Income Tax Articles

TDS on withdrawal of EPF

Posted by Sandeep Jadhav 01 June 2015 22322 Views

TDS on withdrwal of EPF (Employee Provident Fund)U/s-192A with effect form 01st June 2015.The Finance Act 2015 has Inserted a new section 192A regarding the TDS on payment of accumulated provident fund balance due to an employee, The provision shall

The concept and tax effect of switching in mutual funds

Posted by Sahil Jolly 28 May 2015 7965 Views

Hi, almost all of us are aware of investing in Mutual Funds and their respective Tax effects.However, some areas still remain Grey for some and one such area is Switching in Mutual Funds.What is

TDS on Rent u/s 194I

Posted by CMA Poornima Madhava 27 May 2015 106321 Views

What is tax deduction at source?Persons responsible for making payment of income (rent), are responsible to deduct tax at source and deposit the same to the Government Treasury within the time stipulated.The recipient of the income (though s/he gets

Harsh Penalty for Property Transaction in Cash of Rs. 20,000 or more w.e.f. 1st June, 2015

Posted by CA Umesh Sharma 25 May 2015 43911 Views

Karneeti Part 90Harsh Penalty for Property Transaction in Cash of Rs. 20,000 or more w.e.f. 1st June, 2015 Arjuna (Fictional Character): Krishna, It is said that black money is used in the transactions of immovable properties. To restrict the use of

International taxation

Posted by CA. Atul Khurana 22 May 2015 20812 Views

International Tax is best regarded as the body of legal provisions of different countries that covers the tax aspects of cross - border transactions. It is concerned with Direc

Opening an account under Capital Gain Scheme 1988

Posted by Sahil Jolly 21 May 2015 8279 Views

Opening an account under Capital Gain Scheme 1988 You�ve had a Long Term Capital Gain under the respective Section(s) of the Income Tax Act. Now, you must be wondering as to how you will save yourself from the Tax liability arising as a result

Abolition of levy of wealth-tax under Wealth-tax Act, 1957

Posted by Sensys Technologies 21 May 2015 8134 Views

History of Wealth Tax ActWealth-tax Act was introduced w.e.f. 01.04.1957 on the recommendation of Prof. Nicholas Kaldor forachieving twin major objectives of reducing inequalities and helping the enforcement of Income-tax Act through cross checks.Acc

Fees u/s 234E held as constitutionally valid, will still missing

Posted by Sahil Jolly 19 May 2015 15527 Views

Fees u/s 234E held as constitutionally valid, will still missing�. Recently, in the case of Rashmikant Kundalia and another vs Union of India and others, the constitutional validity of the fees being charged u/s 234E for delay in filing TDS re

Beware of the side effects of TDS on deposits in Co-op banks

Posted by CA Umesh Sharma 18 May 2015 14878 Views

Karneeti Part 89 Beware of the side effects of TDS on the Interest of Deposits in Co-op. Banks w.e.f 1st June, 2015Arjuna (Fictional Character): Krishna, Income Tax Department has introduced the provision of TDS deduction on the Interest of Fixed Dep

Income computation & disclosure standards

Posted by Unnat Agarwal 18 May 2015 11798 Views

Introduction At present India is going through one of the major tax reforms. In last two budgets our Finance Minister had introduce lots of things to make our economy globalize. �Income Computation and Disclosure Standards is one of the parts o