CAclubindia Articles

NRIs CORNER - TAX FREE INCOME

CMA Gul S 11 September 2007 at 13:49

Income-Tax exemptions are a bonanza offered to NRIs but caution is required while enjoying these tax exemptions and one needs to " read between the lines " as the same are based on the residential status of an NRI under FERA1973 (FEMA1999) and the

REPATRIATION / REMITTANCE PACKAGES REPATRIATION / REMITTANCE PACKAGES

CMA Gul S 11 September 2007 at 13:47

For ages Non-Resident Ordinary accounts were balances in banks to be retained and utilized in India which earned nominal interest which was subject to much forgotten tax deduction at source at flat rate of 30%.Those days are gone and now Reserve Bank

Know tax breaks well before you home in on loan

CMA Gul S 11 September 2007 at 13:12

Against the backdrop of rising property prices & interest rates, borrowers need to be aware of the tax breaks offered by home loans. Tax breaks can be availed on both components of the loan installment - principal and interest. Tax benefits, in r

India, Mexico ink double tax avoidance treaty

CMA Gul S 11 September 2007 at 13:12

India on Monday inked an agreement with Mexico for the avoidance of double taxation and prevention of fiscal evasion with respect to taxes on income. The accord is to come into force on a date to be notified in due course. The double taxation avoidan

Wealth Tax Amendment

CMA Gul S 10 September 2007 at 22:42

Wealth-tax (First Amendment) Rules, 20077 August 07Wealth-tax (First Amendment) Rules, 2007 - Amendments in rule 4A, substitution of rule 4AA and Form DA; insertion of Form DAANotification No. 216/2007 [F. No. 142/11/2007-TPL], dated 7-8-2007In exerc

Basic Computer Troubleshooting Guide

Guest 08 September 2007 at 15:57

Basic Computer Troubleshooting Guide1. Don't panic.Relax. Take a breath. Many computer problems appear more serious than they really are.It may look like the computer has crashed and all your data is lost forever. But there are a host of problems tha

Inconsistencies in the TDS/TCS return

Admin 08 September 2007 at 15:48

Directorate of Income Tax (Systems) has sent letters todeductors giving the details of inconsistencies in the TDS/TCS returnfiled. The details pertain to the first three quarters of F.Y. 2006-07.The following explains the various possible problems in

Nil TDS return

RAJAN GUPTA 08 September 2007 at 11:19

If there is no deduction in a particular quarter, should I file the NIL etds statement?The answaaykarbhavan group er is no,The filing of a NIL statement is not mandatory.As per section 200(3)Any person deducting any sum on or after the 1st day of Apr

OFFICIAL WORD ON:IS NIL TDS RETURN MANDATORY

RAJAN GUPTA 08 September 2007 at 08:27

In my view its not mandatory,now dept has given some clarification on this subject,though not directly on this subject but while answering the FAQ on form 24 Q ,Q4,it has been made clear that nil etds statement is not mandatory. But return 24q q4 sho

Brass tack of Excise

Harish 07 September 2007 at 12:29

Brass Tacks of Excise Central Excise duty is an indirect levy and collection of tax on goods manufactured or produced in India. To levy any duty, tax etc it should be in accordance with the constitution of India. Entry 84 of Union List empowers the