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Income Tax Articles


Section 234E Cracked

Posted by Dingu 24 February 2014 47122 Views

Of late this month we must have received lot of demand from CPC seeking demand for non remittance of 234E FEES (not Tax). Well here is something to crunch on 234E will not apply to cases where TDS payment is made beyond the time limit prescribed for



Beware !! Another Fraud in the Air !!

Posted by Prof. Bajaj 24 February 2014 18245 Views

Mr. Rajeev Kumar, a Chartered Accountant, working with a leading Automobile company was worried about his insurance policy. He had bought an insurance-cum-investment plan from a company (say K) 3 years back with an annual premium of Rs



Taxability of Foreign companies in recent times

Posted by CA. Kunal Lakhotia 24 February 2014 14521 Views

Controversy on taxability of Engineering Procurement & Construction (EPC) company EPC companies are those which design the installation, procure the necessary materials and build the project, either directly or by subcontracting par



Proposed DTC is anti-reform

Posted by CA Anil Garg 20 February 2014 12537 Views

Income Tax law must have suffered the most volatility and changes since enactment in 1961. Government has been twisting it at will in order to extract more and more revenue. This must have the dubious distinction of being subject matter of highest li



Double Taxation avoidance Agreement

Posted by @*CS Siddharth Bumb. * 17 February 2014 42515 Views

Hello Friends,We will discuss on Double taxation avoidance agreement (DTAA). First we will understand the need of DTAA and its introduction.NEED AND IMPORTANCE OF DTAA : In modern world, no one stops doing business in his territory only, a businessm



Karniti P24: Income Tax Dept "Fielding" for Cricket Players

Posted by CA Umesh Sharma 17 February 2014 10216 Views

Arjuna (fictional character): Krishna, recently players were purchased in crores of rupees for IPL cricket matches. All are crazy about cricket. How income tax is levied on the money re



Reverse Mortgage: Advantages and Drawbacks

Posted by CA Gaurav Choradia 13 February 2014 18406 Views

Senior Citizens are an increasing component of the Indian Society and dependency in old age is increasing in the country. While on the one hand, there is significant increase in longevity and low mortality, on the other hand, cost of good health



Interpretation of 'month' as per the IT Act 1961

Posted by Srinivasan Rangarajan 11 February 2014 35295 Views

A 'month' under the Income Tax Act,1961 - An English Calendar monthOR a lunar month of 30 days?You may be knowing that full interest is being charged for delayed remittance of tax for a part of a month (of the English Calendar, interpreting



Section 2(47)(v) may hit by change in 53A of the TP Act

Posted by Vaiyapuri kannan 11 February 2014 53009 Views

The real impact of the amended provision of the Registration & other Relevant Laws ( Amendment ) Act 2001 on taxation of transfer of capital assets under the circumstances referred to in clause (v )of section 2 ( 47) of the income tax A



Salary TDS - Marginal on Surcharge

Posted by T E Gautham 10 February 2014 22322 Views

As per the tax rates applicable for A.Y. 2014-15, if the annual taxable salary goes above Rs 1 crore, a surcharge of 10% on Income Tax is to be added to the Income Tax calculated as per the tax slabs. Consequently, the Total Income Tax calculation sh




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