Income Tax Articles

Interview with tax audit report petitioners

CA Sudhir Halakhandi 11 September 2014 at 10:36

The Mid-year introduction of New formats of Tax audit reports and further extension of date of Tax audit report without extendin

Completing ITax Return without Completing Tax Audit Report

Mera Consultant 09 September 2014 at 10:21

The extension of date for obtaining and submitting the Tax Audit Report till 30th November 2014 for the Assessment Year 2014-15 without extending the due date to file the Return of Income has created many concerns in the minds of Chartered Accountant

Ganpati Bappa, take away old complicated laws and come with new simple laws next year

CA Umesh Sharma 08 September 2014 at 11:03

Karniti part 53GANPATI BAPPA, TAKE AWAY OLD COMPLICATED LAWS ANDCOME WITH NEW SIMPLE LAWS NEXT YEAR Arjuna (Fictional Character): Krishna, Today is Ananat chaturdashi. Devotees will end this joyful Ganesh festival by dissolving Idol of

Changes by Finance No.2 Act,2014 regarding charitable trust

tamanna 05 September 2014 at 10:48

A) Section 10 exemption benefit not allowable to trust registered u/s 12AA Now, the trusts or charitable organisations registered under section 12AA or has obtained registration u/s 12A as has been there earlier, are not eligible to claim exe

Exemption of leave travel allowance

CA Prashant Gupta 05 September 2014 at 10:48

Leave Travel Allowance or Leave Travel Concession is the allowance which is paid by company to its employees to meet expense of travelling within India. This is for employee and his family. This is tax free under se

Dear Vighnaharta, what should be first Income tax return or tax audit report?

CA Umesh Sharma 02 September 2014 at 11:09

Karniti Part 52 Dear Vighnaharta .., what should be first, Income tax return or Tax Audit report? Please remove the Vighna (complications) Arjuna (Fictional Character): Krishna, the festival of Lord of Wisdom Shri Ganesha is being celebrated

Deduction u/s 24(b), HRA exemption & interest capitalisation

CA Paras Dawar 01 September 2014 at 10:38

Assessee claim deduction of Interest on Housing Loan to acquire house property u/s 24(b) and simultaneously HRA exemption on rent paid (if he resides in property other than acquired). Further upon sale of said property, interest already claimed as de

Reasons for notice u/s 148 before filing of return u/s 148

CA Paras Dawar 01 September 2014 at 10:38

Assessee Can Claim Reasons For Issue Of Notice U/S 148 Before Filing Of Return U/S 148.Section 148 of the Income Tax Act, 1961 is possibly the most belligerent combat tank in the armory of Income Tax Department. This tank has been further strengthene

International Taxation- Beware of Vodafone Case

Paras mehra 30 August 2014 at 13:01

START-UPs BEWARE OF VODAFONE!By Paras Mehrawww.Quickcompany.inMr Ashish Ranjan, developer, started his business in Hong Kong. Since he was good at marketing, his business soon started generating profits. Ashish, through his Hong Kong Company e

Demand u/s 143 (1) by inc tax dept and rectification u/s 154

CA. Brijesh Baranwal 29 August 2014 at 10:36

Income Tax Return filing season for certain class of assessees including individuals not falling under tax audit provisions has just been over and by now the Income Tax Depar