Income Tax Articles
DDT as I-T must be added to 'book profit' while computing MAT
CA Nikita 21 June 2007 at 07:41The increase in the dividend distribution tax (DDT) rate in the Finance Act 2007 was viewed sceptically by the industry. The levy of minimum alternate tax (MAT) on the IT sector, which is enjoying tax deduction under section 10A/10B of the Income Tax
Income Tax Rules providing tax exemption to charitable and religious entities modified
CA Nikita 20 June 2007 at 01:52June, 14th 2007Charitable and religious entities -Amendments to rules providing tax exemption The Ministry of Finance explained the relevant changes made to the Income Tax Rules 1962 that provided tax exemption to charitable and religious entities. T
Frequently asked question on e-TDS
Guest 09 June 2007 at 02:31FREQUENTLY ASKED QUESTION ON e-TDS1. What is annual e-TDS/TCS Return?Ans. Annual e-TDS/TCS return is the TDS return under section 206 of the Income Tax Act (prepared in Form Nos. 24, 26 or 27) or TCS return under section 206C of the Income Tax Act (p
What is Income Tax
Suraj Jain 12 March 2007 at 09:31An income tax is a tax levied on the financial income of persons, corporations, or other legal entities. Various income tax systems exist, with varying degrees of tax incidence. Income taxation can be progressive, proportional, or regressive. When th
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