Income Tax Articles

Is there a need to apply Fuzzy Logic in sec 44AB?

N.Srinivasan 26 October 2015 at 10:40

Sec 44AA of the Income tax Act stipulates about the compulsory maintenance of Accounts by Certain persons carrying on business or profession and return their income under the head �Profits & Gains of Business or Profession. What is the limi

Full Summary of Form 15CA & 15CB Requirements & relevant Provision

CA Manan Gupta 16 October 2015 at 11:07

Firstly to understand the provisions & needs of Form 15CA & 15CB, we have to understand the income Tax Act & Rules made behind the compliances and transactions required the compliances of Form 15CA & 15CB.1- Section 195(6)of Income

Differences between Income Computation and Disclosure Standard and Accounting Standard

rohitash rajpurohit 14 October 2015 at 10:39

Statement showing differences between Income Computation and Disclosure Standard and Accounting Standard ICDS corresponding to accounting Standards ICDS No. ICDS Corresponding to AS Applicability on JAL I

Otiose extension by CBDT: A puerile step

Harish Chander Bhatia 06 October 2015 at 10:51

WILL CBDT and its sycophants introspect and explain to their own consciences that why this foolishness to extend due date for filing of ITR/TAR after ending of statutory due date. What purpose it has served for them. Those who put the CBDT and MoF i

Form 3CD - A Detailed Analysis

Pranjul Mittal 03 October 2015 at 13:20

FORM NO. 3CD[See rule 6 G(2)]Statement of particulars required to be furnished under section 44AB of the Income Tax Act, 1961PART - A Name of the assesse(Here the name of the assesse is to be mentioned, and in case such audit is carried in respect of

Receipt without consideration (Gift) from Non-Relatives - A tool for tax planning

CA Preksha Choraria 28 September 2015 at 10:44

Any receipt without consideration or receipt with inadequate consideration from relatives (as defined under Income Tax Act) is not taxable. However, certain receipt without consideration or receipt with inadequate consideration even from non-relative

Basic about income tax department

CA Ram Bajaj 16 September 2015 at 10:51

Introduction � Income Tax Return, Audit is normally filled online at income tax department website. Herein I would like to discuss some basic knowledge about the working of income tax department. Generally, after become CA, it is very hard to g

Understanding of 44AB -Tax Audit

BHARAT PAUDEL 14 September 2015 at 10:15

Understanding of 44AB Tax AuditIntroductionThe main objects of any audit are : To certify to the correctness of the financial position as to shown in the Balance sheet, and the accompanying revenue statements, The detection of errors, The detection o

Gift (Receipt without Consideration) to Persons other than Individuals & Hindu Undivided Family

CA Preksha Choraria 12 September 2015 at 11:25

*What is Gift?In Layman�s language, gift is transfer of goods or property (movable or immovable) from one person to another without consideration. As per Income Tax Act, Receipt without consideration or Receipt with inadequate consideration, by

How to tackle with income tax notices

naveen 10 September 2015 at 14:04

Many of my family members & friends are receiving notices from Income tax department; usually any communication from the Income Tax department, especially receiving a notice from them, can send shivers down anyone's spine. A majority of the n