Income Tax Articles
Mandatory Requirement of Quoting of PAN
The Government is committed to curbing the circulation of black money and widening of tax base. Where the transactions exceeds the specified limit the income tax rules required quoting of Permanent Account Number (PAN) to collect information of certa
Black economy sources, cause and effect analysis with remedies
The higher education sector, real estate deals, mining income etc., are major sources of India�s black economy (hereafter mentioned to as �informal economy / informal income / informal money�) and is nearly 75% of the size of its re
Section 35 of Income Tax Act - A Student's Guide
With roughly 4 months left for May 2016 exams, it is high time the students taking up the exams start their preparations. Direct taxes is arguably the most voluminous of all papers. And In Direct Taxes, Profits and Gains from Business and Professions
Section 44AD of Income Tax Act - a Boon or Harm to the Country
The history of accounting is thousands of years old and can be traced to ancient civilizations. The early deve
Dividends under Income Tax Act
Dividend in simple words, refers to the amount paid to shareholder in proportion to the shareholding in the company, out of the total sum so distributed.Let�s look at the meaning of dividend as per Income Tax Act. As per Section 2(22)
Place of Effective Management - a New concept of determining Tax residency
Place of Effective Management- a New concept of determining Tax residencyIntroductionAs per OECD model Convention, For the purposes of this Convention, the term "resident of a Contracting State" means any person who, under the laws of that
Learn Section 139(1) with Santa Clause
CA Student: Hi Santa, how are things? Got a minute? I�ve got my list here and I�d like to go over it with you if you don�t mind�Santa Clause: Well, I am busy. And besides, have you been good this year?CA Student: Well, see S
POEM - Redefining taxation of foreign arms managed from India
POEM � is the buzzword of corporates having subsidiaries outside India and foreign firms outsourcing high end critical functons to India . This concept is introduced to tax in India income which has been earned by foreign corporations managed
Concept of Business trust introduced by Finance act 2014-2015
IntroductionHon'ble Finance Minister introduced the concept of Business Trust. In India, Business Trust would operate as Real Estate Investment Trusts (REITs) and Infrastructure Investment Trusts (InvITs). Real Estate Investment Trusts (REITS) have b
Changes introduced in procedures related to furnishing of Form 15CA and 15CB
CBDT vide its notification no 93/2015 dated 16th December 2015 substituted the old rule 37BB with entirely new rule 37BB. The new rule 37BB incorporates the following procedures for furnishing of declarations on foreign payments. FURNISHING OF FORM 1
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