Income Tax Articles

Enjoy the "Tax Parade" On Republic Day

Posted by CA Umesh Sharma 27 January 2015 5984 Views

Karniti Part 73Enjoy the Tax Parade On Republic DayArjuna (Fictional Character): Krishna, on 26th January, India celebrates its Republic Day. On this Republic Day the President of the United States of America Mr. Barack Obama wi

Tax Planning Under Section 80C

Posted by kunal 24 January 2015 45190 Views

Tax planning under section 80C (Chapter VIA) Investment avenuesIntroductionIn order to tax individuals on basis of their earnings (higher tax bracket for high income group and lower tax bracket for lower income group) income tax department le

HRA: An effective tax planning tool

Posted by kunal 22 January 2015 26444 Views

IntroductionAccording to Section 14 of Income Tax Act, 1961, the income of a person is classified under various defined heads of income. Thus, for the purpose of computation of total income, the income is first categorized under the heads of income a

Lacuna in section 14A and rule 8D of IT Act 1961

Posted by CA HEMANT SHARMA 08 January 2015 20658 Views

Allowance of expenditure incurred in relation to exempted income during the assessment or otherwise would be prejudicial to the revenue thats why Section 14A was introduced by the Finance Act 200

Due date for filling Revise TDS Return

Posted by Pulkit Gupta 03 January 2015 129891 Views

On filling income tax return, one of the crucial part is to fill the TDS claim during the relevant financial year which should be match with TDS Credit reflects in Form 26AS.On non-matching of TDS claimed with TDS credit reflected in Form 26AS, deman

Treatment of MTM losses on forward exchange contract

Posted by Gagan Deep Singh 02 January 2015 37615 Views

IntroductionForward Exchange Contract is one of the foreign exchange derivatives (like future contracts, options, swaps, forward exchange contracts etc.) commonly used in India by business firms to protect itself against the risk of fluctuations in f

Process for PAN application for Non Resident in India

Posted by CA Chirag Chauhan 30 December 2014 15853 Views

Indian citizen residing abroad, foreign citizen and other than individual (like company or trust or firm etc.) who wants to apply for PAN should fill the PAN application 49AA. Basically PAN application for Non Resident can be bifurcated into three c

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