Income Tax Articles

Filing ITR of AY 2015-16

Posted by CMA. CS. Sanjay Gupta 11 July 2015 51670 Views

Obligation to file Income Tax Return Every individual whose total income before allowing deductions under Chapter VI-A of the Income-tax Act 1961, exceeds the maximum amount which is not chargeable to income tax is obligated to furnish his return of

Pay as you earn scheme of advance tax

Posted by CA Kumar Kedia 08 July 2015 55980 Views

In today's Scenario, the collection of advance tax by Government of India amounts to a big share in the revenue of Indian Economy. Advance tax is paid in the year in which income is received. There

The ITR SAGA - The Who, when and what of the Annual Disclosure Exercise

Posted by Dhawal Jain 07 July 2015 5688 Views

�Income tax returns are the most imaginative fiction being written today. ~Herman Wouk (Pulitzer Prize-winning American author)��Taxes: Of life's two certainties, the only one for which you can get an automatic extension. ~Auth

Black Cloud & Black Money, will they come & rain in Country?

Posted by CA Umesh Sharma 06 July 2015 6216 Views

Karneeti Part 105Black Cloud & Black Money, will they come & rain in Country? Arjuna (Fictional Character): Krishna, at the time of arrival of monsoon season farmer keeps watch on the sky. Farmer thinks that will black cloud give rain. Simil

Summary: Black Money Rules

Posted by CA Pradeep Kumar Rajput 06 July 2015 8792 Views

Black Money (Undisclosed Foreign Income and Assets) and Imposition of Tax Rules, 2015.Notified rules are: Short Title and commencement. Definition. Fair Market Value. Tax Authorities. Notice of demand. Appeal to Commissioner(Appeals) Appeal to Appel

Tax calculator and new ITR

Posted by CA Chinmay Gangwal 03 July 2015 23570 Views

What is meant by Income Tax Return? Income Tax Return is a document file with the apex body of Income tax i.e. Central Board of Income Tax Department for reporting of their Income from salary,

Difference Between ITR 4S or SUGAM and ITR 4

Posted by Prashant Gupta 02 July 2015 26514 Views

Many Tax payers who are business owners or are professionals remain unsure about whether they need to file their Income Tax Return using form ITR 4 or ITR-4S (or SUGAM). So, here is mentioned information to understand the applicability of ITR 4 &

Powers of the AO to re-open assessment u/s 148 are not un-abundant or luxuriant

Posted by CA Pawan Maloo 02 July 2015 5997 Views

Powers of the AO to re-open assessment u/s 148 are not un-abundant or luxuriantSection 147 and 148 of Income Tax Act is a well designed weapon for the Income Tax Department empowering it to assess, re-assess or re-compute income, turnover etc. which

Importance of other laws in tax planning

Posted by Paras mehra 02 July 2015 6531 Views

PERSONAL INCOME TAX: IMPORTANCE OF OTHER LAWS IN TAX PLANNING – HERE IS EXPLAINED HOW?IntroductionTax laws are getting complex day by day and also scope for simple tax planning is also getting narrower day by day. In this dynamic environment, k

All about TDS return

Posted by mansi goel 03 July 2015 32853 Views

So the due date for filing of TDS return for 1st quarter (Apr 15-Jun 15) is 15thJuly 2015 which is about to come. As TDS return is required to be submitted electronically in some cases which can be prepared with the help of return preparation util