Income Tax Articles

Tax planning done right!

Siddharth Goel 21 May 2018 at 11:06

Our 'beloved' ICAI defines Tax Planning as 'an arrangement of one's financial affairs in such a way that, without violating in any way

Cash transaction in income tax 40Aa(3) vs. 269SS/T vs. 269ST

CA Chetan Vispute 18 May 2018 at 11:25

https://youtu.be/TImUKdTmoEMSection 269ST:Prohibits receipt of an amount of Rs. 2 lakh or more by a person,In aggregate from a person in a day; orIn respect of ..

Section 2(22)(e) of the Income Tax Act, 1961 - Last word yet to be said

PRAKASH AGARWAL 17 May 2018 at 11:16

Prakash Agarwal, B.Com (H), FCA, Managing Partner of Agarwal Prakash & Co.,

Indian Tax implications on Walmart's acquisition of Flipkart

Arinjay 16 May 2018 at 14:11

In what is termed as the largest e-commerce deal in the world, Walmart has finally announced the acquisition of Flipkart. Based on the news report, it seems that the acquisition has been made of shares of the Singapore parent of the Indian entity fro

Changes in ITR Forms for AY 2018-19

CA. Siva Nagaraju 16 May 2018 at 11:18

Important changes or additional disclosures brought out in new set of ITR forms released by Income tax department for AY 2018-19 Sl. No ITR Form..

New ITR IV: 10 new additional reporting requirements

CA Pradeep Kumar Rajput 14 May 2018 at 11:00

Recently the government has notified the new ITR IV forms for the current year filing. like any other time, this time too the ITR IV comes with the series of ne..

Section 9 : Income deemed to accrue or arise in India

Saloni Gandhi 12 May 2018 at 13:11

Section 9 of Income Tax Act , 1961The Indian Income-tax Act provides for levy of income-tax on the income of foreign companies and non-residents, but only to ..

Obtain non/lower Tax deduction certificate under Sec 197 for business

CA. Siva Nagaraju 09 May 2018 at 11:13

The provisions of Income-tax act impose an obligation on customer (i.e., recipient of service) to withhold certain portion of payment as tax deduction at source..

Cash gift and restriction on cash transaction

CA PIYUSH KAPOOR 08 May 2018 at 14:59

MEANING OF GIFT56(2)(vii) is applicable only when gifts are received by Individual and HUF. Donor or Donee may be Resident or non Resident. As per the Income Ta..

Lesser known Tax deductions which can be saved

Mridul Arora 04 May 2018 at 10:45

When it comes to tax-saving instruments, many of us stop with the Rs1.5 lakh deduction under Section 80C. But there is a lot more you can do to lower your taxes..