Income Tax Articles

IDS 2016 - Some FAQs

NITIN GOYAL 18 July 2016 at 10:44

The Income Declaration Scheme, 2016 (hereinafter referred to as �the Scheme�) incorporated as Chapter IX of the Finance Act, 2016 provides an opport

IDS - A chance to turn black to white

CA Saurabh Singh 15 July 2016 at 10:46

The union government has launched its ambitious Income Declaration Scheme, 2016 (the scheme or IDS) as Chapter IX of the Finance Act, 2016. The scheme is effect..

Exemption on capital gains

Mukesh Kuriyal 12 July 2016 at 10:46

THIS IS FOR EXEMPTION ON CAPITAL GAINS UNDER SECTION 54

"Messi" likes mess up, in tax laws. Avoid it!

CA Umesh Sharma 12 July 2016 at 10:46

Arjuna (Fictional Character): Krishna, Football lovers know the missed penalty kick by famous football player Messi and its impact on him. Further he has been p..

Complexibility of TDS on Employees

CA Pradeep Garg 11 July 2016 at 10:43

TDS on Employees should be on flat rates like professionals

Meaning of Set off and carry forward of losses

KAVITHA M S 08 July 2016 at 10:46

As per Income Tax Act 1961, a Person as defined in Section 2(31) can set off and Carry forward the losses incurred. It has been updated till Budget 2018.

ITR-4S is a special case ITR, applicable for businesses where income is calculated on 'presumptive method'. In simple words the presumptive method lets you report your income as 8 per cent of your gross receipt

Start-up India : An Overview

Ajay Pradeep Bansal 06 July 2016 at 10:49

The Government of India has, vide Notification dated 17.02.2016, announced "Start up India" initiative for creating a conducive environment for Start ups in India.