Income Tax Articles

Surplus on sale of shares and securities- Capital Gains or Business Income

CA Ashutosh Khaitan 05 March 2016 at 11:37

Issue of taxability of surplus on sale of shares and securities � Capital Gains or Business Income � Instructions in order to reduce litigation � reg.1. Sub-section (14) of Section 2 of the Income-tax Act, 1961 (�Act�) d

Budget 2016-17- Income Tax & some other comments

Mahesh Kapasi 04 March 2016 at 11:34

Introduction: This year's overall �Union Budget is �just� like an election budget- trying to please more of �poor voters-nothing is wrong in it but schemes launched for them must be strictly

Clarification on taxability of withdrawal of accumulated balance in the provident fund

CA Dhruva Kalamanji 02 March 2016 at 10:39

The section under discussion:Section 10 (11)Section 10 (12)Rule 8 of Part A of the fourth scheduleExtract of above section from the Income Tax Act, 1961:10 (11) any payment from a provident fund to which tmhe Provident Funds Act, 1925 (19 of 1925), a

Amendments in TDS shall be substituted w.e.f 01.06.2016

SAMEER AHMED 02 March 2016 at 10:36

S.no Changes In following particulars Change in Existing provision Old Provision 1. In Sec 192A, �Payment of accumulated balance due to an employee� New Exemption Limit exceed t

Benefits granted to start-ups in the budget 2016

CA RITUL PATWA 01 March 2016 at 10:44

The budget for the F.Y.2016-17, has been presented by the H�ble Finance Minister, Sh. Arun Jaitely Ji on 29th February, 2016. With a view to promote the Start-Up culture in India and to develop entrepreneurship, the F.M. has added a Special Pro

Budget Highlights 2016

ROHIT 01 March 2016 at 10:44

Three major schemes have been introduced to help the underprivileged: Pradhan Mantri Fasal Yojana, Health insurance scheme, launching initiative to ensure LPG connection for BPL families. Focus to pass GST and bankruptcy c

Magic of Mauritius route and double taxation

Gagan Deep Singh 29 February 2016 at 10:20

IntroductionWhen an Indian hear the word "Mauritius" first thing come in mind is beautiful seashore, natural beauty , rivers and Honeymoon package but Mauritius is also famous for Tax haven. Placed 180th in the list of largest countries

New Guidelines for TDS and Income Tax Challan Correction

CA Vap Patel 29 February 2016 at 10:20

A much awaited changes in challan correction mechanism finally arrived to its destination. Now bank can themselves correct the Income Tax and TDS challans without any restriction. No need to visit even to income tax officeChallan Correction Mechanism

Tax basics for Freelancers and Startups

Anand Satyapanthi 29 February 2016 at 10:20

Freelancers and Startups are the people who decide to take charge of their life and turn their passion into profession. So, they don�t have any authority or readily organised structure of company to be a part of. The freelancers and startups ma

EPCG - Introduction and Procedure

Kalpesh Veer 24 February 2016 at 10:50

Introduction:- EPCG scheme enables a Indian manufacturer all service provided to obtain capital goods at nil rate of customs duty against commitment of export obligation. The objective is to facilitate import of capital goods producing quality goods