Income Tax Articles
Required to file ITR?
It is mandatory to file your Return of Income (ROI) and communicate your details of incomes earned to the Income Tax Department. The provisions relating to filing of ROI depends upon the status of taxpayer. The position in regard to this is described
Key point and analysis of final rule on range concept and use of multiple year data
Key Point and Analysis of Final Rules on �Range Concept� and �Multiple year data� in Transfer Pricing provisions IntroductionThe Income-tax Act provides for determination of income having regard to Arm�s Length Price (A
Way to Get Unclaimed Refund
There are many circumstance in which a person may forgot to claim the credit of Tax deducted at source or sometimes TDS has been lately credited in his account. This is specially truth of the cases where a person is either not supposed to file return
Is there a need to apply Fuzzy Logic in sec 44AB?
Sec 44AA of the Income tax Act stipulates about the compulsory maintenance of Accounts by Certain persons carrying on business or profession and return their income under the head �Profits & Gains of Business or Profession. What is the limi
Full Summary of Form 15CA & 15CB Requirements & relevant Provision
Firstly to understand the provisions & needs of Form 15CA & 15CB, we have to understand the income Tax Act & Rules made behind the compliances and transactions required the compliances of Form 15CA & 15CB.1- Section 195(6)of Income
Differences between Income Computation and Disclosure Standard and Accounting Standard
Statement showing differences between Income Computation and Disclosure Standard and Accounting Standard ICDS corresponding to accounting Standards ICDS No. ICDS Corresponding to AS Applicability on JAL I
Otiose extension by CBDT: A puerile step
WILL CBDT and its sycophants introspect and explain to their own consciences that why this foolishness to extend due date for filing of ITR/TAR after ending of statutory due date. What purpose it has served for them. Those who put the CBDT and MoF i
Form 3CD - A Detailed Analysis
FORM NO. 3CD[See rule 6 G(2)]Statement of particulars required to be furnished under section 44AB of the Income Tax Act, 1961PART - A Name of the assesse(Here the name of the assesse is to be mentioned, and in case such audit is carried in respect of
Receipt without consideration (Gift) from Non-Relatives - A tool for tax planning
Any receipt without consideration or receipt with inadequate consideration from relatives (as defined under Income Tax Act) is not taxable. However, certain receipt without consideration or receipt with inadequate consideration even from non-relative
Basic about income tax department
Introduction � Income Tax Return, Audit is normally filled online at income tax department website. Herein I would like to discuss some basic knowledge about the working of income tax department. Generally, after become CA, it is very hard to g
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