Income Tax Articles

Movies and Income Tax returns, what's the similarity?

CA Umesh Sharma 06 April 2016 at 11:01

Karneeti Part � 123 Movies and Income Tax returns, what�s the similarity?Arjun (Fictional character): Krishna, what are the changes made in the New Income Tax return forms (ITR forms) from 1st April 2016? Just like new sequels of films ha

Government notifies new income tax return forms for FY 2015-16

Anurag 06 April 2016 at 11:01

In briefThe Central Board of Direct Taxes has notified Income-tax return forms applicable for the financial year (FY) 2015-16 (assessment year 2016-17). There are no major changes in the forms compared to last year. The key amendments in the forms pe

Changes proposed in Form 15CB & CA - wef 1st Apr 2016

Dongre Arun 05 April 2016 at 11:02

Wef 1st Apr 2016, the provisions applicable to Income-Tax Rule 37BB read with Sec 195 is amended i.e. issuance of Form 15CB & CA. Following are the key points covered therein.The furnishing of information for payment to a non-resident, not being

Already retired? Then this is what you have to follow now!

CA ANKIT GUPTA 29 March 2016 at 11:44

If you are already retired, what you really need is a retirement solution. Let�s begin by discussing the uniqueness associated with building a portfolio for retirees.Firstly, the importance of capital preservation gets magnified manifold. The r

Deferred Tax Introduction

Shubham Gupta 29 March 2016 at 11:44

Deferred tax When we look out for the meaning for "Deferred�" it means to Postpone or delay. Similarly deferred tax is also liability to pay tax in future that we have postponed and have to reflect in our balance sheet.With coming of finan

Rectification and Issues Related to Rectification of Income Tax Return

vignesh 18 March 2016 at 10:46

Rectification and Issues Related to Rectification of Income Tax ReturnRectification has become easy since switchover to online but it has its own limitation. In this articleI will be covering almost every point related to rectification in terms of:&b

Sale of Immovable Property

ROHIT 16 March 2016 at 11:22

TAX Implications of Investing in Property Hello Everyone,The latest buzz these days is investing in the Property Market/ Real Estate. Bhai Paisa hai to Property me laga, is very common to hear even from someone who knows nothing about the churn of ev

Safe Harbour Rules

Varun Sharma 16 March 2016 at 11:22

Notification dated: 18.09.2013 Insertion of rule 10TA to 10TG to the Income Tax Rules, 1962 Section 92CB of the Income Tax Act, 1961 Rule: 10TB - Eligible Assessee

Ambit of Advance Tax

Abhijeet Deshpande 14 March 2016 at 11:31

What is Advance Tax?Advance Tax is where an assessee pays the government taxes on your income right throughout the year, i.e., payment of taxes within the Financial Year. It can be called as �Pay-as-you-Earn� scheme. Who shall pay Advance

Changes in the Finance Bill 2016

Himanshu Goel 10 March 2016 at 16:51

Rate of income tax in respect of income liable to tax for the assessment Year 2017-18The slab rate and rates of taxes are not changed for the Assessment year 2017-18. These are same as for the AY 2016-17, Which are as