Income Tax Articles

Difference Between ITR 4S or SUGAM and ITR 4

Prashant Gupta 02 July 2015 at 11:18

Many Tax payers who are business owners or are professionals remain unsure about whether they need to file their Income Tax Return using form ITR 4 or ITR-4S (or SUGAM). So, here is mentioned information to understand the applicability of ITR 4 &

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

CA Pawan Maloo 02 July 2015 at 11:18

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

Importance of other laws in tax planning

Paras mehra 02 July 2015 at 11:17

PERSONAL INCOME TAX: IMPORTANCE OF OTHER LAWS IN TAX PLANNING – HERE IS EXPLAINED HOW?IntroductionTax laws are getting complex day by day and also scope for simple tax planning is also getting narrower day by day. In this dynamic environment, k

Real Estate Developers & section 43 CA

mohit mittal 30 June 2015 at 10:51

REAL ESTATE DEVELOPERS AND SECTION 43CA The provision was introduced in order to counter act the various decisions of high courts where it was held that provisions of Section 50C is not applicable when the seller holds the land or building or both as

Agriculture Income and Expenditure, etc more details asked in New ITR

CA Umesh Sharma 29 June 2015 at 11:05

Karneeti Part 104Agriculture Income and Expenditure, etc more details asked in New ITR.Arjuna (Fictional Character): Krishna, in last week Income Tax Department has issued forms for filling Income Tax Return for Financial Year 2014-15. Which are thes

Imp changes in ITR 1,2,2A and 4S

NAVIN AGICHA 27 June 2015 at 17:30

FEW IMPORTANT CHANGES IN ITR 1, ITR 2, ITR 2A AND ITR 4S IN AY 2015-16 AS NOTIFIED IN NOTIFICATION NUMBER 49/2015 DATED 22.06.15:- CBDT has vide Notification No. 49/2015 Dated 22.06.2015 notified Form ITR-1, ITR-2 and ITR-4S for Assessment Year 2015-

Section 44AE of the income tax act

MANSHI BAID 26 June 2015 at 10:29

SECTION 44AE OF THE INCOME TAXACT 1961INCOME IN CASE OF ASSEESSEE IS ENGAGED IN THE BUSINESS OF PLYING , HIRINGOR LEASING OF GOODS CARRIAGES Applicability : This section applies to all types of assesses whether resident or non-resident who are engage

Reason for introduction of TDS

nawin kumar kintali 26 June 2015 at 10:29

There is always a time gap between deriving of income and payment of tax there upon .The objective of introduction of the provision tax deduction at source is to reduce that time gap and also ensure the regular flow of funds to governmentDemerit by T

Procedure of re-assessment u/s 147

CA Pawan Maloo 25 June 2015 at 10:45

Assessment is a procedure adopted to determine the correctness of the income disclosed by the assessee and tax payable thereon. Than what is reassessment and why there is need of reassessment? Section 147 and 148 of