Income Tax Articles

Bhaijaan, TDS se kar lo Pehchaan

CA Umesh Sharma 13 July 2015 at 10:45

Karneeti Part 106Bhaijaan, TDS se kar lo PehchaanArjuna (Fictional Character): Krishna, the festival of Eid is approaching. But the Taxpayers are in a rush of filing TDS returns. As the due date of TDS returns and the auspicious festival of Eid have

Section 80C simplified. (A summary view)

CA. AJAY PANCHARIA 13 July 2015 at 10:45

DEDUCTION UNDER SECTION 80 C F.Y. 2014-15(A.Y. 2015-16)(AN INVESTMENT LINKED DEDUCTION) 1. LIMIT:With effect from 01-04-2015 the maximum allowable limit is extended to Rs.150000 from the previous Rs.100000.2. MAJOR INVESTMENT AREAS: Followi

Filing ITR of AY 2015-16

CMA. CS. Sanjay Gupta 11 July 2015 at 11:16

Obligation to file Income Tax Return Every individual whose total income before allowing deductions under Chapter VI-A of the Income-tax Act 1961, exceeds the maximum amount which is not chargeable to income tax is obligated to furnish his return of

Pay as you earn scheme of advance tax

CA Kumar Kedia 08 July 2015 at 10:32

In today's Scenario, the collection of advance tax by Government of India amounts to a big share in the revenue of Indian Economy. Advance tax is paid in the year in which income is received. There

The ITR SAGA - The Who, when and what of the Annual Disclosure Exercise

Dhawal Jain 07 July 2015 at 10:58

�Income tax returns are the most imaginative fiction being written today. ~Herman Wouk (Pulitzer Prize-winning American author)��Taxes: Of life's two certainties, the only one for which you can get an automatic extension. ~Auth

Black Cloud & Black Money, will they come & rain in Country?

CA Umesh Sharma 06 July 2015 at 10:33

Karneeti Part 105Black Cloud & Black Money, will they come & rain in Country? Arjuna (Fictional Character): Krishna, at the time of arrival of monsoon season farmer keeps watch on the sky. Farmer thinks that will black cloud give rain. Simil

Summary: Black Money Rules

CA Pradeep Kumar Rajput 06 July 2015 at 10:32

Black Money (Undisclosed Foreign Income and Assets) and Imposition of Tax Rules, 2015.Notified rules are: Short Title and commencement. Definition. Fair Market Value. Tax Authorities. Notice of demand. Appeal to Commissioner(Appeals) Appeal to Appel

Tax calculator and new ITR

CA Chinmay Gangwal 03 July 2015 at 10:58

What is meant by Income Tax Return? Income Tax Return is a document file with the apex body of Income tax i.e. Central Board of Income Tax Department for reporting of their Income from salary,

All about TDS return

mansi goel 03 July 2015 at 10:57

So the due date for filing of TDS return for 1st quarter (Apr 15-Jun 15) is 15thJuly 2015 which is about to come. As TDS return is required to be submitted electronically in some cases which can be prepared with the help of return preparation util

Powers of the AO to re-open assessment u/s 148 are not un-abundant or luxuriant.

CA Pawan Maloo 03 July 2015 at 10:35

Powers of the AO to re-open assessment u/s 148 are not un-abundant or luxuriantSection 147 and 148 of Income Tax Act is a well designed weapon for the Income Tax Department empowering it to assess, re-assess or re-compute income, turnover etc. which