Income Tax Articles

ICDS as tax saving tool

Member (Account Deleted) 10 June 2015 at 11:06

IntroductionEver since CBDT notified the new Income Computation and Disclosure Standards for computation of taxable income, many debates and analysis have been done with professionals giving their respective conclusions. We h

Exemption u/s 54 for asset purchased in different name

CS Advocate Abhishek Goyal 09 June 2015 at 11:02

New asset purchased in another person' name or in joint name-whether exemption u/s 54 & 54F available? Query:

School reopens! Unresolved questions of its Fees in Income Tax

CA Umesh Sharma 08 June 2015 at 11:21

Karneeti Part 101School reopens! Unresolved questions of its Fees in Income Tax Arjuna (Fictional Character): Krishna, June is here, Schools / colleges soon will reopen. Therefore Parents are busy in their children�s school preparation. Today

TDS Amendments

Member (Account Deleted) 06 June 2015 at 11:35

IN FINANCE BILL 2015 SOME MAJOR AMENDMENTS REGARDING TDS HAVE BEEN MADE AS UNDER:Under the existing provisions contained in the proviso to clause (i) of sub-section (3) of the section 194A, income credited or paid in respect of time deposits with a b

How to save income tax on salary

CA ANKIT GUPTA 05 June 2015 at 10:43

The objective of this blog is to empower the employees with knowledge by providing Minimum Income Tax knowledge that would enable him to save Maximum Income Tax by restructuring their respective Salary or Cost to Comp

Simplified income tax return forms

Sensys Technologies 05 June 2015 at 10:43

A New Form ITR 2A is proposed which can be Filed by an Individual or HUF who does not have Capital Gains, Income from Business/Profession or Foreign Asset/Foreign Income. In Form ITR 2 and the New Form ITR 2A, the Main Form will not Contain more than

Income from salary

AAYUSHI BANSAL 01 June 2015 at 11:00

INCOME FROM SALARIESAny remuneration paid by an employer to his employee in consideration of his service is called Salary.It includes monetary value of those benefits and facilities provided by the employer which are taxable.Section 15, 16 and 17

TDS on withdrawal of EPF

Sandeep Jadhav 01 June 2015 at 11:00

TDS on withdrwal of EPF (Employee Provident Fund)U/s-192A with effect form 01st June 2015.The Finance Act 2015 has Inserted a new section 192A regarding the TDS on payment of accumulated provident fund balance due to an employee, The provision shall

The concept and tax effect of switching in mutual funds

Sahil Jolly 28 May 2015 at 10:24

Hi, almost all of us are aware of investing in Mutual Funds and their respective Tax effects.However, some areas still remain Grey for some and one such area is Switching in Mutual Funds.What is

TDS on Rent u/s 194I

CMA Poornima Madhava 27 May 2015 at 10:28

What is tax deduction at source?Persons responsible for making payment of income (rent), are responsible to deduct tax at source and deposit the same to the Government Treasury within the time stipulated.The recipient of the income (though s/he gets