Income Tax Articles

Taxability of salaried individuals

Posted by Tony John 31 May 2016 13676 Views

SALARY AND TAXABILITY What is previous year?Previous year means financial year starting from 01 April and ending on 31st March. Eg. The current previous year is 2015-2016. What is Assessment Year?Every previous year shall have an assessment year. A

Treatment of Capital Gains arising on sale of Residential Property

Posted by Ajay Pradeep Bansal 30 May 2016 14520 Views

For all those persons who are buying residential properties and selling such residential properties at a later date a question

Era without black money

Posted by Mahendra Badjatya 14 November 2016 8390 Views

The money is money. Colour of money is the definition of tax law of each country. Where there is no income tax there is no colour of money and therefore there is no black money. In the sovereign country, taxation is must and therefore the chances of

Beware: tax evaders take bath in this "Kumbhmela" of income declaration scheme 2016 or else?

Posted by CA Umesh Sharma 25 May 2016 11229 Views

Arjuna(Fictional Character): Krishna, by taking a holy bath in Kumbhmela, a person purifies himself. Now the Income Tax Departmen

Assessment of HUF with perspective of important & recent cases

Posted by CA. Harsh Rathi 24 May 2016 12453 Views

Hindu Undivided Family(HUF) - A fresh perspective with important & recent case laws:Background:U/s 4 of the Income Tax Act, 1961 income tax is payable by �every person�. U/s 2(31), Person is defined to include a Hindu Undivided Family

Deferred tax analysis

Posted by Member (Account Deleted) 19 May 2016 53650 Views

The concept of Deferred Tax is not a simple to understand and many get confused while applying it in the books. So, we shall try to go through simple and lucid manner to understand the whole concept and its application in the books through e

New procedure to file TDS returns online w.ef. 01.05.16

Posted by CA. Ankit Chandrakar 10 May 2016 112239 Views

NEW PROCEDURE TO FILE TDS RETURNS ONLINE W.E.F. 01.05.16 REGISTRATION WITH EFILING WEBSITE � FOR TDS RETURN Log into �TRACES� with the details of the assessee whose return is to be filed. Click at �Register for E-filing�

Understanding turnover exemption u/s 10A of the IT act, 1961

Posted by Manish Kumar Agarwal 05 May 2016 10361 Views

In respect of claim of exemption u/s 10A, 10AA & 10B, still there is lot of confusion is there between taxpayer and the tax officer. Given below chart based on the latest judicial pronouncement will help to reduce such confusion. SN

All about Capital Gains

Posted by CA CMA CS Ram Pavan Kumar Melam 05 May 2016 15201 Views

Capital gains was first introduced in 1946 and was in operation only for a short period, that is, in respect of capital gains which arose during the period from 1st April, 1946 to 31st March, 1948. Later it was modified and reintroduced for the purpo

The nightmare called 194-IA

Posted by ROHIT 02 May 2016 24784 Views

Most of the people who were happy and proud with their achievement of buying their own house in the recent past are now sleepless, thanks to the provision, called Section 194-IA of the Income Tax Act 1961.Some people even came upto me to explain thei