Income Tax Articles

Role of Dividend Tax in Achieving the Essence of the Budget

P.R. Sethuraman 28 December 2020 at 13:17

In this article, we discuss various changes that must be implemented in order to achieve the essence of the budget. One among them is the introduction of dividend Tax for the reasons mentioned in this article.

Points to be considered while doing Tax Audit in Tally Software

CA Kushwanth AVSR 28 December 2020 at 10:51

Among the softwares that are used for the preparation of books of accounts, Tally Software is widely used. In this article, we will discuss some important points that must be considered while doing a Tax Audit in the Tally Software.

CBIC appoints Jan 1, 2021, as date on which various sections of Finance Act, 2020 shall come into force

Bimal Jain 26 December 2020 at 16:13

The CBIC vide Notification No. 92/2020- Central Tax dated December 22, 2020, appointed January 1, 2021, as the date on which the following sections of the Finance Act, 2020 shall come into force.

International Taxation: Source Rule of Taxation

CA Mehul Thakker 26 December 2020 at 15:08

Section 9 of the Income Tax Act is a deeming fiction. This section provides that in certain situations, the income is deemed to accrue or arise in India despite fact that the actual place of accrual is outside India.

All About Provision of Section 56(2)(X) of Income Tax Act, 1961

Safder Alam 26 December 2020 at 11:58

Over a period of time, the Goi has time to time amended these provisions. Before 2017, Gift was taxable in hands of Individual, HUF, Firm and Closely held Company at tax is levied at the rates prescribed by Finance Act.

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.