Income Tax Articles

Tax Accounting for Constructions Contracts

CA Ayush Agarwal 06 September 2012 at 12:51

Dear Members, Many Construction Contractors are Always Found in Confusion to Which System is to be Followed for Accounting as Far as Income Tax Act is Concerned. Here is Detail Discussion on Tax Accounting of Construction Contract. After Reading G

CBDT issues Advance Pricing Agreements (Rules)

Rahul Chilal 06 September 2012 at 12:51

One of the announcement which was very anticipated in Transfer Pricing Arena was the Advanced Pricing Agreement (APA). CBDT released the rules on APA on 30th August. The Finance Minister had announced that the APA will be released so that the d

Section 54 EC case laws

Saurabh Maheshwari 28 August 2012 at 11:27

Beauty of case laws- Whether its Direct tax law or Indirect tax law or corporate or allied laws, case laws are very important to digest the provisions of law conceptually. The beauty of case law is that it is not only interesting but also clarifies

Benefits u/s 80ID

CA Ayush Agarwal 23 August 2012 at 13:09

Five year tax holiday for hotels located in specified districts having a world Heritage Site. Section 80-ID of the Income-tax Act provides for a five year tax holiday to new hotels of two, three and four star categories and convention centres. It

Transfer Pricing & Role of Company Secretaries

Jinesh Bhagdev 18 August 2012 at 12:14

A Company Secretary holds a key position in any Company as the Compliance Officer of the Company. A Company Secretary is responsible for all regulatory compliances of Company. A Company Secretary supervises the finalization of Annual Accounts of a

Provisions for Investments by banks

Member (Account Deleted) 14 August 2012 at 11:28

Allowability of provision made by banks for Investment Depreciation Reserve due to MTM for AFS & HFT and amortization of premium on HTM. Many banks are disallowed for the certain deductions which are to be made as per RBI statutory regulat

Interesting Times for Foreign Debt

CA Shail Shah 11 August 2012 at 13:35

INDIA Inc. is for some interesting times with the exchange rate hitting the roof. The Government is doing its bit to attract foreign debt. Be it the announcement made during the Budget exercise or the recent amendments made to the Foreign Exchange l

Filing tax returns in odd situations

CA MK Agarwal 09 August 2012 at 11:46

Filing tax returns in odd situations If travelling or seriously indisposed with online filing, you can submit your return from any corner of the world. However, if you take the offline route and are travelling overseas, any person authorized by yo

What to do when you get a tax notice?

CA MK Agarwal 07 August 2012 at 11:54

A missive from the tax department sends a wave of panic in the average taxpayer even though it may just be a routine enquiry or even a clarification sought by the assessing officer (AO). The mere thought that

Purchase of Immovable Property from Non-Resident

Yogesh Agarwal 03 August 2012 at 11:40

"I write this article only so because I have come across with one practical problem with the payment to Non Resident for buying immovable Property from h