Income Tax Articles
Income Tax Provision for Doctors
Among the busiest of professionals, doctors have little time to learn about the latest tax law. Tax planning is often neglected in the crush of other obligations. Being India�s Top 10s income earners, they have need to give more attention to th
How to maintain safe distance from the IT department !!
Do you want to keep an Arm�s Length Distance from the Income Tax Department?Obviously the Answer is YES !!! But the question here is HOW ???Here are a list of expenses/ investments, which at any point of time performed by you may invite undue a
Section 115JB of the income tax act
SECTION 115JB OF INCOME TAX ACT, 1961 SPECIAL PROVISION FOR PAYMENT OF TAX BY CERTAIN COMPANIES (AFTER BUDGET 2016) This section is nothing but the Minimum Tax that a company is required to pay. This section provides that in case the tax payable by a
Highlights of Section 194IA
Highlights of Section 194-IA (TDS On Sale/Purchase of IMMOVABLE PROPERTY)Crux :1.As per Finance Act of 2013, TDS is applicable on transfer of any Immovable Property(other than agricultural land), wherein the consideration of the property exceeds or i
Understanding tds on purchase of immovable property
Understanding of Notice, Penalty, Late fees and Interest on TDS for Purchase of Immovable PropertyAs per Finance Act of 2013, TDS is applicable on transfer of Immovable property, wherein the consideration of the property exceed
Simplification of taxation law vis-a-vis progressive tax legislation
The development of a nation is measured by Gross National Product (GNP) or Per Capital Real Income (PCRI). The above two are the economic indicators used to measure the economic development of a nation. There are non-economic indicators which are of
Understanding of Compliance Query of Income Tax Department
Income tax department has started sending notices (Compliance Query) to non-filers for the assessment year 2013-14 & onwards & are also using the said information to verify under-reporting of income. The income tax department has been capturing infor
Movies and Income Tax returns, what's the similarity?
Karneeti Part � 123 Movies and Income Tax returns, what�s the similarity?Arjun (Fictional character): Krishna, what are the changes made in the New Income Tax return forms (ITR forms) from 1st April 2016? Just like new sequels of films ha
Changes proposed in Form 15CB & CA - wef 1st Apr 2016
Wef 1st Apr 2016, the provisions applicable to Income-Tax Rule 37BB read with Sec 195 is amended i.e. issuance of Form 15CB & CA. Following are the key points covered therein.The furnishing of information for payment to a non-resident, not being
Rectification and Issues Related to Rectification of Income Tax Return
Rectification and Issues Related to Rectification of Income Tax ReturnRectification has become easy since switchover to online but it has its own limitation. In this articleI will be covering almost every point related to rectification in terms of:&b
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