Income Tax Articles

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..

Income tax slab rates for the AY 2018-19

Susmita Dutta, CA , CPA 04 May 2018 at 10:45

1.Income Tax Rate for Individuals:1(i).Income tax slab rates for Individuals less than 60 years

Cheque dishonoured: A step-by-step guide for legal recourse

Avinash Jeevan Dsouza 03 May 2018 at 16:35

The dishonour of cheque is a criminal offence and is punishable by imprisonment up to two years or with monetary penalty or with both.Cheques are used in almost..

Triple Taxation under IT Act after introduction of sec 115BBDA

Manish Harchandani 26 April 2018 at 10:42

The implied policy of the Indian Government is to avoid double taxation on income from same source and DTAAs with various countries are model examples of this p..