Income Tax Articles

Safe harbour Rules Vs Permanent Establishment

MOHIT JAIN 07 April 2014 at 12:00

Government has notified Safe Harbour rules (SHR) to provides certainty to Indian associate enterprise of MNC group in its Transfer Pricing Assessment The bigger question is that whether safe harbour will

Compliance - Income tax Return Filing. Why? And how to reply

CA Chirag Chauhan 01 April 2014 at 11:35

The Mission of Our Income Tax Department is To promote Compliance with our direct tax laws, through caring taxpayer service and strict enforcement, and thus realize maximum resources

TDS treatment for overseas transactions including M&A

ESHA AGRAWAL 29 March 2014 at 12:35

An instruction by foreign tax division of central board of direct taxes (CBDT) will put an end to litigation relating to TDS by indian taxpayer in overseas transaction including mergers and acquistions. When any payment is made to foreign company or

All about Income Tax Returns

CA. Kapil Goel, DISA(ICAI) 27 March 2014 at 11:27

The forms used to file income taxes with the Internal Revenue Service (IRS) are known as Income Tax Returns. Tax returns are set up in an excel worksheet format, where the income figures are used to calculate the tax liabi

Growing Importance for TDS Compliance

Rinav Ashok Khakhar 27 March 2014 at 11:27

Nowadays delay in payment of TDS and in TDS return Filing makes an assessee liable to Late Payment Interest, Late Payment Penalty, Late Filing Fees, Late Filing Penalty and Further makes him liable to prosecution under the provision of the Income Tax

Karniti Part-29: Every Taxpayer must verify his Form 26 AS

CA Umesh Sharma 26 March 2014 at 12:31

Arjuna (Fictional Character): Krishna, as one reconcile bank transaction with the bank statements from time to time, now taxpayers are required to reconcile the income tax with Form 26 AS. What is this Form 26AS? Krishna (Fictional Character): Arjuna

Joint Development Agreement - Landmark Judgment

Rupesh Srivastava 21 March 2014 at 12:16

Landmark orders on Joint development agreement, updated as on 21st March 2014 1. (2002) 4 CHN 115 "Development agreement comes out of the scope of the ambit of section 53A of the Transfer of Property Act. Therefore, section 53A of the TP Act, ha

Issue of Shares at less than FMV- Section 56(2)(vii)

MOHIT JAIN 21 March 2014 at 12:14

Analysis of Mumbai Tribunal Judgement in Sudhir Menon HUF (ITA No. 4887/Mum/2013)- AY 2010-11- Section 56(2)(vii) Facts:- Assessee was shareholder in a company and was allotted right shares (1,94,000) at face value of Rs. 100 each on 28.01.2010 The

Karniti Part-28: Colors of Income Tax and Taxpayers Holi

CA Umesh Sharma 18 March 2014 at 11:26

Colors of Income Tax and Taxpayers HoliArjuna (Fictional Character): Krishna on this day of March by making bonfire chilled winters comes to an end. Further in this month being an last month for the financial year 2013-14, taxpayers will have to blen

Conversion of Company into LLP-Accounting & Tax implications

Abhinav 18 March 2014 at 11:25

A business organisation structure is like our shoes; if too small, they pinch us; but if too large, they cause us to lose balance.1. IntroductionDeciding the form of business organisation is among the first decisions that an entrepreneur has to make.