Income Tax Articles

How to maintain safe distance from the IT department !!

Posted by ROHIT 23 April 2016 35071 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 22890 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 180693 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 76696 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

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

Posted by CA CMA CS Ram Pavan Kumar Melam 07 April 2016 5434 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

Understanding of Compliance Query of Income Tax Department

Posted by Abhishek Ranjan Singh 06 April 2016 179470 Views

Income tax department has started sending notices (Compliance Query) to non-filers for the assessment year 2013-14 & onwards & are also using the said information to verify under-reporting of income. The income tax department has been capturing infor

Movies and Income Tax returns, what's the similarity?

Posted by CA Umesh Sharma 06 April 2016 10107 Views

Karneeti Part � 123 Movies and Income Tax returns, what�s the similarity?Arjun (Fictional character): Krishna, what are the changes made in the New Income Tax return forms (ITR forms) from 1st April 2016? Just like new sequels of films ha

Changes proposed in Form 15CB & CA - wef 1st Apr 2016

Posted by Dongre Arun 05 April 2016 34047 Views

Wef 1st Apr 2016, the provisions applicable to Income-Tax Rule 37BB read with Sec 195 is amended i.e. issuance of Form 15CB & CA. Following are the key points covered therein.The furnishing of information for payment to a non-resident, not being

Rectification and Issues Related to Rectification of Income Tax Return

Posted by vignesh 18 March 2016 33157 Views

Rectification and Issues Related to Rectification of Income Tax ReturnRectification has become easy since switchover to online but it has its own limitation. In this articleI will be covering almost every point related to rectification in terms of:&b

Sale of Immovable Property

Posted by ROHIT 16 March 2016 14532 Views

TAX Implications of Investing in Property Hello Everyone,The latest buzz these days is investing in the Property Market/ Real Estate. Bhai Paisa hai to Property me laga, is very common to hear even from someone who knows nothing about the churn of ev