Income Tax Articles

Clause wise discussion of form 3CD- Part 1

Posted by CA Mayank Khatri 22 June 2015 99211 Views

Clause 1- Name of the assessee Under clause (1) the name of the assessee whose accounts are beingaudited under section 44AB should be given. However, if the tax audit is inrespect of a branch, name of such branch should be mentioned along withthe nam

Taxation of share of AOP in the hands of companies

Posted by CA Santosh Dhumal 22 June 2015 26689 Views

Membership of AOP/ BOI. Section 67Aof Income Tax act 1961 deals with method of computing members share in income of AOP / BOI. As per the Sec67(A). (1) In computing the total income of an assessee who is a member of an association of persons or a bo

An opportunity to file six year ITR to claim TDS

Posted by Salil Arora 22 June 2015 49949 Views

An Assessee Can only file return for last 2 years and claim refund if any due and not beyond that. In case he missed to file return within prescribed timeline he has no choice other than to forget his refund claim.Income Tax Department in Latest circ

Computation of TDS in case employee is working under two employer in same year

Posted by Sensys Technologies 17 June 2015 29764 Views

Cases where an employee work under two employer in a single financial year Normally an employee is employed under employer during whole financial year and thus no problem arises in deduction of TDS from salary. In this case all information relating t

Hamari Aadhuri Kahani. Non receipt of Income Tax Refund!

Posted by CA Umesh Sharma 16 June 2015 22160 Views

Arjuna (Fictional Character): Income Tax Department has issued Circular No. 09/2015 dated 9th June, 2015 regarding income tax refund. Taxpayer wants Refund of excess of Income Tax paid

Requirement of Form 15CA & Form 15CB

Posted by srinivasan 13 June 2015 275902 Views

Analysis of Form 15CA & 15CB requirement for payments made for import of goods Back ground of the issueProvisions of Sec. 195(6) of the income tax act got amended by the Finance Act 2015 and it comes into force with effect from 1-6-2015. As per

Features of forthcoming release of TDS/TCS

Posted by VARUN BEDI 13 June 2015 23088 Views

It is proposed to release new version of NSDL e-Gov TDS/TCS � Return Preparation Utility (RPU) and File Validation Utility (FVU) tentatively on 19th June, 2015. Details of which are given below:- 1. Return Preparation Utility (RPU)�

ICDS as tax saving tool

Posted by Member (Account Deleted) 10 June 2015 23523 Views

IntroductionEver since CBDT notified the new Income Computation and Disclosure Standards for computation of taxable income, many debates and analysis have been done with professionals giving their respective conclusions. We h

Exemption u/s 54 for asset purchased in different name

Posted by CS Advocate Abhishek Goyal 09 June 2015 80419 Views

New asset purchased in another person' name or in joint name-whether exemption u/s 54 & 54F available? Query:

School reopens! Unresolved questions of its Fees in Income Tax

Posted by CA Umesh Sharma 08 June 2015 10458 Views

Karneeti Part 101School reopens! Unresolved questions of its Fees in Income Tax Arjuna (Fictional Character): Krishna, June is here, Schools / colleges soon will reopen. Therefore Parents are busy in their children�s school preparation. Today