Income Tax Articles

Frequently Asked Questions TDS on Non residents u/s.195 of Income tax act

CMA Ramesh Krishnan 22 December 2014 at 11:02

Introduction: Tax Deducted at Source (TDS) is the first way of collection of any taxes. Under Income tax also TDS is the very important tax collection method. TDS under

Transfer Pricing adjustment on Corporate guarantee

Rupesh Srivastava 19 December 2014 at 10:44

TP adjustment on Corporate guarantee 1. [TS-208-ITAT-2014(CHNY)-TP] Transfer of shares in subsidiary, by way of 'gift', to an overseas step down subsidiary (in Cayman Island), not taxable as capital gains u/s 45; Such transfer 'without an

TDS Rate on making Foreign Payment

CA. Amit Daga 16 December 2014 at 10:56

How to determine applicable TDS Rate on making Foreign Payment : TDS on foreign payments depends on two conditions. First, whether deductee provides a valid TRC or not? Second, whether deductee holds a valid PAN in India or not? Below is the matrix

Nobel Prize and other Indian Awards are Tax Free?

CA Umesh Sharma 15 December 2014 at 10:25

Karniti Part 67Nobel Prize and other Indian Awards are Tax Free?Arjuna (Fictional Character): Krishna, recently Indian resident Mr. Kailash Satyarthi received Nobel Peace Prize with Malala Yusufzai. This consists of a medal and approximately 6 crores

Online facility for response to outstanding IT demand

CA Chirag Chauhan 13 December 2014 at 13:16

Many a times there are Mis match between TDS shown in Form 16 / Form16A and actually deposited by Employer / Other party. However at the time of filing Income Tax Return the assessee claims full TDS as per TDS certificate received. Due to this at the

All about PAN

SANYAM ARORA 12 December 2014 at 13:32

Discussing the basics of PAN, the necessity to have a PAN, how to know your PAN, how to apply for PAN online and other relevant things about PAN.

Five rare benefits of filing regular 'Income Tax Returns'

F.S Dhiman 12 December 2014 at 13:32

What is the benefit of filing income tax return? this is the first question when a client ram into t

Modiji Appealed for "Make in India" But NRIs worried about "Tax in India"

CA Umesh Sharma 08 December 2014 at 11:12

KARNITI Part 66Modiji Appealed for "Make in India"But NRIs worried about "Tax in India"Arjuna (Fictional Character): Krishna, The tours across the world of Modiji after becoming the Prime Minister of India has become the topic of discussion for every

All about ITR-1 Sahaj

SANYAM ARORA 05 December 2014 at 10:52

Greetings of the day to all the members of CCI Family. I have written the following articles in the last one week, in case you have missed them you can check it out from here. Journey into stock market - BasicsJourney i

Foreign exchange fluctuation treatment in income tax

Gagan Deep Singh 02 December 2014 at 11:00

As we know todays world is dominated by globalization in which geographical boundaries of business houses has spread beyond its countries also. As a consequence of which, exchange fluctuation