Income Tax Articles

Detailed analysis of new TDS Section 194IA

Manoj BG 12 June 2013 at 12:39

w.e.f 01/06/2013, new TDS section brought into effect for deduction of tax while making payment for purchase of immovable property other than agricultural land in rural area in India- Following are the conditions and operational mechanism- (1) T

A few aspects of applicability of Tax audit

CA CMA CS Ram Pavan Kumar Melam 12 June 2013 at 12:38

The voluntary tax compliance by the taxpayers considerably widened after the insertion of tax audit under section 44AB in the Income-tax Act, 1961 by the Finance Act, 1984. An important revision to Tax Aud

Transfer pricing precautions; Taxpayers need to take despite recent ITAT ruling

Rupesh Srivastava 10 June 2013 at 11:17

In an recent ITAT ruling reported in (2013) TaxCorp (TP) 5176 (ITAT), the ITAT said Transfer pricing rules do not apply in these circumstances (i) to an investm..

Financial Planning for Beginners

Prof. Bajaj 10 June 2013 at 11:17

June is the month, when many campus recruits start with their first job. Sameer Dahane was one of them. While he was excited of a new role, he was equally eager to get his salary so that he can splurge it. On a casual tea-time discussion with Kapil,

Income Tax Settlement Commission

TKKKKKK 07 June 2013 at 11:27

Tax Settlement Commission, a quasi judicial body, was set up under section 245B of Income-tax Act 1961. It has been set up as a result of recommendations made by Direct Taxes Enquiry Committee (Popularly known as W

TDS Certificates

CA. Brijesh Baranwal 05 June 2013 at 16:10

Friends, Once again the season of filing income tax returns has come. Government has notified almost all Income Tax Return (ITR) Forms barring a few, which may be notified in next few days. TDS certificate is one of the most require

TDS on Immovable Property

Bimal Jain 04 June 2013 at 18:26

The Finance Bill 2013 had proposed to introduce Section 194IA to the Income Tax Act, 1961 (the ITA) which provided that the purchaser of an immovable property worth over Rs. 50 lakhs (other than agricultural land) is required to deduct

TDS/TCS Rates Chart for A Y 2014-15

CA Pardeep Chanana 04 June 2013 at 17:06

TDS Rate Chart for A Y 2014-15 on Payments other than Salary and Wages Section No. Nature of Payment Threshold Total Payment During the Year Payment to Individual or H

Tax Residency Certificate

Deepak Agrawal 01 June 2013 at 16:30

Significance of Tax Residency Certificate (TRC) for claiming benefit provided under DTAA: Section 90 of the Income Tax Act empowers the Central Government to enter into an agreement with the Government of any foreign country or specified territory

E-Filing is mandatory Income is more than 5 lacs

CA Prasenjit 29 May 2013 at 12:38

The Central Board of Direct Taxes (CBDT) is Spreading e-tax net through Notification dated 34/2013 dated 01.05.2013. E-filing of I-T returns is now mandatory for individuals, including salaried taxpayers, earning more than Rs 5 lakh taxable income d