Income Tax Articles

TDS treatment for overseas transactions including M&A

Posted by ESHA AGRAWAL 29 March 2014 18088 Views

An instruction by foreign tax division of central board of direct taxes (CBDT) will put an end to litigation relating to TDS by indian taxpayer in overseas transaction including mergers and acquistions. When any payment is made to foreign company or

All about Income Tax Returns

Posted by CA. Kapil Goel, DISA(ICAI) 27 March 2014 33975 Views

The forms used to file income taxes with the Internal Revenue Service (IRS) are known as Income Tax Returns. Tax returns are set up in an excel worksheet format, where the income figures are used to calculate the tax liabi

Growing Importance for TDS Compliance

Posted by Rinav Ashok Khakhar 27 March 2014 32901 Views

Nowadays delay in payment of TDS and in TDS return Filing makes an assessee liable to Late Payment Interest, Late Payment Penalty, Late Filing Fees, Late Filing Penalty and Further makes him liable to prosecution under the provision of the Income Tax

Karniti Part-29: Every Taxpayer must verify his Form 26 AS

Posted by CA Umesh Sharma 26 March 2014 15107 Views

Arjuna (Fictional Character): Krishna, as one reconcile bank transaction with the bank statements from time to time, now taxpayers are required to reconcile the income tax with Form 26 AS. What is this Form 26AS? Krishna (Fictional Character): Arjuna

Joint Development Agreement - Landmark Judgment

Posted by Rupesh Srivastava 21 March 2014 208339 Views

Landmark orders on Joint development agreement, updated as on 21st March 2014 1. (2002) 4 CHN 115 "Development agreement comes out of the scope of the ambit of section 53A of the Transfer of Property Act. Therefore, section 53A of the TP Act, ha

Issue of Shares at less than FMV- Section 56(2)(vii)

Posted by MOHIT JAIN 21 March 2014 156791 Views

Analysis of Mumbai Tribunal Judgement in Sudhir Menon HUF (ITA No. 4887/Mum/2013)- AY 2010-11- Section 56(2)(vii) Facts:- Assessee was shareholder in a company and was allotted right shares (1,94,000) at face value of Rs. 100 each on 28.01.2010 The

Karniti Part-28: Colors of Income Tax and Taxpayers Holi

Posted by CA Umesh Sharma 18 March 2014 9900 Views

Colors of Income Tax and Taxpayers HoliArjuna (Fictional Character): Krishna on this day of March by making bonfire chilled winters comes to an end. Further in this month being an last month for the financial year 2013-14, taxpayers will have to blen

Conversion of Company into LLP-Accounting & Tax implications

Posted by Abhinav 18 March 2014 148624 Views

A business organisation structure is like our shoes; if too small, they pinch us; but if too large, they cause us to lose balance.1. IntroductionDeciding the form of business organisation is among the first decisions that an entrepreneur has to make.

Rajeev Gandhi Equity Savings Scheme - Section 80CCG

Posted by CHAITANYA GANATRA 14 March 2014 25250 Views

RAJEEV GANDHI EQUITY SAVINGS SCHEME (RGESS) ObjectiveThe objective of the scheme is to encourage the savings of the small investors in domestic capital market.EligibilityThe deduction shall be available to new retail investor whose gro

Karniti part 27: Pay as you earn - Advance Tax

Posted by CA Umesh Sharma 11 March 2014 10354 Views

(March Ending Special Part 2)PAY AS YOU EARN Advance Tax Arjuna (fictional character): Krishna, before 15th March last installment of advance tax will have to be paid. What precautions taxpayers should take? Krishna (fictional character):