Income Tax Articles

How to tackle with income tax notices

Posted by naveen 10 September 2015 34195 Views

Many of my family members & friends are receiving notices from Income tax department; usually any communication from the Income Tax department, especially receiving a notice from them, can send shivers down anyone's spine. A majority of the n

Understanding of various IT Assessments

Posted by CA Chinmay Gangwal 10 September 2015 22766 Views

What is meant by Assessment? Assessment defined as �Assessment Includes Re- Assessment and checking return of income for confirming its correctness�.

Mistakes to be avoided while filing an ITR

Posted by CA ANKIT GUPTA 06 September 2015 21877 Views

1. Forget Sending ITR V to Income Tax DepartmentEvery Tax Payer is required to send a duly signed copy of ITR V form to Income Tax department within 120 days of e filing an Income Tax Return at

Black Money (Undisclosed Foreign Income and Assets ) and Imposition of Tax Act 2015

Posted by CA Sripriya K 04 September 2015 14248 Views

1. What is this new Act all about ?Flight of money representing undisclosed incomes and asset creation abroad has been a perennial source of concern. As a one time measure to combat, control and bring to tax such black moneys, the Indian governmen

A complete guide to NRI tax implications

Posted by naveen 04 September 2015 27759 Views

RETURNING INDIANSA returning NRI should know and understand various aspects of Foreign Exchange Regulations (FEMA), Indian Taxation and Banking Regulations in order to rearrange his financial affairs in India and outside India.FOREIGN EXCHANE MANAGEM

Less time more load, still done with ITR upload

Posted by R B Sharma 01 September 2015 12588 Views

Arjuna (Fictional Character): Krishna, recently everyone has celebrated the festival of Raksha Bandhan along with that many Taxpayers have filed Income Tax Returns. Krishna please explain, what difficulties arise while filling Income Tax Returns, wha

Ready reference of case laws relevant for November 2015

Posted by CA Shishir Agrawal 28 June 2016 16299 Views

CA FINAL DIRECT TAX (Income Tax) Ready reference of case laws relevant for November 2015About Notes: The case laws are summarized from supplementary study material issued by The Institute of Chartered Accountants Of India for the Final Examination to

How to claim refund on tax paid

Posted by Anand Satyapanthi 01 September 2015 13622 Views

One of the most important reasons for filing tax return is to claim excess of tax paid to the government. Corporations and various institutions deduct tax at the time of paying wages or contract fees. However, not all the times the tax is owed to the

Insurance Planning and Tax Saving goes Hand-in-Hand

Posted by Anand Satyapanthi 24 August 2015 6467 Views

Planning ahead is not only crucial but also fetches tax benefits. Buying life insurance for example fetches tax deductions on premium paid and the maturity amount received is tax exempt under section 10 (10D). Not only this, the assesee also gets ded

Case Study: Is tax paid by employer on behalf of employee - exempt u/s. 10(10CC)?

Posted by CA Sukriti Jain 20 August 2015 23624 Views

A detailed analysis of Exemption under Section 10(10CC) alongwith the provisions of Section 17(2), 40(a)(v), 192(1A), 195A, 198, 199, 200 and 203 of the Income Tax Act, 1961. Highlighting the ruling under Sedco Forex International Drilling Inc. (2012