Income Tax Articles

Fair, Lovely & Ugly From Jaitley's potli

Posted by CA Umesh Sharma 08 March 2016 9614 Views

Arjuna (Fictional Character): Krishna, Government has announced Budget on 29th February 2016 for the Year 2016-17. On this Various persons expressed their views. As every coin has two sides, likewise

Income declaration scheme 2016 - Salient Features

Posted by shivaji prasad bhimavarapu 05 March 2016 46216 Views

The finance minister has brought in one more opportunity to bring black money into books of accounts by announcing the "INCOME DECLARATION SCHEME 2016" in the Finance Bil

Term Insurance or Traditional Insurance

Posted by ROHIT 05 March 2016 6519 Views

Hello Everyone, As we have entered in the last month of our Financial Year, a handful of my friends would have their tax saving investments on place but the majority of my friends be it salaried or self-employed is gonna start head hunting for Tax Sa

Minimum Alternate Tax-In Most Simple manner

Posted by pawan tewari 05 March 2016 10823 Views

The concept of MAT was introduced under income tax act to tax companies having profit as per books and declaring dividends but have no significant taxable income because of exemptions, deductions, incentives and tax holidays available to them. The in

Surplus on sale of shares and securities- Capital Gains or Business Income

Posted by CA Ashutosh Khaitan 05 March 2016 5060 Views

Issue of taxability of surplus on sale of shares and securities � Capital Gains or Business Income � Instructions in order to reduce litigation � reg.1. Sub-section (14) of Section 2 of the Income-tax Act, 1961 (�Act�) d

Budget 2016-17- Income Tax & some other comments

Posted by Mahesh Kapasi 04 March 2016 7785 Views

Introduction: This year's overall �Union Budget is �just� like an election budget- trying to please more of �poor voters-nothing is wrong in it but schemes launched for them must be strictly

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 42767 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 6883 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 10855 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