Income Tax Articles

All about Form 15G/15H

Posted by CA Prateek Garg 02 May 2016 14333 Views

BACKGROUND�Chapter XVII � Collection and Recovery of Tax� of Income Tax Act 1961 provides for the various provisions related to deduction of tax at source. These provisions work as a tax collection mechanism. Apart from upfront coll

Income Tax Provision for Doctors

Posted by CA MOHIT SINGHAL 25 April 2016 28879 Views

Among the busiest of professionals, doctors have little time to learn about the latest tax law. Tax planning is often neglected in the crush of other obligations. Being India�s Top 10s income earners, they have need to give more attention to th

How to maintain safe distance from the IT department !!

Posted by ROHIT 23 April 2016 35094 Views

Do you want to keep an Arm�s Length Distance from the Income Tax Department?Obviously the Answer is YES !!! But the question here is HOW ???Here are a list of expenses/ investments, which at any point of time performed by you may invite undue a

Section 115JB of the income tax act

Posted by MANSHI BAID 21 April 2016 22919 Views

SECTION 115JB OF INCOME TAX ACT, 1961 SPECIAL PROVISION FOR PAYMENT OF TAX BY CERTAIN COMPANIES (AFTER BUDGET 2016) This section is nothing but the Minimum Tax that a company is required to pay. This section provides that in case the tax payable by a

Highlights of Section 194IA

Posted by CA Rohan jain 18 April 2016 180719 Views

Highlights of Section 194-IA (TDS On Sale/Purchase of IMMOVABLE PROPERTY)Crux :1.As per Finance Act of 2013, TDS is applicable on transfer of any Immovable Property(other than agricultural land), wherein the consideration of the property exceeds or i

Understanding tds on purchase of immovable property

Posted by Abhishek Ranjan Singh 18 April 2016 76711 Views

Understanding of Notice, Penalty, Late fees and Interest on TDS for Purchase of Immovable PropertyAs per Finance Act of 2013, TDS is applicable on transfer of Immovable property, wherein the consideration of the property exceed

What is Tax Deducted at Source?

Posted by Shubham Gupta 13 May 2023 7475 Views

For quick and efficient collection of taxes, the Income-tax Law has incorporated a system of deduction of tax at the point of generation of income. This system is called as �Tax Deducted at Source�, common

Section 44AD of the Income tax Act after Budget 16

Posted by MANSHI BAID 17 June 2016 32004 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

Taxation on Investors and Traders

Posted by Munim.in 17 June 2016 9269 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

Simplification of taxation law vis-a-vis progressive tax legislation

Posted by CA CMA CS Ram Pavan Kumar Melam 07 April 2016 5445 Views

The development of a nation is measured by Gross National Product (GNP) or Per Capital Real Income (PCRI). The above two are the economic indicators used to measure the economic development of a nation. There are non-economic indicators which are of