Income Tax Articles

Hedging Loss on FC Forward Contract not Speculation Loss

Posted by Ajay Agrawal 17 June 2013 15141 Views

TAX FLASH: CIT v Friends And Friends Shipping Pvt Ltd. - Gujarat High Court S. 43(5): Loss on foreign currency forward contracts by a manufacturer/ exporter is a hedging loss and not a speculation loss FACTS OF T

Detailed analysis of new TDS Section 194IA

Posted by Manoj BG 12 June 2013 126138 Views

w.e.f 01/06/2013, new TDS section brought into effect for deduction of tax while making payment for purchase of immovable property other than agricultural land in rural area in India- Following are the conditions and operational mechanism- (1) T

A few aspects of applicability of Tax audit

Posted by CA CMA CS Ram Pavan Kumar Melam 12 June 2013 153024 Views

The voluntary tax compliance by the taxpayers considerably widened after the insertion of tax audit under section 44AB in the Income-tax Act, 1961 by the Finance Act, 1984. An important revision to Tax Aud

Transfer pricing precautions; Taxpayers need to take despite recent ITAT ruling

Posted by Rupesh Srivastava 10 June 2013 9965 Views

In an recent ITAT ruling reported in (2013) TaxCorp (TP) 5176 (ITAT), the ITAT said Transfer pricing rules do not apply in these circumstances (i) to an investm...

Financial Planning for Beginners

Posted by Prof. Bajaj 10 June 2013 13280 Views

June is the month, when many campus recruits start with their first job. Sameer Dahane was one of them. While he was excited of a new role, he was equally eager to get his salary so that he can splurge it. On a casual tea-time discussion with Kapil,

Income Tax Settlement Commission

Posted by TKKKKKK 07 June 2013 46532 Views

Tax Settlement Commission, a quasi judicial body, was set up under section 245B of Income-tax Act 1961. It has been set up as a result of recommendations made by Direct Taxes Enquiry Committee (Popularly known as W

TDS Certificates

Posted by CA. Brijesh Baranwal 05 June 2013 56448 Views

Friends, Once again the season of filing income tax returns has come. Government has notified almost all Income Tax Return (ITR) Forms barring a few, which may be notified in next few days. TDS certificate is one of the most require

TDS on Immovable Property

Posted by Bimal Jain 04 June 2013 46153 Views

The Finance Bill 2013 had proposed to introduce Section 194IA to the Income Tax Act, 1961 (the ITA) which provided that the purchaser of an immovable property worth over Rs. 50 lakhs (other than agricultural land) is required to deduct

TDS/TCS Rates Chart for A Y 2014-15

Posted by CA Pardeep Chanana 04 June 2013 126916 Views

TDS Rate Chart for A Y 2014-15 on Payments other than Salary and Wages Section No. Nature of Payment Threshold Total Payment During the Year Payment to Individual or H

Tax Residency Certificate

Posted by Deepak Agrawal 01 June 2013 286416 Views

Significance of Tax Residency Certificate (TRC) for claiming benefit provided under DTAA: Section 90 of the Income Tax Act empowers the Central Government to enter into an agreement with the Government of any foreign country or specified territory