Income Tax Articles

Reason for introduction of TDS

Posted by nawin kumar kintali 26 June 2015 26463 Views

There is always a time gap between deriving of income and payment of tax there upon .The objective of introduction of the provision tax deduction at source is to reduce that time gap and also ensure the regular flow of funds to governmentDemerit by T

Procedure of re-assessment u/s 147

Posted by CA Pawan Maloo 25 June 2015 45163 Views

Assessment is a procedure adopted to determine the correctness of the income disclosed by the assessee and tax payable thereon. Than what is reassessment and why there is need of reassessment? Section 147 and 148 of

All about ITR - 2A Form

Posted by CA ANKIT GUPTA 25 June 2015 23350 Views

1. Who can use this Return Form? This Return Form is to be used by an individual or a Hindu Undivided Family whose total income for the a

Clause wise dicussion of form 3cd- Part 2

Posted by CA Mayank Khatri 25 June 2015 202515 Views

Clause - 16 Amounts not credited to the profit and loss account, being,- the items falling within the scope of section 28; the proforma credits, drawbacks, refund of duty of customs or excise or service tax, or refund of sales tax or value added

Verification of ITR with Aadhar card introduced

Posted by CA SONIYA AGARWAL 24 June 2015 19755 Views

Till now upon E - filing of Income Tax return, we use to send the acknowledgement copy to CPC Bangalore within 120 days by speed or registered post, many a times the acknowledgement copy of ITR does not reach the CPC Bangalore & people used to ge

Key changes in new ITR Forms for F.Y. 2015-2016

Posted by Amit Dharmani 24 June 2015 53467 Views

Scrutiny of refurbished return forms for Assessment year 2015-16 I. Introduction to New Rule 12The Rule 12 of the Income-tax Rules was amended vide Notification No. 41/2015, Dated 15-04-2015. The new ITR Forms 1,

Your income tax account online so difficulties offline

Posted by CA Umesh Sharma 23 June 2015 14173 Views

Karneeti Part 103Your Income Tax Account Online so difficulties Offline Arjuna (Fictional Character): Krishna, nowadays income tax department is sending email named Online Taxpayer Service to all taxpayer, what is it? Krishna (Fictional Character):

Clause wise discussion of form 3CD- Part 1

Posted by CA Mayank Khatri 22 June 2015 99202 Views

Clause 1- Name of the assessee Under clause (1) the name of the assessee whose accounts are beingaudited under section 44AB should be given. However, if the tax audit is inrespect of a branch, name of such branch should be mentioned along withthe nam

Taxation of share of AOP in the hands of companies

Posted by CA Santosh Dhumal 22 June 2015 26658 Views

Membership of AOP/ BOI. Section 67Aof Income Tax act 1961 deals with method of computing members share in income of AOP / BOI. As per the Sec67(A). (1) In computing the total income of an assessee who is a member of an association of persons or a bo

An opportunity to file six year ITR to claim TDS

Posted by Salil Arora 22 June 2015 49945 Views

An Assessee Can only file return for last 2 years and claim refund if any due and not beyond that. In case he missed to file return within prescribed timeline he has no choice other than to forget his refund claim.Income Tax Department in Latest circ