Income Tax Articles

Tax audit under income tax and cost audit: Correlation & new amendments

Posted by CMA Navneet Kr Jain 16 August 2014 31608 Views

Ensure the review of Cost Audit Reports (CAR) for the year 2013-14 before filing of Tax Audit ReportsCMA Navneet Kumar Jain Any organization has to undergo many audits like

A Birds eye view of Advance tax provisions embedded under Income-tax Act, 1961

Posted by Pooja jain 16 August 2014 44015 Views

What is advance tax? U/S 208 Advance tax shall be payable during a financial year in every case where the amount of such tax payable by the assessee during that year, as computed in accordance with the provisions. Who is liable to pay advance tax? &

Indirect Tax Impact - Tax Audit - AY 14-15

Posted by Madhukar N Hiregange 16 August 2014 56159 Views

Tax Audit Under IT Act. for AY 14-15 Indirect Tax ComplianceCA Madhukar N Hiregange & CA Roopa Nayak The tax audit under Income Tax has undergone a change. There are already a number of compliances which professionals felt was asking for

Do you want your Income Tax Refund? Use Right To Info

Posted by ANAND 14 August 2014 17475 Views

Do you want your Income Tax Refund? Use Right To Information Act 2005 The Right to Information Act, 2005(RTI) is a potent tool for tax payers to find solutions to their everyday problems. Unfortunately, most taxpayers & tax professionals have no

Re-assessment Jurisdiction of Assessing Officer

Posted by MOHIT JAIN 13 August 2014 4076 Views

Re-assessment Jurisdiction by Assessing Officer 1. Initiation of re-assessment proceedings (issue of notice u/s 148) should be strictly in accordance with the cumulative conditions stipulated in sections 147, 149 & 151 of Income Tax Act, 1961, ot

A Brief Guide to TDS

Posted by CA Kumar Kedia 07 August 2014 78934 Views

Govt. of India collects the tax basically by three modes, i.e. Self assessment, Advance Tax and one of them is TDS( i.e Tax deduction at source.Discussing in brief what exactly the TDS is? TDS is the tax which is deducted at the

DT Fundas - understanding of legislative system

Posted by Member (Account Deleted) 04 August 2014 8075 Views

let us understand our legislative system. Constitution of India is the supreme law of India. India has been further divided into 2 categories by constitution i.e. Central India (India as a whole) and Independent states (States). Parliament has been e

Black Money - Income Tax weapon of Search & Seizure becoming Stingless!

Posted by Guest 04 August 2014 24254 Views

Today, I intend to discuss the most powerful and intrusive tool of Search & Seizure that the Income Tax Department possesses. In fact, in general public perception, the Income Tax Department is better known for its 'raids' on corporate ho

Highlights of Budget Finance Bill 2014 Part IV (Section -I)

Posted by Member (Account Deleted) 30 July 2014 9613 Views

For Previous Articles :PART - IPART - IIPART - IIIPART - IV**Miscellaneous Provisions (section I) Income of Charitable Trust and Institution Section -11 & Section 12 Principal Commissioner or the Commissioner may also by a

Why & for whom Income Tax return Filing before 31st July is mandatory?

Posted by CA Umesh Sharma 29 July 2014 11619 Views

Karniti Part: 47Why & for whom Income Tax return Filing before 31st July is mandatory? Arjuna (Fictional Character): Krishna, 31st July 2014 is near and many taxpayers are hurrying up for filing income tax returns. What are the poin