Income Tax Articles

Budget Highlights 2016

ROHIT 01 March 2016 at 10:44

Three major schemes have been introduced to help the underprivileged: Pradhan Mantri Fasal Yojana, Health insurance scheme, launching initiative to ensure LPG connection for BPL families. Focus to pass GST and bankruptcy c

Magic of Mauritius route and double taxation

Gagan Deep Singh 29 February 2016 at 10:20

IntroductionWhen an Indian hear the word "Mauritius" first thing come in mind is beautiful seashore, natural beauty , rivers and Honeymoon package but Mauritius is also famous for Tax haven. Placed 180th in the list of largest countries

New Guidelines for TDS and Income Tax Challan Correction

CA Vap Patel 29 February 2016 at 10:20

A much awaited changes in challan correction mechanism finally arrived to its destination. Now bank can themselves correct the Income Tax and TDS challans without any restriction. No need to visit even to income tax officeChallan Correction Mechanism

Tax basics for Freelancers and Startups

Anand Satyapanthi 29 February 2016 at 10:20

Freelancers and Startups are the people who decide to take charge of their life and turn their passion into profession. So, they don�t have any authority or readily organised structure of company to be a part of. The freelancers and startups ma

EPCG - Introduction and Procedure

Kalpesh Veer 24 February 2016 at 10:50

Introduction:- EPCG scheme enables a Indian manufacturer all service provided to obtain capital goods at nil rate of customs duty against commitment of export obligation. The objective is to facilitate import of capital goods producing quality goods

Your basic guide to interpret income tax notice

Anand Satyapanthi 22 February 2016 at 10:59

People visualise a red light blinking when they hear the term Income Tax Notice. What they don�t know is that receiving an Income Tax Notice is not as big deal as they make out of it. One needs to understand the reason behind receiving it and t

Save for retirement with NPS & save taxes

Anand Satyapanthi 18 February 2016 at 11:07

What is NPS?Prior to the year of 2004, the Indian citizens received Pension on Defined benefit basis. This meant that the employees would receive certain amount from government as they retire. They didn�t have to contribute anything for it.Howe

What is Advance Tax and how to calculate and pay Advance Tax?

Anand Satyapanthi 15 February 2016 at 10:45

What is Advance Tax?Advance Tax is part payment of your tax liability before the end of the financial year. It is also called pay as you earn scheme where the income tax should be paid in the year in which the income is received.Who is required to pa

The Black Money (Undisclosed Foreign Income and Assets) and Imposition of Tax Act, 2015

chirag gupta 15 February 2016 at 10:43

This act deals with the problem of black money i.e. undisclosed foreign income & assets, procedure for dealing with such income and assets and to provide for imposition of tax on any undisclosed foreign income and asset held outside India and for

Complete Guide To Filing Appeals Before CIT(A)

CA Vap Patel 15 February 2016 at 10:36

(1) By 31st March, 2016, in addition to the numerous reopened assessments, Assessing Officers (AOs) shall finalise scrutiny assessments under section 143(3)/ 144 of the Income-tax Act, 1961 (the �Act�) for Assessment Year (AY) 2013-14, an