Income Tax Articles

Service PE- Centrica India Offshore Judgement- Anlaysed

Posted by MOHIT JAIN 14 May 2014 10615 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

Friendly introduction to Income From house Property

Posted by Annu Agarwal 30 April 2014 13148 Views

Hello everyone!!Have you ever realized that reading a book alone is always boring as compared to reading the same book along your friends. In this new article of mine, I have tried to discuss the topic in an interactive manner to make it more intere

Section 40(a)(ia): Whether applicable to sum payable at the year end or on all sums during year

Posted by Sagar Gupta 22 April 2014 20389 Views

Section 40(a)(ia) of the act was introduced in the Income Tax Act, 1961 by the Finance (No 2) Act, 2004 w.e.f. 01.04.2005 with the view to augment the revenue through the mechanism of tax deduction at source. This provision was bought so as to disall

Overseas shoot not taxable in India

Posted by ESHA AGRAWAL 18 April 2014 12447 Views

To facilitate shooting in foreign locations for film and TV Indian production houses utilizes services of overseas entities, the issue then arises whether these payments are subject to tax in India, in the hands of overseas parties. Endemol