Income Tax Articles

Shastrarth: Taxation of Gifts on Diwali

Abhinav 07 November 2013 at 12:04

Shastrartha: Taxation of Gifts received on Diwali Man: Hey Lord! The festival of Diwali has brought us closer to our relatives. The exchange of blessings, gifts, sweets arouses the love that exists amongst us. God: It is good to enjoy but never fo

Karniti Part9: Starting New Business! Follow the Laws!

CA Umesh Sharma 05 November 2013 at 12:25

Arjuna: Dear Krishna, After Laxmipujan, on Padva, New Year is starting. Many new business ventures and activities are inaugurated on this auspicious occasion. In Diwali festival this day have a great importanc

Karniti Part8: Maint & Workship of Books of Accounts in Diwali

CA Umesh Sharma 31 October 2013 at 12:44

Maintenance of Books of Accounts and their Workship on the eve of Diwali Arjuna: Krishna, the festival of Diwali has arrived. Housewives (Gruhlaxmi) are busy in cleaning and decorating homes. Businessmen are also busy in the market. Accordingly plea

The Reality about Realty!

Prof. Bajaj 28 October 2013 at 12:11

Trust me Sir, real estate will always give you best returns. The prices cannot go down and you will be double your money in 3 years. I think you should book this flat. said Kunjan Srivastav, a seasoned real estate broker to his potenti

Tax treatment of Agricultural Income

CA Manish 24 October 2013 at 12:19

Agricultural Income Tax treatment / Taxability Agricultural Income : Agriculture income is exempt under the Indian Income Tax Act. This means that income earned from agricultural operations is not taxed. The reason for exemption of agricultu

Taxation Entries for Vat,Excise,Service tax and TDS

CA Parul Saxena 24 October 2013 at 12:19

Sometimes people have good idea about the taxation they know very well the provisions of tax and effectively compute the tax liability monthly/quarterly/half-yearly or yearly basis as the case ma

How to reset Income Tax Efiling Password Quickly

@VaibhavJ 22 October 2013 at 12:35

Since we are not required to access E-Filing website as human we tend to forget its Login Information & Password. So let see how you can retrieve login details step by step. First you need to

Karniti Part 7: Agricultural Income & some misbeliefs under I.T

CA Umesh Sharma 22 October 2013 at 12:35

Agricultural Income and some beliefs / misbeliefs under Income Tax Keeping the conversation between Lord Krishna and Arjuna in Bhagwat Gita as foundation, we will learn certain basic financial and tax matter. Let us try to get answer

Section 194H - Principal and Agent Relationship?

CA Dhruva Kalamanji 21 October 2013 at 16:52

Section 194H Principal and Agent Relationship? In the normal course of business, to gear the sales the manufacture will give many types of incentives (in the form of commission or brokerage) and discount to his dealers. The very

Capital Gain Tax Simplified

CA Pallav Singhania 16 October 2013 at 13:06

Chargeability u/s 45 Profits or gains arising from the transfer of a capital asset is chargeable to tax in the year in which transfer take place under the head "Capital Gains". Definitions Transfer: Sec. 2(47): Transfer in relation to