Income Tax Articles



The objective of this document is to summarize all the updates of Income Tax (Notifications, Circulars, other amendments and updates) in one place. The same are being summarized below, along with our opinions on certain clarifications.

Posted in Income Tax |   3075 Views




In this article I am proposing an Income Tax Strategy that I feel will ultimately lead to the overall development of the country and promote an inclusive growth.

Posted in Income Tax  1 comments |   1470 Views




In this article, what points should be taken care off, while finalizing the books of accounts of the private limited company is explained

Posted in Income Tax  6 comments |   12010 Views




The article throws light on the tax rate on new manufacturing companies in India

Posted in Income Tax  3 comments |   2468 Views




Income Tax Slabs & Rates : A.Y 2020-21 [F.Y. 2019-20]

Posted in Income Tax  2 comments |   29697 Views



No deduction if return not filed

  sivadas chettoor    25 October 2019 at 11:04

There may be some hope for relief from the courts based on the 1955 circular of CBDT and the decision of the Supreme court in Goetze case but it appears to be very risky. Therefore the author would advise all the entities to file the return immediately before 31-10-2019 without going for risky adventurous legal battle.

Posted in Income Tax  3 comments |   8990 Views




As most of you are aware, from years this issue is bothering many vendors who are dealing with either the government or with governmental agencies. I researched..

Posted in Income Tax  6 comments |   10293 Views




Before going into the concept of notional loss arising out of Mark-to-Market on forward contract, let's brush up some important basic definitions relating to the above treatment.

Posted in Income Tax  4 comments |   2261 Views




With the introduction of sec 115BAA, domestic companies who are paying tax at the rate of 25% (or 30%) now have an option to pay tax at a lower rate through sec 115BAA. Any person who had opted for sec 115BAA being a domestic company will pay tax at the rate of 22% on its total income irrespective of its turnover during the previous year.

Posted in Income Tax  6 comments |   16673 Views




The listed companies would have to prepare the quarterly financial results for the quarter ended 30 September very soon, and hence the decision have to be taken by them as to the income tax rates they opt for.

Posted in Income Tax  2 comments |   3592 Views






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