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Income Tax Articles


Ambit of Advance Tax

Posted by Abhijeet Deshpande 14 March 2016 15215 Views

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

Posted by Himanshu Goel 10 March 2016 36766 Views

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



Comparison of Union Budget 2016-17 vs. Budget 2015-16

Posted by Anand Satyapanthi 08 March 2016 18276 Views

India�s Union Budget 2016-17 was presented by Finance Minister Arun Jaitley when we are evidencing the global economy in a serious crisis. Over the last two years, global growth has contracted



Fair, Lovely & Ugly From Jaitley's potli

Posted by CA Umesh Sharma 08 March 2016 9607 Views

Arjuna (Fictional Character): Krishna, Government has announced Budget on 29th February 2016 for the Year 2016-17. On this Various persons expressed their views. As every coin has two sides, likewise



Income declaration scheme 2016 - Salient Features

Posted by shivaji prasad bhimavarapu 05 March 2016 46203 Views

The finance minister has brought in one more opportunity to bring black money into books of accounts by announcing the "INCOME DECLARATION SCHEME 2016" in the Finance Bil



Term Insurance or Traditional Insurance

Posted by ROHIT 05 March 2016 6501 Views

Hello Everyone, As we have entered in the last month of our Financial Year, a handful of my friends would have their tax saving investments on place but the majority of my friends be it salaried or self-employed is gonna start head hunting for Tax Sa



Minimum Alternate Tax-In Most Simple manner

Posted by pawan tewari 05 March 2016 10796 Views

The concept of MAT was introduced under income tax act to tax companies having profit as per books and declaring dividends but have no significant taxable income because of exemptions, deductions, incentives and tax holidays available to them. The in



Surplus on sale of shares and securities- Capital Gains or Business Income

Posted by CA Ashutosh Khaitan 05 March 2016 5053 Views

Issue of taxability of surplus on sale of shares and securities � Capital Gains or Business Income � Instructions in order to reduce litigation � reg.1. Sub-section (14) of Section 2 of the Income-tax Act, 1961 (�Act�) d



Budget 2016-17- Income Tax & some other comments

Posted by Mahesh Kapasi 04 March 2016 7781 Views

Introduction: This year's overall �Union Budget is �just� like an election budget- trying to please more of �poor voters-nothing is wrong in it but schemes launched for them must be strictly



Clarification on taxability of withdrawal of accumulated balance in the provident fund

Posted by CA Dhruva Kalamanji 02 March 2016 8784 Views

The section under discussion:Section 10 (11)Section 10 (12)Rule 8 of Part A of the fourth scheduleExtract of above section from the Income Tax Act, 1961:10 (11) any payment from a provident fund to which tmhe Provident Funds Act, 1925 (19 of 1925), a




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