Income Tax Articles

What is domestic transfer pricing?

Karan Khatri 27 March 2015 at 10:48

INTRODUCTIONApplicability of transfer pricing provisions was earlier limited to International Transactions only. With effect from 01.04.2013, the scope of Transfer Pricing provisions is extended to Specified Domestic Transactions and is

How many previous years Income Tax returns can be filed after due date?

CA Umesh Sharma 27 March 2015 at 10:47

Karneeti Part 81How many previous years Income Tax returns can be filed after due date? Lets remove confusion. Arjuna (Fictional Character): Krishna, just a few days are left for the end of financial year 2014-15. Some lethargic tax pa

International Tax - Case Law Analysis-2015: Series 1

CA Rohit Gupta 23 March 2015 at 10:37

International Tax Update: IndiaForeign Remittance: TDS u/s 195: Case Law Analysis 2015: Series 1Some of the important case laws published during 2015 pertaining to TDS u/s 195 and/or taxability of foreign companies/non-resident entities in respect of

Budget 2015 Direct taxes,Sukanya Samriddhi Gold Monetisation

Rajesh Kumar Gupta 19 March 2015 at 10:34

Budget 2015 and Direct Taxes with details of Sukanya Samriddhi and Gold Monetisation Scheme No change in the basic exemption limit and the tax rates of individuals. Slab of Income Rate of Income tax Upto Rs. 250,000 [Ba

GAAR Conundrum

Gagan Deep Singh 17 March 2015 at 10:36

When Budget 2015-16 was rolled out by our Honorable Finance Minister Mr. Arun Jaitley then plethora of flak faced by our Government from opposition and critics that this budget was pro-industrialists and anti-poor and in their argument they cited a

Interest income from India - Foreign Remittance - Taxation

CA Rohit Gupta 16 March 2015 at 16:41

International Tax UpdateInterest Income from India- Foreign Remittance- TDS u/s 195 A. Taxation as per Domestic Law:A.1. Definition of Interest2(28A) "interest" means interest payable in any manner in respect of any moneys borrowed or debt

How to exercise your taxes to ensure financial health

Sanjit Agarwal 11 March 2015 at 10:21

The Income Tax Act 1961 devotes an entire section to Income Tax Deductions available to Indian tax payers. If we take note of the deductions and invest in the right products at a regular pace, we will inculcate financial discipline that will go a lon

Guideline value on the sale of a property & exemption

Shrinivas (CA, LLB, CISA) 09 March 2015 at 10:25

Land, one of the wonderful gifts of nature is now an item subject to taxes when the land is transferred from one person to another. The next question in hand is, what is the amount on which the taxes are to be paid?Mr. ABC, who resided in Mumbai, sol

Consequence on default in TDS

SAMEER AHMED 09 March 2015 at 10:25

Here we will get to understand that what defaults are oftenly occurs in TDS and how we can prevent ourselves from the penalties and fines in TDS under section 201(1), 201(1A) and 234E of Income tax act 1961.If we do a bit

Place of effective management: Critical analysis

CA Rohit Gupta 07 March 2015 at 18:28

PLACE Of EFFECTIVE MANAGEMENT : Corporate Tax Residence in India: Analysis and Safeguards The India Budget,2015 has proposed the amendment of Section 6 of the Income Tax Act which alters the conditions under which a company is resident in India by in