Income Tax Articles

Clarification on taxability of withdrawal of accumulated balance in the provident fund

Posted by CA Dhruva Kalamanji 02 March 2016 8797 Views

The section under discussion:Section 10 (11)Section 10 (12)Rule 8 of Part A of the fourth scheduleExtract of above section from the Income Tax Act, 1961:10 (11) any payment from a provident fund to which tmhe Provident Funds Act, 1925 (19 of 1925), a

Amendments in TDS shall be substituted w.e.f 01.06.2016

Posted by SAMEER AHMED 02 March 2016 42766 Views

S.no Changes In following particulars Change in Existing provision Old Provision 1. In Sec 192A, �Payment of accumulated balance due to an employee� New Exemption Limit exceed t

Benefits granted to start-ups in the budget 2016

Posted by CA RITUL PATWA 01 March 2016 6881 Views

The budget for the F.Y.2016-17, has been presented by the H�ble Finance Minister, Sh. Arun Jaitely Ji on 29th February, 2016. With a view to promote the Start-Up culture in India and to develop entrepreneurship, the F.M. has added a Special Pro

Budget Highlights 2016

Posted by ROHIT 01 March 2016 10852 Views

Three major schemes have been introduced to help the underprivileged: Pradhan Mantri Fasal Yojana, Health insurance scheme, launching initiative to ensure LPG connection for BPL families. Focus to pass GST and bankruptcy c

Magic of Mauritius route and double taxation

Posted by Gagan Deep Singh 29 February 2016 8481 Views

IntroductionWhen an Indian hear the word "Mauritius" first thing come in mind is beautiful seashore, natural beauty , rivers and Honeymoon package but Mauritius is also famous for Tax haven. Placed 180th in the list of largest countries

New Guidelines for TDS and Income Tax Challan Correction

Posted by CA Vap Patel 29 February 2016 16174 Views

A much awaited changes in challan correction mechanism finally arrived to its destination. Now bank can themselves correct the Income Tax and TDS challans without any restriction. No need to visit even to income tax officeChallan Correction Mechanism

Tax basics for Freelancers and Startups

Posted by Anand Satyapanthi 29 February 2016 6062 Views

Freelancers and Startups are the people who decide to take charge of their life and turn their passion into profession. So, they don�t have any authority or readily organised structure of company to be a part of. The freelancers and startups ma

EPCG - Introduction and Procedure

Posted by Kalpesh Veer 24 February 2016 19770 Views

Introduction:- EPCG scheme enables a Indian manufacturer all service provided to obtain capital goods at nil rate of customs duty against commitment of export obligation. The objective is to facilitate import of capital goods producing quality goods

Your basic guide to interpret income tax notice

Posted by Anand Satyapanthi 22 February 2016 8331 Views

People visualise a red light blinking when they hear the term Income Tax Notice. What they don�t know is that receiving an Income Tax Notice is not as big deal as they make out of it. One needs to understand the reason behind receiving it and t

Save for retirement with NPS & save taxes

Posted by Anand Satyapanthi 18 February 2016 13519 Views

What is NPS?Prior to the year of 2004, the Indian citizens received Pension on Defined benefit basis. This meant that the employees would receive certain amount from government as they retire. They didn�t have to contribute anything for it.Howe