Income Tax Articles

Measuring of aerial distance in income tax act

Mukesh Kuriyal 25 January 2016 at 11:02

DO YOU AGREE THAT CBDT HAS TAKEN RIGHT DECISION ON MEASUREMENT OF DISTANCE TO BE TAKEN AERIALLY AFTER ASSESSMENT YEAR 2014-15.Recently on Dated 06/Oct/2015 CBDT issued a circular regardingMeasurementofthe distance for the purpose of section 2(14)(iii

CBDT - Money makes the mare go

HARISH BHATIA 18 January 2016 at 10:52

CBDT, Yes, You rightly understood, it is a Central Board of Direct Taxes, or to say an elevated platform of persons, who are equipped with ineffective mechanism to regulate the income tax department of the country and eventually a safe route of escap

Mandatory Requirement of Quoting of PAN

CA Vivek chaudhary 11 January 2016 at 10:38

The Government is committed to curbing the circulation of black money and widening of tax base. Where the transactions exceeds the specified limit the income tax rules required quoting of Permanent Account Number (PAN) to collect information of certa

Black economy sources, cause and effect analysis with remedies

CA CMA CS Ram Pavan Kumar Melam 09 January 2016 at 12:46

The higher education sector, real estate deals, mining income etc., are major sources of India�s black economy (hereafter mentioned to as �informal economy / informal income / informal money�) and is nearly 75% of the size of its re

Section 35 of Income Tax Act - A Student's Guide

Tony John 07 January 2016 at 10:33

With roughly 4 months left for May 2016 exams, it is high time the students taking up the exams start their preparations. Direct taxes is arguably the most voluminous of all papers. And In Direct Taxes, Profits and Gains from Business and Professions

Taxation of Association of Persons

Tony John 31 December 2015 at 16:37

The income tax Act prescribes a specific mode for calculation of income and taxability in the case of Association of Persons.Let's first discuss what is an Association of Persons.An association of persons means an association in which two or m

Section 44AD of Income Tax Act - a Boon or Harm to the Country

Sundararajan S 30 December 2015 at 10:49

The history of accounting is thousands of years old and can be traced to ancient civilizations. The early deve

Dividends under Income Tax Act

Tony John 29 December 2015 at 10:19

Dividend in simple words, refers to the amount paid to shareholder in proportion to the shareholding in the company, out of the total sum so distributed.Let�s look at the meaning of dividend as per Income Tax Act. As per Section 2(22)

Place of Effective Management - a New concept of determining Tax residency

CA Ankit mangla 28 December 2015 at 16:14

Place of Effective Management- a New concept of determining Tax residencyIntroductionAs per OECD model Convention, For the purposes of this Convention, the term "resident of a Contracting State" means any person who, under the laws of that

Learn Section 139(1) with Santa Clause

Karan Khatri 28 December 2015 at 10:49

CA Student: Hi Santa, how are things? Got a minute? I�ve got my list here and I�d like to go over it with you if you don�t mind�Santa Clause: Well, I am busy. And besides, have you been good this year?CA Student: Well, see S