Income Tax Articles
Real Estate Developers & section 43 CA
REAL ESTATE DEVELOPERS AND SECTION 43CA The provision was introduced in order to counter act the various decisions of high courts where it was held that provisions of Section 50C is not applicable when the seller holds the land or building or both as
Agriculture Income and Expenditure, etc more details asked in New ITR
Karneeti Part 104Agriculture Income and Expenditure, etc more details asked in New ITR.Arjuna (Fictional Character): Krishna, in last week Income Tax Department has issued forms for filling Income Tax Return for Financial Year 2014-15. Which are thes
Imp changes in ITR 1,2,2A and 4S
FEW IMPORTANT CHANGES IN ITR 1, ITR 2, ITR 2A AND ITR 4S IN AY 2015-16 AS NOTIFIED IN NOTIFICATION NUMBER 49/2015 DATED 22.06.15:- CBDT has vide Notification No. 49/2015 Dated 22.06.2015 notified Form ITR-1, ITR-2 and ITR-4S for Assessment Year 2015-
Section 44AE of the income tax act
SECTION 44AE OF THE INCOME TAXACT 1961INCOME IN CASE OF ASSEESSEE IS ENGAGED IN THE BUSINESS OF PLYING , HIRINGOR LEASING OF GOODS CARRIAGES Applicability : This section applies to all types of assesses whether resident or non-resident who are engage
Reason for introduction of TDS
There is always a time gap between deriving of income and payment of tax there upon .The objective of introduction of the provision tax deduction at source is to reduce that time gap and also ensure the regular flow of funds to governmentDemerit by T
Procedure of re-assessment u/s 147
Assessment is a procedure adopted to determine the correctness of the income disclosed by the assessee and tax payable thereon. Than what is reassessment and why there is need of reassessment? Section 147 and 148 of
All about ITR - 2A Form
1. Who can use this Return Form? This Return Form is to be used by an individual or a Hindu Undivided Family whose total income for the a
Clause wise dicussion of form 3cd- Part 2
Clause - 16 Amounts not credited to the profit and loss account, being,- the items falling within the scope of section 28; the proforma credits, drawbacks, refund of duty of customs or excise or service tax, or refund of sales tax or value added
Key changes in new ITR Forms for F.Y. 2015-2016
Scrutiny of refurbished return forms for Assessment year 2015-16 I. Introduction to New Rule 12The Rule 12 of the Income-tax Rules was amended vide Notification No. 41/2015, Dated 15-04-2015. The new ITR Forms 1,
Verification of ITR with Aadhar card introduced
Till now upon E - filing of Income Tax return, we use to send the acknowledgement copy to CPC Bangalore within 120 days by speed or registered post, many a times the acknowledgement copy of ITR does not reach the CPC Bangalore & people used to ge
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