Income Tax Articles

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 37614 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

$Interest Under Section 234A\B\C$

Interest Under Section 234A\B\C

Posted by CA Kumar Mukesh 29 December 2014 35689 Views

We all are aware that when the section 234A\B\C, but only few of us are able to compute accurate Interest under these section.The purpose of this article to cross verify the interest calculated by system against our manual workings. Some readers mayt

Benefits of recognition of Inhouse R & D Depart with DSIR

Posted by Utpal Mehta 29 December 2014 36999 Views

What is In-House R&D RecognitionThe Department of Scientific & Industrial Research (DSIR), which is under the Ministry of Science & Technology is operating a scheme for granting recognition and registration to in-house R&D set up of C

Sec. 36(1)(iii) and principle of commercial expediency

Posted by C.A. Mohit Mittal 24 December 2014 46108 Views

Section 36(1)(iii)- Principle of Commercial expediency As per Sec 36(1)(iii), Deduction shall be allowed for The amount of interest paid in respect of capital borrowed for the purposes of business or professionFor the purpose of claim

Benefits related to Research & Development expenses under Income Tax Act

Posted by CA Umesh Sharma 22 December 2014 13156 Views

KARNITI Part 68Benefits related to Research & Development expenses under Income Tax Act.Arjuna (Fictional Character): Krishna, ISRO succeeded in Mars mission by launching the largest rocket GSLV Mark III in space after lot of efforts and spending cro

Construction PE- Finer Aspects

Posted by MOHIT JAIN 22 December 2014 5530 Views

Article 5(3) of UN model provides for existence of construction PE as under;- A building site, a construction, assembly or installation project or supervisory activities in connection therewith, but only if such site, p

Frequently Asked Questions TDS on Non residents u/s.195 of Income tax act

Posted by CMA Ramesh Krishnan 22 December 2014 18683 Views

Introduction: Tax Deducted at Source (TDS) is the first way of collection of any taxes. Under Income tax also TDS is the very important tax collection method. TDS under

Transfer Pricing adjustment on Corporate guarantee

Posted by Rupesh Srivastava 19 December 2014 19350 Views

TP adjustment on Corporate guarantee 1. [TS-208-ITAT-2014(CHNY)-TP] Transfer of shares in subsidiary, by way of 'gift', to an overseas step down subsidiary (in Cayman Island), not taxable as capital gains u/s 45; Such transfer 'without an