Income Tax Articles

Ready reference of case laws relevant for November 2015

CA Shishir Agrawal 01 September 2015 at 10:33

CA FINAL DIRECT TAX (Income Tax) Ready reference of case laws relevant for November 2015About Notes: The case laws are summarized from supplementary study material issued by The Institute of Chartered Accountants Of India for the Final Examination to

How to claim refund on tax paid

Anand Satyapanthi 01 September 2015 at 10:33

One of the most important reasons for filing tax return is to claim excess of tax paid to the government. Corporations and various institutions deduct tax at the time of paying wages or contract fees. However, not all the times the tax is owed to the

Insurance Planning and Tax Saving goes Hand-in-Hand

Anand Satyapanthi 24 August 2015 at 10:00

Planning ahead is not only crucial but also fetches tax benefits. Buying life insurance for example fetches tax deductions on premium paid and the maturity amount received is tax exempt under section 10 (10D). Not only this, the assesee also gets ded

Case Study: Is tax paid by employer on behalf of employee - exempt u/s. 10(10CC)?

CA Sukriti Jain 20 August 2015 at 10:22

A detailed analysis of Exemption under Section 10(10CC) alongwith the provisions of Section 17(2), 40(a)(v), 192(1A), 195A, 198, 199, 200 and 203 of the Income Tax Act, 1961. Highlighting the ruling under Sedco Forex International Drilling Inc. (2012

How to Fill Income tax return form - Tax consultant in India

Neeraj Sharma 19 August 2015 at 10:34

File your tax returns before August 31It�s time to pay more attention as the income tax department seeks more disclosures to catch tax evaders.THIS is the time of the year when people run around for filing their income tax return. This year the

Kabaddi between taxpayer and income tax! Enjoy it!

CA Umesh Sharma 17 August 2015 at 10:27

Karneeti Part 111 Kabaddi between taxpayer and income tax! Enjoy it! Arjuna (Fictional Character): Krishna, Nowadays interesting matches of Pro-Kabaddi are going on. This is the second year of Pro-Kabaddi Match Series. The game of kabaddi is gaining

Black Money (Undisclosed Foreign Income And Assets) and Imposition Of Tax Act, 2015

Atul Khurana 17 August 2015 at 10:26

In India, Black money refers to funds earned on the black market, on which income and other taxes have not been paid. But Indian Govt. took a very great step against the black money and a step to assess this income whether the income is located in In

Independence to small taxpayer if his profit is above 8%

CA Umesh Sharma 14 August 2015 at 11:39

Karneeti Part 110Independence in 8th Month, but for Small taxpayer if, its profit above 8%.Arjuna (Fictional Character): Krishna, Independence Day of our country is coming closer on 15th August. All citizen lives happily because of independence. Simi

How to compute HRA exemption

ESHA AGRAWAL 14 August 2015 at 11:38

What is House Rent Allowance? Employees generally receive a house rent allowance (HRA) from their employers. This is a part of the salary package, in accordance with the terms and conditions of employment. HRA is given to meet the cost of a rented h

Annual return on FLA

CA Vivek chaudhary 11 August 2015 at 10:21

Annual Return on FLA Introduction:FLA stands for foreign liabilities and assets. The filing of annual return on foreign liabilities and assets has been notified under Foreign Exchange and Management Act, 1999. It is mandatory for all Indian resident