Income Tax Articles

Sec 50C - A Double Edged Sword

Posted by CA Rashmi Ainapur 04 October 2013 20800 Views

SEC 50C A DOUBLE EDGED SWORD Sec 50 C of Income Tax Act was introduced by Finance Act 2002, with effect from 01-04-2003 i,e Assessment Year 2004-05. The main intention for introducing Sec 50 C was to curb the movement of unaccounted elemen

CBDT harsh on CA Faternity

Posted by CA Nitesh Kumar More 01 October 2013 28638 Views

CBDT Sub - Extension of submission of time for submitting TAR & ITR 7 reasons: Why should CBDT extend time

Karniti Part- IV: When a person feel guilty of paying less tax

Posted by CA Umesh Sharma 30 September 2013 7711 Views

Keeping the conversation between Lord Krishna and Arjuna as the foundation, we will learn certain basic financial and tax matter. Let us try to get answers to our questions in a bit different and joyful manner. The character of Arjuna will be played

51 Suggestions on EFilling of Tar and Return

Posted by CA Nitesh Kumar More 30 September 2013 9252 Views

1. Institution enjoying exemption u/s 10(23b) have to submit tar u/s 44ab A. Sec 10(23b) exempt income from business of a khadi udyog etc

House Rent Allowance - Rent Paid to Wife?

Posted by Nikhil Kaushik 30 September 2013 45218 Views

House Rent Allowance - Rent Paid to Wife??(My grandmother says in Hindi, "Salary is tankha - tan means body, kha means eat). Often my clients from industry ask my advice for reducing their tax incidence. Earning a monthly salary they often end up cou

Profit and Gain under presumptive basis vis-a-vis Section 115JB

Posted by CA Dhruva Kalamanji 27 September 2013 13788 Views

As the number of zero tax companies and companies paying marginal tax had grown, the Minimum Alternate Tax Provision has been inserted in the Income Tax Act. It was felt that va

Karniti Part III-Rush hours of E-Filing of Income Tax Audit

Posted by CA Umesh Sharma 24 September 2013 10491 Views

KARNITI PART - III Rush hours of E Filing of Income Tax Audit Report Keeping this conversation between Lord Krishna and Arjuna as the foundation we will learn certain basic financial and tax matter. Let us try to get answers to our question

Provident fund under the Head of Business or Profession

Posted by CA Dhruva Kalamanji 24 September 2013 21854 Views

In this particular article I wish to share some of my views about Provident Fund contribution by the Employer and Employee, its Taxability and deduction under the head of Business or Prof

Understanding Section 10 with latest case laws Part-III

Posted by Manish Kumar Agarwal 24 September 2013 29726 Views

The most important & disputed clause under section 10 is exemption allowed to STPI and SEZ under clause 10A, 10B & 10AA. However, from FY 2011-12, the exemption is no more allowed to STPI and EOU units, however continued to allowed to SEZ U

Karniti Part-2: Pay advance income Tax & relax

Posted by CA Umesh Sharma 17 September 2013 12569 Views

Keeping conversation between Lord Krishna and Arjuna as the foundation we will learn certain basic financial and tax matter. Let us try to get answers to our questions in a bit different and joyful manner. The character of Arjuna w