Income Tax Articles
MAT in Simple Way
Friends, I Hav Tried To Present MAT in simple Way.1. Normally companies are maintaining two set of books of accounts.2. Some times income computed under income tax law will be zero or negative. In this situation the company will escape from payment o
e-tax payment faq
What is e-tax payment?Ans. This is a facility provided to the taxpayers to make income tax payments through internet using net-banking facility. Can I use this facility to pay income tax?Ans. You can, if; a) You have a bank account with net-banking f
Registration u/s 12A: New Procedure under Income Tax Act
The new provisions have removed the concept of perpetuity and have provided that the registration of even existing organizations registered u/s 12A and 12AA would be renewable after 5 years.
Place of effective management (POEM)
There has been change in section 6(3) regarding the determination of residential status of Company.
A Brief about Form 10A and 10AB as per new Law on Registration of Trust
Form 10A and 10AB has been prescribed in these new rules for the registration of the Trust U/s 12A & 80G and approval U/s 10(23C) sub-clause (iv) or (v) or (vi) or (via) & 35(1) sub-clause.
How Can You Effectively Manage NPAs?
Management of NPA (Non Performing Assets) - New suggestion - An old wine in new bottleRecently Mr. Piyush Goyal, Finance Minister, announced setting up of a co...
Taxability of Income in Absence of Article 15
IF A PERSON IS NON RESIDENT IN BOTH THE STATES! WHERE TO TAX THE INCOME?By Paras Mehrawww.Quickcompany.in I am Paras Mehra, a Chartered Accountant. Co-founder of Quickcompany.in Many external people seek advice from me, I have been only a start up in
Deductions under Section 57
The taxable income under the head 'Income from Other Sources' shall be computed after allowing deductions as provided in Section 57 of the Income Tax Act. Discussing such deductions in this article.
Section 71: Inter Head Set-Off Of Losses
A loss which could not be set off within the same head of income shall be allowed to be set off out of the income of any other head in the same AY, but subject to certain exceptions.
High-Value Financial Transactions tracked by the Income Tax Department
Discussing 10 high-value financial transactions that can bring you under the radar of the Income Tax Department. Let us get into the details and minimum transaction limits of these transactions.
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