Income Tax Articles

Circulars not binding on the Assessee - A Practical Analysis

Saurabh Maheshwari 19 October 2012 at 11:02

HI! Friends and respected seniors, greetings of the day to all of you. Introduction- The revenue Departments have been empowered to issue circulars to clarify the position of law and these circulars are binding on the department(except CIT Appeals

Time-Time ki Baat Hai - Part II

Prof. Bajaj 12 October 2012 at 12:08

Hey Niraj, am back to seek your help again said Uncle Shrikant to his nephew Niraj Desai. Completely my pleasure uncle, please tell me, how can I be of help to you. Said Niraj Shrikant: As you know, my younger son, Aaka

Provisions relating to Certain Income of Non Residents

S Jananikrishna 08 October 2012 at 11:54

Hi all, I would like discuss some provisions relating to Non Residents. Often we come across, the following incomes of Non Resident for filing return of Income under the Income Tax Act 1961: a) Investment Income and, b) Long Term Capital Gain Firs

Interest u/s 234A, 234B and 234C

Tony John 08 October 2012 at 11:54

Interest u/s 234A, 234B and 234C. Know how much interest required to be paid if delay in filing of tax returns, delay in payment of Advance Tax and deferment of Advance Tax.

Primer on Belated Returns

K Srinivas, CMA CS 21 September 2012 at 10:38

Now that the extended last date for filing your Income tax returns for the year 2011-2012 is over on 31st August 2012 , what options do people who have missed the deadline have? How about filing the returns now after the due date? Here are the det

Tax deduction at source: An Introduction

Tony John 19 September 2012 at 12:59

Introduction Tax is one of the major sources of revenue for the government of India, which is primarily utilized for meeting various obligations it has towards the people like education, infrastructure, defence and so on. Income tax turns out to

Importance of Income tax Module for IPCC Students

Abhimanyu Bind 17 September 2012 at 12:32

Hello friends, Hope all are busy in revisions and few of you have just started preparing for exams. Okay, now let discuss the title I have given for this article. How, are you preparing your INCOME TAX paper?? Have you read institute's income

Recent ruling on Capital Gains as reported

Rupesh Srivastava 13 September 2012 at 12:22

1. S. 54F: Capital Gains Investment in residential house- Exemption Investment in four 4 flats Held that exemption allowed as requirement of assessee family met-out only by enlarging residential unit by merging 4 flats and th

Landmark ruling on Sec 14A-Updated as on 11th Sep

Rupesh Srivastava 12 September 2012 at 11:45

S. . 14A provides for the disallowance of expenses incurred in relation to the income, which does not form part of the total income of the assessee. 14A. [(1)] For the purposes of computing the total income under this Chapter, no deduction shall be

Report of Expert Committee on General Anti Avoidance Rules

Hiral Raja 10 September 2012 at 14:08

Honble Prime Minister had constituted an Expert Committee on General Anti Avoidance Rules (GAAR) to undertake stakeholders consultations for finalization of guidelines to ensure greater clarity on GAAR issues. The Expert Committee af