Finance Act, 2012 has inserted section 80CCG in the Income Tax Act, 1961 (the Act) with effect from Assessment Year 2013-14 (Current Financial Year 2012-13) to encourage new investors in the equity market. The details of the
Dear All, We are pleased to inform that the Ministry of Finance has decided to postpone the implementation of GAAR and shall be applicable from 1st April, 2016.
Centralised Processing of Statement of TDS Scheme, 2013 (Notification 3, Date of Issue 15-01-2013) Ministry of Finance has introduced the scheme for Centralised Processing of Statement of TDS on 15th January, 2013 in exercise of powe
Normally, a company is liable to pay tax on the income computed in accordance with the provisions of the Income-tax Act, 1961 but the profit and loss account of the company is prepared as per the provisions of the Companies Act, 1956. There were
Introduction: The Ministry of Finance had come out with General Anti Avoidance Agreement (GAAR) in this buget. But due to its opposition from many quarters especially the FIIs(Foreign Institutional Investors), Government formed a expert Com
XYZ is engaged in the business of real state development. In the normal course of business, it imports the various high quality equipment's and goods from outside India. Whether the title and ownership of the goods exported by exporter outside India,
The readers are informed in advance that the following article may appear bit lengthy but may contain important information, so kindly bear with the same. Everyone is waiting for the much discussed Direct Tax Code, but I have noticed some points
TAxation of non residents Who is a resident for tax purposes? (Section 6) INDIVIDUAL An individual is considered as a resident if he is in India for 182 days or more in a previous year OR in India for 365 days o
SEARCH & SURVEY-PROVISIONS & PROCEDURES-A BRIEF OVERVIEW Search & seizure-meaning of: Search, according to normal dictionary meaning, means to look out, to seek or to find something the presence of which is su
First of all Happy New Year to the readers and happy new tax benefits. 1. Every Family member to be an assessee: Every family member should be an income tax assessee to avoid clubbing provisions and avoid the gifting complications. 2. Prepare
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
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