Income Tax Articles

Commandments of Tax Planning

Member (Account Deleted) 19 January 2011 at 16:04

1. Execution of Tax Planning: Execution of Tax planning should be such that the proposal should be applied with good conceptual knowledge of the facts. Tax Planning principles must be sound and also due care should be exercised in structuri

Infrastructure Bonds : whether worth to Invest ?

CMA. Subhash Kumar Jha 19 January 2011 at 11:46

Infrastructure Bonds : whether worth to Invest ? After the additional Rs. 20000 investment in Infrastructure Bonds are allowed as deduction under Section 80C, above the cap of Rs. 100,000/-, suddenly the tax payers see it as a brighter option to

Defective Return

CA CMA CS Ram Pavan Kumar Melam 18 January 2011 at 11:06

As per Section 139(9) where the Assessing Officer considers that the return of income furnished by the assessee is defective, he may intimate the defect to the assessee and give

FAQ on Payment of Tax

CA Sanat Pyne 12 January 2011 at 12:32

What are the new challans for the payment of Direct Taxes? The following new single copy challans have been introduced with effect from July 2005: Sr. No. Challan No.

FAQ on 26AS

CA Sanat Pyne 12 January 2011 at 12:11

1.What is Form 26AS? Form 26AS is a consolidated tax statement issued under Rule 31 AB of Income Tax Rules to PAN holders. This statement, with respect to a financial year, will include details of: a) tax deducted at source (TDS); b) tax collected a

Tax Benefits and your Dream Home

CA. GAURANG THAKKAR 12 January 2011 at 12:08

Tax Benefits and your Dream Home It is being well said that Roti, Kapda and Makan are the three basis necessities for which a common man is running during his entire life. As all three things are very much necessities and a common man could easil

FAQ's on Furnishing of TDS / TCS return

Aditya Maheshwari 10 January 2011 at 14:23

Furnishing of TDS/TCS return / statement 1. Where can I file my TDS/TCS return? You can file your TDS/TCS return at any of the TIN-FCs managed by NSDL. TIN-FCs are set up at specified locations across the country. Details are given in

General TDS FAQ

Gaurav Barmera 08 January 2011 at 13:35

1. What is annual e-TDS/TCS Return? Annual e-TDS/TCS return is the TDS return under section 206 of the Income Tax Act (prepared in Form Nos. 24, 26 or 27) or TCS return under section 206C of the Income Tax Act (prepared in Form No. 27E), which is

Taxation of E-Commerce Transactions

Manmohan ACA, CS 06 January 2011 at 12:24

TAXATION OF E-COMMERCE TRANSACTIONS WHAT IS E-COMMERCE? E-commerce or electronic commerce, in its widest sense, means consumer and business transactions conducted over a network, using computers and telecommunications. In other words, e-comm

Survey Operations U/s 133A of the Income Tax Act

Member (Account Deleted) 04 January 2011 at 11:59

Survey Operations U/s 133A of the Income Tax Act Surveys u/s 133A of the Income Tax act, 1961 are made by Income Tax Department regularly. Survey is different than search and seizure operation which is commonly known as income tax raid. But wh