Income Tax Articles

Weekly Finance and Tax News Bulletin by CAclubindia - 19th Dec to 26th Dec 2020

CCI Team 26 December 2020 at 11:48

In this article, we will discuss the major updates from the Finance and Tax Industry between 19th December and 26th December 2020

TDS u/s 192 - Payment of Salary

CA.R.S.KALRA 24 December 2020 at 15:19

All persons paying salary are responsible to deduct TDS on income chargeable under the head "Salary". In this article, we discuss all about TDS u/s 192 - Payment on Salary.

Presumptive Taxation in case of Partnership Firms and Applicability of Section 69C

CA.R.S.KALRA 23 December 2020 at 09:50

In this article, we discuss the provisions of Presumptive Taxation in case of Partnership Firms and Applicability of Section 69C in the case where the assessee has adopted the presumptive tax system.

Permanent Establishment under International Taxation

Venkat Raj 23 December 2020 at 09:50

This article will focus on a very vital topic in the International taxation field. There are different views regarding permanent establishment based on the OECD model and the UN model.

Introduction to TDS

CA.R.S.KALRA 22 December 2020 at 08:55

TDS works on the concept that every person making a specified type of payment to any person shall deduct tax at the rates prescribed in the IT Act at source and deposit the same into the government's account.

International Taxation: Taxation of Non-residents Shipping Business-Section 44B of the Act

CA Mehul Thakker 21 December 2020 at 17:53

In this article, CA Mehul Thakker explains the concept of International Taxation with regard to the Taxation of Non-residents Shipping Business in Section 44B of the Income Tax Act.

Amendment to Sec 194J w.e.f 01.04.20 - The 2% and 10% Conundrum

CA. Ankit Chandrakar 21 December 2020 at 09:56

In this article, we will understand the amendment in Section 194J w.e.f 1st April 2020 - Interpretation of "Fees for Technical Services" (FTS) and "Fees for Professional Services" (FPS)

Important Judicial Pronouncements on Presumptive Taxation

CA.R.S.KALRA 17 December 2020 at 15:09

In this article, we discuss all the Important Judicial Pronouncements on Presumptive Taxation under the Income Tax Act 1961.

Residential Status under the Income Tax Act

Venkat Raj 17 December 2020 at 10:06

Residential status is a vitally critical component under Income tax. It varies for various classes of assessees. The concept of residential status lies under Income tax and FEMA.

TDS & Advance Tax

CA.R.S.KALRA 17 December 2020 at 10:06

The persons having a turnover of more than Rs. 1 crore but less than Rs. 2 crores and declaring income u/s 44AD would be required to deduct TDS. Furthermore, the eligible assessee is now required to pay advance tax by 15th March of the financial year.