Income Tax Articles

Section 44AD of the Income tax Act after Budget 16

Posted by MANSHI BAID 17 June 2016 31964 Views

SPECIAL PROVISIONS FOR COMPUTATION OF PROFIT AND GAIN OF BUSINESS ON PRESUMPTIVE BASIS(After Budget 2016)This section is nothing but provides a relaxation to the tax payers to declare income on presumptive basi

General Question Regarding Income-tax

Posted by jyoti 14 June 2016 10567 Views

General Question Regarding Income-tax 1. What is Income Tax? It is a tax imposed by the Government of India on any body who earns income in India. This tax is l...

Wealth Tax Basic Provisions

Posted by CA.Tarun Maheshwari 14 June 2016 43217 Views

Assessees Liable to Wealth Tax (Section 3)Wealth Tax is charged for every assessment year in the hands of individuals, HUFs and all companies (private as well a...

Section 43 B of income tax act,1961

Posted by PIYUSH SINGH 14 June 2016 153583 Views

Section 43 B (Allowance Of Deduction on Payment Basis)If the assessee follows mercantile system of accounting actual payment of expenditure during the P.Y is no...

Now everyone has to pay 1st installment of advance tax before 15th June!

Posted by CA Umesh Sharma 14 June 2016 12574 Views

From F.Y 2016-2017 the first installment of advance tax will have to be paid on or before 15th�June and later the remaining in aforesaid 3 installments.

Cyprus to follow Mauritius route

Posted by Rohan Pandey 10 June 2016 5444 Views

A delegation from Cyprus is likely to visit New Delhi later this year to discuss various clauses of the double taxation avoidance agreement (�DTAA�) between the two country.It is likely that Cyprus shall allow India to tax capital gains t

Krishna at the rescue of tax evaders in IDS-2016

Posted by Hiren Sanghvi and Associates 09 June 2016 6672 Views

Conversation between Krishna & ArjunArjun: Who can participate in IDS introduced under Finance Act, 2016 by the Indian Government? Krishna: Following is a list of people, Every Indian Resident who is guilty of his practices of ta

Tax Provisions on Income of Investment Funds and Income Received From such Fund

Posted by ESHA AGRAWAL 09 June 2016 6278 Views

�Death, taxes and childbirth! There�s never any convenient time for any of them.At first instance, readers might think it weird to use these three words namely, death, taxes and childbirth fit into one grid system of words together. But t

No TCS on provision of any service due to drafting anomaly in Section 206C of IT Act

Posted by Manoj Agarwal 09 June 2016 7961 Views

I am sure that you are completely surprised by the title because nobody has yet pointed out such an anomaly!! You heard it right and please do let me explain. The Hon�ble Finance Minister Shri Arun Jaitley has brought amendment in Section 206C

Equalisation Levy

Posted by CA Priyanka Kushwaha 08 June 2016 8456 Views

Budget 2016 has inserted a new chapter VIII in Income Tax Act, 1961. This relates to taxation on services of digital advertising from foreign companies like facebook, google etc. In addition to this new chapter, related sections have also been amende