Income Tax Articles

Understanding of Compliance Query of Income Tax Department

Posted by Abhishek Ranjan Singh 06 April 2016 179494 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 10137 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

Government notifies new income tax return forms for FY 2015-16

Posted by Anurag 28 June 2016 14013 Views

In briefThe Central Board of Direct Taxes has notified Income-tax return forms applicable for the financial year (FY) 2015-16 (assessment year 2016-17). There are no major changes in the forms compared to last year. The key amendments in the forms pe

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

Posted by Dongre Arun 05 April 2016 34074 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

Already retired? Then this is what you have to follow now!

Posted by CA ANKIT GUPTA 24 June 2016 7922 Views

If you are already retired, what you really need is a retirement solution. Let�s begin by discussing the uniqueness associated with building a portfolio for retirees.Firstly, the importance of capital preservation gets magnified manifold. The r

Deferred Tax Introduction

Posted by Shubham Gupta 24 June 2016 10736 Views

Deferred tax When we look out for the meaning for "Deferred�" it means to Postpone or delay. Similarly deferred tax is also liability to pay tax in future that we have postponed and have to reflect in our balance sheet.With coming of finan

Rectification and Issues Related to Rectification of Income Tax Return

Posted by vignesh 18 March 2016 33174 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 14552 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

Safe Harbour Rules

Posted by Varun Sharma 16 March 2016 8061 Views

Notification dated: 18.09.2013 Insertion of rule 10TA to 10TG to the Income Tax Rules, 1962 Section 92CB of the Income Tax Act, 1961 Rule: 10TB - Eligible Assessee

Ambit of Advance Tax

Posted by Abhijeet Deshpande 14 March 2016 15247 Views

What is Advance Tax?Advance Tax is where an assessee pays the government taxes on your income right throughout the year, i.e., payment of taxes within the Financial Year. It can be called as �Pay-as-you-Earn� scheme. Who shall pay Advance