Income Tax Articles

Implementation of GAAR - Postponed to April 1, 2016

PRIYANKA WADHAWAN 22 January 2013 at 15:36

Dear All, We are pleased to inform that the Ministry of Finance has decided to postpone the implementation of GAAR and shall be applicable from 1st April, 2016.

Centralised Processing of Statement of TDS Scheme, 2013

CA Sourabh Agarwal 19 January 2013 at 15:59

Centralised Processing of Statement of TDS Scheme, 2013 (Notification 3, Date of Issue 15-01-2013) Ministry of Finance has introduced the scheme for Centralised Processing of Statement of TDS on 15th January, 2013 in exercise of powe

MAT - Make it easy

Saurabh Maheshwari 19 January 2013 at 15:59

Normally, a company is liable to pay tax on the income computed in accordance with the provisions of the Income-tax Act, 1961 but the profit and loss account of the company is prepared as per the provisions of the Companies Act, 1956. There were

Recent Changes in GAAR

Rahul Chilal 19 January 2013 at 15:59

Introduction: The Ministry of Finance had come out with General Anti Avoidance Agreement (GAAR) in this buget. But due to its opposition from many quarters especially the FIIs(Foreign Institutional Investors), Government formed a expert Com

Applicability of sec. 9(1)(vii) on Offshore Supply Contract

Deepak Agrawal 19 January 2013 at 15:55

XYZ is engaged in the business of real state development. In the normal course of business, it imports the various high quality equipment's and goods from outside India. Whether the title and ownership of the goods exported by exporter outside India,

Direct Tax Code - Some Important Aspects

CA Roopak Singh 19 January 2013 at 15:54

The readers are informed in advance that the following article may appear bit lengthy but may contain important information, so kindly bear with the same. Everyone is waiting for the much discussed Direct Tax Code, but I have noticed some points

Taxation of Non Residents

CA Sumat Singhal 15 January 2013 at 13:26

TAxation of non residents Who is a resident for tax purposes? (Section 6) INDIVIDUAL An individual is considered as a resident if he is in India for 182 days or more in a previous year OR in India for 365 days o

Search & Survey under income tax act

CS Advocate Abhishek Goyal 12 January 2013 at 13:21

SEARCH & SURVEY-PROVISIONS & PROCEDURES-A BRIEF OVERVIEW Search & seizure-meaning of: Search, according to normal dictionary meaning, means to look out, to seek or to find something the presence of which is su

Tax saving tips for the new year 2013

CA Roopak Singh 08 January 2013 at 12:17

First of all Happy New Year to the readers and happy new tax benefits. 1. Every Family member to be an assessee: Every family member should be an income tax assessee to avoid clubbing provisions and avoid the gifting complications. 2. Prepare

Note on deduction u/s. 80HH to 80TT and Limit u/s. 80AB

Deepak Agrawal 08 January 2013 at 12:17

Note on Allowability of deduction u/s. 80HH to 80TT of the Act to the extent of Gross Total Income in light of provision of section 80AB and determined Judicial Pronouncements: 1.1 Section 80AB of the Act: Deductions to be made with re