Income Tax Articles

TP Alert | Vodafone Case: Bom HC decoded applicability of TP

Posted by RAGHAV GUPTA 14 October 2014 20666 Views

Vodafone Case Summary: Bombay HC rules on the applicability of TP provisions to issue of shares to associated enterprises; holds share premium does not give rise to incomeSection 92(1) of the Income Tax Act (Act) states th

Concept of Contemporaneous Documentation in Transfer Pricing

Posted by CA Deepanshu Bansal 14 October 2014 11524 Views

Contemporaneous documentation means information, records and other documents which exist or brought into existence at the time the taxpayer is developing or implementing any arrangement that might raise transfer pricing issues. It is important that

Be Careful - while making transactions in cash!!

Posted by CA Umesh Sharma 13 October 2014 28081 Views

Karniti Part 58 Be Carefulwhile making transactions in cash!! Arjuna (Fictional Character): Krishna, Today is 13th October last day for the promotion of Elections. In the chaos of election, crores of rupees were ceased. During this period Ele

Equity linked saving scheme (ELSS) - The best tax saving tool

Posted by CA. Ankit Chandrakar 07 October 2014 23293 Views

WHAT IS AN EQUITY LINKED SAVING SCHEME (ELSS)? ELSS is a popular mutual fund scheme that allows you to take exposure in the equity market, while simultaneously serving as a tax-saving product. It is a type of mutual fund which invests majority of its

Revision of tax audit report

Posted by CA.MANOJ LAMBA 06 October 2014 70552 Views

The system of Tax Audit u/s 44AB has changed drastically in recent time. Particularly the change of manual filling to non filling and now from non filling to e filling has raised lot of

Pension- Taxation issues

Posted by ESHA AGRAWAL 06 October 2014 184198 Views

Pension is a retirement benefit; this is taxed as salary in the hands of the employee. Tax is deductable under section 192 of income tax act on payment. Family pension received by the dependence of the employee is taxable under th

Transfer pricing issues relating to royalty payment

Posted by RAGHAV GUPTA 04 October 2014 30970 Views

Royalty payment has been a matter of intensive discussion in India as well as internationally. Recently, the Organisation for Economic Cooperation and Development (OECD) published discussion paper on Base Erosion and Profit Shifting (BEPS) in which i

Certificate under Rule 37BB of Income Tax Rules, 1962

Posted by Milind M. Kulkarni 01 October 2014 96250 Views

Requirement for certificate of an accountant under Rule 37BB, or certificate in form 15CB as it is popularly known, originates from Section 195 (6) of Income Tax Act, 1961 (“the Act”) which requires a person making payment to a non reside

The Story behind the Extension of Due Date for ROI for AY 2014-15

Posted by Hetvi Sheth 01 October 2014 44126 Views

The order dated 20th August, 2014 issued by the Central Board of Direct Taxes (CBDT) extending the due date for obtaining and furnishing of Tax Audit Report (TAR) under section 44AB of the Act for Assessment Year 2014-15 from 30th September, 2014 to

The Force behind the ITR Extension

Posted by CA Sudhir Halakhandi 30 September 2014 24391 Views

THE FORCE BEHIND THE ITR DATE EXTENSIONTAR DEFERMENT 2014 CA SHIV KHATRY THE ADMIN OF THE HISTORIC GROUP- BY CA SUDHIR HALAKHANDI At the Last the Date of Filing of Income Tax Returns is extended to match it with the date of Tax audit report