Income Tax Articles

Marry Your Way To Tax Planning

CA. Ankit Chandrakar 19 May 2014 at 12:08

WHAT IS AN HUF? The term Hindu Undivided Family is not defined in the Income Tax Act. It is defined under the Hindu Law as a family that consists of all persons lineally descended from a common ancestor,

Sec 87A-A small Rebate to Resident Individuals

CA Prashant Gupta 16 May 2014 at 12:40

Sec 87A- A small Rebate of income-tax to Resident Individuals.In Budget 2013 Finance Minister Mr. P. Chidambaram choose a middle way to give benefit to small tax payers and save a big amount of tax for tax revenue by neglected bigger slab tax payers

Service PE- Centrica India Offshore Judgement- Anlaysed

MOHIT JAIN 14 May 2014 at 11:30

SERVICE PE- Critical Observations on Judgement in Centrica India Offshore (P) Ltd. Facts:- Centrica Plc, a company incorporated in UK, along with foreign subsidiaries in Canada, collectively referred to as Overseas Entities were engaged

Karniti Part- 36: What is "HUF" (Hindu Undivided Family)?

CA Umesh Sharma 12 May 2014 at 11:13

Arjuna (Fictional Character): Krishna, What is mean by HUF Hindu Undivided Family under Income Tax Act?Krishna (Fictional Character): Arjuna, Generally in India mother, father, son and

Accounting and Tax Implication on conversion of Co to LLP

smit shah 09 May 2014 at 12:48

Before starting with anything we shall have the Overview of LLP its Enactment, features, Constitution etc.Background of LLP:LLP as a structure is not new in the International Scena

Unexplained Cash Credits, Investments, Money etc.

CA. Nishant Jain 07 May 2014 at 12:03

Unexplained Cash Credits, Investments, Money etc.Compiled by CA Nishant Jain Section 68: Cash Credits Where any sum is found credited in the books of an assessee, maintained for any previous year and the assessee offers no explanation about the natur

Exemption for Leave Travel Concession u/s 10(5) of the IT Act

Prashant Bhosale 07 May 2014 at 12:03

Section 10(5) of the Income Tax Act, 1961 (along with Rule 2B of the Income Tax Rules) governs calculation of tax exemption on LTA. Each year organizations face significant difficulty while calculating tax exemption on LTA when they carry out the yea

TDS U/S 194C: Introduction

pawan tewari 07 May 2014 at 12:02

Simplified version of section 194c: TDS on contract.Let me introduce two dummy persons Mr Ram (expert) Mrs Ram (little idea of provisions of sec 194c.)Mrs Ram: who are required to deduct TDS u/s 194?Mr Ram: Any person who is responsible to pay a resi

Introduction to basic components of salary

Annu Agarwal 03 May 2014 at 11:36

We are surrounded by people working with a handsome salary.What if they are made more smarter with an introduction to some of the basic components of their salary.Hope the readers find it useful!! Sr. No What are We Talking About

Friendly introduction to Income From house Property

Annu Agarwal 30 April 2014 at 11:20

Hello everyone!!Have you ever realized that reading a book alone is always boring as compared to reading the same book along your friends. In this new article of mine, I have tried to discuss the topic in an interactive manner to make it more intere