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Income Tax Articles


All about Gifts

Posted by G S Rao 16 April 2013 53836 Views

Introduction: Gifts are generally given by donors to show their love and affection. Sometimes gifts are used as a tool for tax planning. An attempt is made in this article to cover the essentials of a valid gift as per the provisions of the Transf



Loss on Reduction of share capital is allowable

Posted by Saurabh Maheshwari 12 April 2013 21404 Views

IN THE INCOME TAX APPELLATE TRIBUNAL MUMBAI SPECIAL BENCH B MUMBAI Date of Hearing: 16-08-2011 Date of Pronouncement: 30-09-2011 Bennett Coleman & Co. Ltd., Times of India Bldg., Dr. D. N. Road,



Buy Back of Shares: Bye Bye Mauritius

Posted by CA. Bikash Bogi 11 April 2013 16590 Views

Mauritius is always a favourite among tourists across the world. However, Mauritius is also famous among worldwide investors for their tax friendly environment. As per an estimate 40% of portfolio inflows in India are coming from Mauritius. Like M



Capital gain exemption by virtue of article 13(4)

Posted by Rupesh Srivastava 09 April 2013 11571 Views

Recently ITAT bench held that, Article 13(1) cannot be made applicable to the transfer of shares as assessee has not sold the immovable property or any rights directly attached to the immovable property. Assessee is a company incorporated under th



Understanding Section 10 with latest Case Laws Part - II

Posted by Manish Kumar Agarwal 03 April 2013 20322 Views

We had earlier discuss in detail about the concepts of exemption of section 10 along with various case laws earlier in part I. In case you want to refer, the part I, please click on the link below: http://taxbymanish.blogspot.in/



Requirement of PAN by Non-Residents & Tax Consequences

Posted by Deepak Agrawal 01 April 2013 62633 Views

NOTE ON REQUIREMENT OF PAN BY NON-RESIDENTS IN INDIA AND TAX CONSEQUENCES: The analysis of the requirement of PAN is made on the basis of following cases: I. Non resident is exempt from tax in India: II. Non resident is liable to ta



Disallowance by I.T. Dept. w.r.t. VAT Hawala Purchase Info

Posted by Krunal.J.Davda 29 March 2013 80908 Views

Date - 23/03/2013 IS IT FAIR TO DISALLOW PURCHASES BY THE I. T. DEPARTMENT , JUST ON THE BASIS OF HAWALA INFORMATION RECEIVED FROM THE SALES TAX DEPARTMENT ? Recently the Income Tax Department is sending Show Cause Notices to many Assessee&rsq



Revised Schedule VI

Posted by Kamal Garg 26 March 2013 64053 Views

Introduction Old Schedule VI had outlived its utility; Revised Schedule VI effective from 1st April, 2011; Being a statutory format its early adoption is not permitted; Revised Schedule VI has



Understanding Taxation of Salary with latest Case Laws

Posted by Manish Kumar Agarwal 26 March 2013 38506 Views

UNDERSTANDING TAXATION OF SALARY WITH LATEST CASE LAWS: The common people who earns his livehood by the way of employment requires to pay



TDS Provisions Applicability

Posted by Vandana Saluja 23 March 2013 151961 Views

TDS (Tax Deducted at Source on payment of interest (or any other service fees) to non Banking financial Companies and Public Financial Institutions. Non Banking Financial Institution A Non Banking financial Company is a company registered un




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