Income Tax Articles
New to income computation and disclosure standards (ICDS)? Here's what you need to know
INTRODUCTIONBackgroundSection-145(2) of Income tax Act, 1961 empowers Central Government to issue Income Computation and Disclosure Standards (ICDS).Key Features of ICDS Effective Date of ICDS is 01stApril, 2015e. AY: 2016-17 onwards. ICDS applicable
Bhaijaan, TDS se kar lo Pehchaan
Karneeti Part 106Bhaijaan, TDS se kar lo PehchaanArjuna (Fictional Character): Krishna, the festival of Eid is approaching. But the Taxpayers are in a rush of filing TDS returns. As the due date of TDS returns and the auspicious festival of Eid have
Section 80C simplified. (A summary view)
DEDUCTION UNDER SECTION 80 C F.Y. 2014-15(A.Y. 2015-16)(AN INVESTMENT LINKED DEDUCTION) 1. LIMIT:With effect from 01-04-2015 the maximum allowable limit is extended to Rs.150000 from the previous Rs.100000.2. MAJOR INVESTMENT AREAS: Followi
Filing ITR of AY 2015-16
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
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
�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?
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
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
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,
All about TDS return
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
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