Income Tax Articles


Equity linked saving scheme (ELSS) - The best tax saving tool

  CA. Ankit Chandrakar    07 October 2014 at 10:38

WHAT IS AN EQUITY LINKED SAVING SCHEME (ELSS)? ELSS is a popular mutual fund scheme that allows you to take exposure in the equity market, while simultaneously serving as a tax-saving product. It is a type of mutual fund which invests majority of its



Revision of tax audit report

  CA.MANOJ LAMBA    06 October 2014 at 11:11

The system of Tax Audit u/s 44AB has changed drastically in recent time. Particularly the change of manual filling to non filling and now from non filling to e filling has raised lot of



Pension- Taxation issues

  ESHA AGRAWAL    06 October 2014 at 11:10

Pension is a retirement benefit; this is taxed as salary in the hands of the employee. Tax is deductable under section 192 of income tax act on payment. Family pension received by the dependence of the employee is taxable under th



Transfer pricing issues relating to royalty payment

  RAGHAV GUPTA    04 October 2014 at 14:35

Royalty payment has been a matter of intensive discussion in India as well as internationally. Recently, the Organisation for Economic Cooperation and Development (OECD) published discussion paper on Base Erosion and Profit Shifting (BEPS) in which i



Certificate under Rule 37BB of Income Tax Rules, 1962

  Milind M. Kulkarni    01 October 2014 at 12:30

Requirement for certificate of an accountant under Rule 37BB, or certificate in form 15CB as it is popularly known, originates from Section 195 (6) of Income Tax Act, 1961 (“the Act”) which requires a person making payment to a non reside



The Story behind the Extension of Due Date for ROI for AY 2014-15

  Hetvi Sheth    01 October 2014 at 12:30

The order dated 20th August, 2014 issued by the Central Board of Direct Taxes (CBDT) extending the due date for obtaining and furnishing of Tax Audit Report (TAR) under section 44AB of the Act for Assessment Year 2014-15 from 30th September, 2014 to



The Force behind the ITR Extension

  CA Sudhir Halakhandi    30 September 2014 at 19:19

THE FORCE BEHIND THE ITR DATE EXTENSIONTAR DEFERMENT 2014 CA SHIV KHATRY THE ADMIN OF THE HISTORIC GROUP- BY CA SUDHIR HALAKHANDI At the Last the Date of Filing of Income Tax Returns is extended to match it with the date of Tax audit report



Breaking Partnerships

  CA Umesh Sharma    30 September 2014 at 11:22

Karniti Part 56Breaking PartnershipsPartnerships, Politics and its TaxationArjuna (Fictional Character): Krishna, what is going on? All over Maharashtra the discussion of breaking of partnerships by political parties are happening. However, if the sa



A talk with CA Rajni Shah - The Gujarat High Court Petitioner

  CA Sudhir Halakhandi    30 September 2014 at 11:18

EXTENSION OF DUE DATE OF ITRA TALK WITH CA RAJNI SHAH THE GUJARAT HIGH COURT PETITIONERFriends, at Last the Date of Filing of Income Tax Returns is extended to match it with the date of Tax audit report and this is the natural requirement of



Due date of ITR extended but 234A interest still applicable

  CA Sudhir Halakhandi    27 September 2014 at 11:59

Due Date for filing of return of Income for Assessment Year 2014-15 Extended from 30th September, 2014 to 30th November, 2014 in Specified CasesAs per the provisions of the Income-tax Act, 1961 (the Act), for an assessee, who is require




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