Income Tax Articles

All you need to know about PAN

Dattatray Hanamant Pujari 04 February 2015 at 10:25

Permanent Account Number (PAN) is a ten-digit alphanumeric number, issued in the form of a laminated card, by the Income Tax Department, to any "person" who applies for it or to whom the department allots the number without an application.

Income tax slab rates of 24 years

CA ANKIT GUPTA 03 February 2015 at 10:54

INCOME TAX SLAB RATES FOR MALE ASSESSEEFROM ASSESSMENT YEAR 1992-1993 TO ASSESSMENT YEAR 2015-2016 Hello readers, I found many persons searching sites here and there for slab rates of some previous years, purchasing books for the purposae of making a

Bad Debts allowable under IT Act- An anaysis

Saurabh Maheshwari 03 February 2015 at 10:42

Hello friends!!! greetings of the day. Writing an article after a long time.In this article an attempt has been made to highlight the pros & cones with respect to allowance of bad debts under the I.T Act.Bad debts[Sec 36(1)(vii)-Allowed as deduc

Second Home: Problematic in Real life as well as in Income Tax?

CA Umesh Sharma 02 February 2015 at 10:18

Karneeti Part 74Second Home: Problematic in Real life as well as in Income Tax?Arjuna (Fictional Character): Krishna, Recently Reserve Bank has reduced the Repo Rate leading to reduction in the Rate of Housing Loan. It may be easier for

Investment in fixed deposits - Income tax deduction for Aam Aadmi

CA ANKIT GUPTA 31 January 2015 at 17:15

INVESTMENT IN FIXED DEPOSITS INCOME TAX DEDUCTION FOR AAM AADMIHello readers , Many of the assessees and their advisors which I came across have doubts regarding the claim for deduction under section 80C on Investments in term deposits with sc

All about form 15ca and 15cb

Manish Shashikant Savalkar 29 January 2015 at 18:31

1. Why Form 15CA? Form 15CA is a Declaration of Remitter and is used as a tool for collecting information in respect of payments which are chargeable to tax in the hands of recipient non-resident. This is start

Tax Glossary

gopal Santosh Darak 29 January 2015 at 11:05

To understand the subject of taxation very first of all we all have to understood the basic concepts relating to taxation just like we have to go through for driving rules before we learn to drive a Car or many times it ha

Income Tax Act - 1961 Sec 14A disallowance

CA Ram Bajaj 28 January 2015 at 10:53

Introduction 1. Section 14A was first inserted by the Finance Act, 2001. However, same was inserted with retrospective effect from 1-4-1962. The inserted section reads as under: '14A. Expenditure incurred in relation to income not includib

Enjoy the "Tax Parade" On Republic Day

CA Umesh Sharma 27 January 2015 at 11:16

Karniti Part 73Enjoy the Tax Parade On Republic DayArjuna (Fictional Character): Krishna, on 26th January, India celebrates its Republic Day. On this Republic Day the President of the United States of America Mr. Barack Obama wi

Tax Planning Under Section 80C

kunal 24 January 2015 at 17:35

Tax planning under section 80C (Chapter VIA) Investment avenuesIntroductionIn order to tax individuals on basis of their earnings (higher tax bracket for high income group and lower tax bracket for lower income group) income tax department le