Income Tax Articles

Section 80TTA and 80TTB : Deduction on Interest Income

Posted by Prajjwal Kaushik 23 May 2018 41481 Views

As per the existing provisions of the section 80TTA, there is a deduction up to Rs. 10,000 allowed to an assessee in respect to Interest Income from savings acc...

Tax planning done right!

Posted by Siddharth Goel 21 May 2018 11773 Views

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

Posted by CA Chetan Vispute 18 May 2018 133340 Views

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

Posted by PRAKASH AGARWAL 17 May 2018 14866 Views

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

Indian Tax implications on Walmart's acquisition of Flipkart

Posted by Arinjay 16 May 2018 26643 Views

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

Posted by CA. Siva Nagaraju 16 May 2018 22413 Views

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

Posted by CA Pradeep Kumar Rajput 14 May 2018 18589 Views

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

Posted by Saloni Gandhi 12 May 2018 122654 Views

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

Posted by CA. Siva Nagaraju 09 May 2018 10458 Views

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

Posted by CA PIYUSH KAPOOR 08 May 2018 41964 Views

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...