Income Tax Articles

Instances of losses not deductible for business income

CA KULDEEP PRAJAPATI ROOPWAL 01 February 2014 at 15:53

Where the assesse, a retired partner of a firm, wrote off an amount owned by the firm to it several years after the dissolution of the firm, It was held that the amount so written off was not de

Ways to save Tax

ESHA AGRAWAL 31 January 2014 at 12:33

Many options, Many advice, and a deadline approaching fast, many taxpayer have to make investment. Are you confused? Before you invest in a tax saving instrument just go through the cover story to choose which option is best for yo

Karniti Part-20: Salary earners now "Dent" in claiming Allowance of "House Rent"

CA Umesh Sharma 21 January 2014 at 12:34

Salary earners there is now "Dent" in claiming Allowance of "House Rent" Arjuna(Fictional Character): Krishna, all the salaried people might be busy in providing information to their employers for computing income tax, deductions and exemptions from

TDS Compliances and Penalties

POOJA CHANDAK 21 January 2014 at 12:34

TDS PROVISIONS & COMPLIANCES [A] Mandatory Filing of TDS StatementsEvery person responsible for deduction of tax under Chapter XVII-B shall, in accordance with the provisions of Section 200(3), submit the following Quarterly Statements to the Dir

Deduction for Interest on Education Loan

Rohit 17 January 2014 at 13:49

Q.1 Who can claim deduction?Only Individual can claim deduction under section 80E.Q.2 What is Expenditure Qualified for deduction under section 80E?Interest paid on Loan.Loan should be taken:1. for Study after Senior Secondary or its equivalent2. fro

Analysis of TDS withholding tax & TDS provisions

S.ASWATH 17 January 2014 at 13:48

Whether assessee can appeal for Intimation received under section 200A for TDS provision violation? Whether is it mandatory to apply U/s. 195(2) or U/s.197 for no deduction certificate to pay without deduction? Analysis provision & case laws of I

Karniti Part-19: Kite Fight between Taxpayer & IT Dept

CA Umesh Sharma 15 January 2014 at 11:01

Arjuna (Fictional Character): Lord Krishna, all are happy and enjoying as two festivals Makar Sankranti and Eid are coming together. Children are busy flying colorful kites in the blue sky. Kites o

How to make sure your Income Tax return is not rejected?

Palak Aggarwal 15 January 2014 at 11:00

Most of us file our income-tax (I-T) returns online before the July 31 deadline. Electronic filing (e-filing) is convenient and you can even pay your taxes online. However, filing your returns online does not mean that the process of fi

Safe Harbour Rules - International Transfer Pricing

Sandeep SHARMA 15 January 2014 at 10:57

Sandeep SHARMA(CA Final)sandeep.ca92@gmail.com91-93578-95039 Safe Harbour Rules Transfer PricingThe only thing that is constant is change.Change is what has bought us to the juncture and change is what it will take to usher in a

How to proceed with Tax Audit - An Overview

Vignesh A. 15 January 2014 at 10:55

Let us consider the following questions : Objective of Work? Where to start? How to Proceed? What to Check & document in working paper file? Knowledge base / Study paper? Tax Audit :1. Objective:In cas