Income Tax Articles

Tone up the IT Act!!

Posted by CA Nikita 07 October 2007 3971 Views

The next Budget is some months away but already the air is rife with expectations, what with the Finance Minister announcing the arrival of a new income-tax code before end-2007. The Companies Bill, 1993 and the Companies Bill, 1997 flattered to dece

Receiving "GIFT" a costly affair????

Posted by CA. Rayan Sequeira 06 October 2007 10664 Views

Our ex-Miss Duniya, Mrs. Cashwarya Bachpan got a GIFT of Rs.25 crores from Mr. Amitaap Bachpan on the occasion of her wedding bells with the Dollywood heartthrob Kabhi-shake Bachpan. Bachpan family had already been in news due to the various notices

You can have the cake n eat it too..

Posted by CA. Rayan Sequeira 06 October 2007 4417 Views

How about getting bonus without having to pay up any tax on it? Sounds interesting. Wondering whether it can be possible? Perhaps, you have not heard of Bonus Stripping. What might sound, as Bonus extravaganza in layman's term is "Bonus Stripping" un

INCOME TAX ARTICLE

Posted by CA. Rayan Sequeira 06 October 2007 5970 Views

Wondering what this article is all about?? Creatures of nature & food featuring in an Income tax Article? Yes, This article is something about creatures and their food. Don't you people feel it's always a boredom to talk about law and sections? S

FILLING LOWER TDS? GET READY FOR A CALL FROM I-T

Posted by CA Nikita 04 October 2007 4157 Views

Individuals trying to evade taxes by getting a lower tax deducted at source may soon get a call from the tax collector. The finance ministry is planning to crack the whip on those trying to conceal their income and evade taxes through the system of t

MNCS GET TAX BREATHER ON ASSET SALE

Posted by Ravikumar.G 04 October 2007 4969 Views

Foreign companies selling assets in India could end up enjoying a concessional rate of capital gains tax of 10% even if these companies enjoy the foreign currency fluctuation benefit.This follows the ruling by the Authority for Advance Rulings (AAR)

Public Documents as 3rd party documents under the RTI Act

Posted by CA Nikita 02 October 2007 8538 Views

How can Public Documents under the Indian Evidence Act be treated as 3rd party documents under the RTI Act to deny its access-Rajib Gupta I was always under the impression that the laws are made to infuse discipline & serve the ends of justice &a

Cyprus: An Alternative Structuring route

Posted by Abhiroop 02 October 2007 5197 Views

Cyprus: An Alternative Structuring route Cyprus is emerging as one of the alternative jurisdictions for structuring of Investments and is fast emerging as one of the most favoured jurisdictions. The advantages that Cyprus offers are many to make

At Arm's Length - A Perspective of the Transfer Pricing Regulations in India

Posted by Abhiroop 02 October 2007 6259 Views

At Arm's Length - A Perspective of the Transfer Pricing Regulations in India The rapid globalization of the Indian economy has seen the entry of the multinationals into India and with it increasingly complex international transactions being entered

Depreciation on leasing

Posted by Ankit Dangayach 01 October 2007 7724 Views

Depreciation on leasing? An ageing puzzleUnder the Income Tax law, two most important conditions for tax depreciation claim pertain to ownership and usage of the asset. As is the case on any other contentious matter, history is replete with judicial