Income Tax Articles

Capital Gains: Few Basics that you should Know

Damandeep Singh 13 November 2015 at 14:48

Capital Gains is the 3rd Head of Income described under Income Tax Act, 1961 and provisions relating to it are given from Sec. 45 to 55A. Capital gains refers to profits & gains on transfer of any capital asset. Meaning of Capital AssetIn genera

How to File Income Tax Return of a Deceased?

Amit Bavishi 13 November 2015 at 10:48

Greeting to all of you!!! In this article, I will discuss the step by step process to file Income Tax Return (ITR) of a deceased. For better understanding I have uploaded Screenshots, however, I have strike through some portion of the image to keep t

Lease and Depreciation claim-An analysis

Yogesh Agarwal 07 November 2015 at 13:05

Lease and Depreciation claim-An analysisLease nowadays a method of using the tangible material or equipment like Machinery, Vehicles and in a nature of like assets. Instead of buying the same the lessee takes them on lease or say hire from the lessor

Required to file ITR?

Pulkit Agrawal 03 November 2015 at 10:53

It is mandatory to file your Return of Income (ROI) and communicate your details of incomes earned to the Income Tax Department. The provisions relating to filing of ROI depends upon the status of taxpayer. The position in regard to this is described

Key point and analysis of final rule on range concept and use of multiple year data

RAGHAV GUPTA 30 October 2015 at 10:42

Key Point and Analysis of Final Rules on �Range Concept� and �Multiple year data� in Transfer Pricing provisions IntroductionThe Income-tax Act provides for determination of income having regard to Arm�s Length Price (A

Way to Get Unclaimed Refund

CA CS Jainam Shah 28 October 2015 at 10:41

There are many circumstance in which a person may forgot to claim the credit of Tax deducted at source or sometimes TDS has been lately credited in his account. This is specially truth of the cases where a person is either not supposed to file return

Is there a need to apply Fuzzy Logic in sec 44AB?

N.Srinivasan 26 October 2015 at 10:40

Sec 44AA of the Income tax Act stipulates about the compulsory maintenance of Accounts by Certain persons carrying on business or profession and return their income under the head �Profits & Gains of Business or Profession. What is the limi

Full Summary of Form 15CA & 15CB Requirements & relevant Provision

CA Manan Gupta 16 October 2015 at 11:07

Firstly to understand the provisions & needs of Form 15CA & 15CB, we have to understand the income Tax Act & Rules made behind the compliances and transactions required the compliances of Form 15CA & 15CB.1- Section 195(6)of Income

Differences between Income Computation and Disclosure Standard and Accounting Standard

rohitash rajpurohit 14 October 2015 at 10:39

Statement showing differences between Income Computation and Disclosure Standard and Accounting Standard ICDS corresponding to accounting Standards ICDS No. ICDS Corresponding to AS Applicability on JAL I

Otiose extension by CBDT: A puerile step

Harish Chander Bhatia 06 October 2015 at 10:51

WILL CBDT and its sycophants introspect and explain to their own consciences that why this foolishness to extend due date for filing of ITR/TAR after ending of statutory due date. What purpose it has served for them. Those who put the CBDT and MoF i