. Each year organizations face significant difficulty while calculating tax exemption on LTA when they carry out the yea

TDS U/S 194C: Introduction

Posted by pawan tewari 07 May 2014 29394 Views

Simplified version of section 194c: TDS on contract.Let me introduce two dummy persons Mr Ram (expert) Mrs Ram (little idea of provisions of sec 194c.)Mrs Ram: who are required to deduct TDS u/s 194?Mr Ram: Any person who is responsible to pay a resi

Introduction to basic components of salary

Posted by Annu Agarwal 03 May 2014 43825 Views

We are surrounded by people working with a handsome salary.What if they are made more smarter with an introduction to some of the basic components of their salary.Hope the readers find it useful!! Sr. No What are We Talking About