Income Tax Articles

ICDS, the basic questions

Posted by CA Sripriya K 24 June 2016 32037 Views

1. What is ICDS? The Ministry of Finance has issued ten Income Computation and Disclosure Standards (ICDS), which is a new framework for computation of taxable income 2. Who does it apply to ?It applies to all assesses in relation to their income und

Deferred Tax Introduction

Posted by Shubham Gupta 24 June 2016 10682 Views

Deferred tax When we look out for the meaning for "Deferred�" it means to Postpone or delay. Similarly deferred tax is also liability to pay tax in future that we have postponed and have to reflect in our balance sheet.With coming of finan

Already retired? Then this is what you have to follow now!

Posted by CA ANKIT GUPTA 24 June 2016 7911 Views

If you are already retired, what you really need is a retirement solution. Let�s begin by discussing the uniqueness associated with building a portfolio for retirees.Firstly, the importance of capital preservation gets magnified manifold. The r

Common mistakes in filling of Income Tax Return

Posted by Rinav Ashok Khakhar 20 June 2016 14255 Views

The accurate and complete filling up of the relevant column or detail in the Income Tax Return (ITR) form is most crucial for correct calculation of income.

Taxation on Investors and Traders

Posted by Munim.in 17 June 2016 9237 Views

Investor or Trader?According to Central Board of Direct Taxes(CBDT): Investor: anyone who invests with the intention of earning through dividends Trader: anyone who buys and sells with the intention of profiting from

Section 44AD of the Income tax Act after Budget 16

Posted by MANSHI BAID 17 June 2016 31973 Views

SPECIAL PROVISIONS FOR COMPUTATION OF PROFIT AND GAIN OF BUSINESS ON PRESUMPTIVE BASIS(After Budget 2016)This section is nothing but provides a relaxation to the tax payers to declare income on presumptive basi

General Question Regarding Income-tax

Posted by jyoti 14 June 2016 10567 Views

General Question Regarding Income-tax 1. What is Income Tax? It is a tax imposed by the Government of India on any body who earns income in India. This tax is l...

Wealth Tax Basic Provisions

Posted by CA.Tarun Maheshwari 14 June 2016 43217 Views

Assessees Liable to Wealth Tax (Section 3)Wealth Tax is charged for every assessment year in the hands of individuals, HUFs and all companies (private as well a...

Section 43 B of income tax act,1961

Posted by PIYUSH SINGH 14 June 2016 153587 Views

Section 43 B (Allowance Of Deduction on Payment Basis)If the assessee follows mercantile system of accounting actual payment of expenditure during the P.Y is no...

Now everyone has to pay 1st installment of advance tax before 15th June!

Posted by CA Umesh Sharma 14 June 2016 12578 Views

From F.Y 2016-2017 the first installment of advance tax will have to be paid on or before 15th�June and later the remaining in aforesaid 3 installments.