Income Tax Articles

Mediclaim - Life Relief + Tax Relief

Posted by Rahul Poddar 08 January 2010 14191 Views

MEDICLAIM – Life Relief + Tax Relief Now-a-days people are so busy in their life that they forget the uncertainties with which they are surrounded; likewise they also forget to protect themselves from the outcome of such uncertainties. Let me

New Perquisite Valucation Rules for Salary

Posted by CA Pramod Jain 07 January 2010 38153 Views

New Perquisite Valucation Ruleso 15% of salary.if accommodation is owned by employer if accommodation is owned by employer• For government employees, the value fixed as per central /state government rules.• For other employees, the valuation will dep

A brief view on DT Code

Posted by Manikanta Raju CA,CWA,(CS) 06 January 2010 19097 Views

Introduction: One of the most critical drafts of Indian statutes was Income tax Act, 1961. In order to simplify the current tax structure government of India comes with a proposal of introduction of Direct Tax Code (DTC). The new Tax draft has given

The new Perquisites rule - Main changes - Summary

Posted by CA.Parsun Garg 24 December 2009 33904 Views

The new Perquisites rules have been notified and the main changes are under perks for Car/ Driver and for ESOP Schemes. The same have been summarized herein for quick reference. For specific conditions, explanations, etc. and other minor changes,1.

Applicability of Sec 40(a)(ia) on year end TDS provisions

Posted by Manikanta Raju CA,CWA,(CS) 22 December 2009 165458 Views

Introduction: One of the important aspect during the tax audit is whether payments made towards specified expenditure attracts disqualification u/s 40(a) (ia) and applicability of this section to provisions made at the year end and its implications.

Recourse available against deductiabilty of TDS u/s 194A

Posted by Manikanta Raju CA,CWA,(CS) 18 December 2009 18986 Views

This topic is relating to problems faced by General Insurance companies providing third party insurance:-In most of the cases the accident victim in road accidents are poor and road side people. They will receive money from insurance companies by way

A breif note on IT scrutiny

Posted by Manikanta Raju CA,CWA,(CS) 18 December 2009 35375 Views

The below mentioned article broadly covers all important aspects relating to scrutiny proceedings carried out u/s 143(2)/(3) of the Income Act 1961. What is a scrutiny? It is not possible to the Income Tax Department to make regular assessment of al

Clarifications to issues some of the issues relating to TDS:

Posted by CA Anand Sarda 17 December 2009 16190 Views

Clarifications to issues some of the issues relating to TDS: 1) Whether capitalization of interest payable attracts TDS U/S 194A?A) Yes, Capitalization of interest payable attracts the provisions of TDS. TDS is to be made on interest payment regardl

An overview of Section 194 J of Income Tax

Posted by Amol Gopal Kabra (CA,CS,DISA) 16 December 2009 104379 Views

Section 194 J – An overview (Effective 1.10.2009) Section 194J of the Income Tax Act, 1961 has the heading a “Fees for Professional and Technical Services”. However the Section covers the following categories 1. Fees for Profe

Section 194 C of Income Tax, An overwiew.

Posted by Amol Gopal Kabra (CA,CS,DISA) 15 December 2009 82860 Views

Section 194C - An overview (Effective 1.10.2009) Section 194C of Income Tax Act, 1961 covers “Payment to Contractors and Sub-contractors”. Even if the words contractors and sub-contractors are given, it also covers other types like works