Income Tax Articles

Re-assessment Jurisdiction of Assessing Officer

MOHIT JAIN 13 August 2014 at 10:36

Re-assessment Jurisdiction by Assessing Officer 1. Initiation of re-assessment proceedings (issue of notice u/s 148) should be strictly in accordance with the cumulative conditions stipulated in sections 147, 149 & 151 of Income Tax Act, 1961, ot

A Brief Guide to TDS

CA Kumar Kedia 07 August 2014 at 11:22

Govt. of India collects the tax basically by three modes, i.e. Self assessment, Advance Tax and one of them is TDS( i.e Tax deduction at source.Discussing in brief what exactly the TDS is? TDS is the tax which is deducted at the

DT Fundas - understanding of legislative system

Member (Account Deleted) 04 August 2014 at 11:36

let us understand our legislative system. Constitution of India is the supreme law of India. India has been further divided into 2 categories by constitution i.e. Central India (India as a whole) and Independent states (States). Parliament has been e

Black Money - Income Tax weapon of Search & Seizure becoming Stingless!

Guest 04 August 2014 at 11:35

Today, I intend to discuss the most powerful and intrusive tool of Search & Seizure that the Income Tax Department possesses. In fact, in general public perception, the Income Tax Department is better known for its 'raids' on corporate ho

Highlights of Budget Finance Bill 2014 Part IV (Section -I)

Member (Account Deleted) 30 July 2014 at 10:59

For Previous Articles :PART - IPART - IIPART - IIIPART - IV**Miscellaneous Provisions (section I) Income of Charitable Trust and Institution Section -11 & Section 12 Principal Commissioner or the Commissioner may also by a

Old vs. New Tax Audit Report - A Y 2014-15

CA Pardeep Chanana 30 July 2014 at 10:58

Changes made in Tax Audit ReportAssessment Year 2014-15 Sr. No. Particulars Old Report New Report Changes are reflected by Bold Letters 1. FORM NO. 3CA 3. In * my/our opinion an

Why & for whom Income Tax return Filing before 31st July is mandatory?

CA Umesh Sharma 29 July 2014 at 12:12

Karniti Part: 47Why & for whom Income Tax return Filing before 31st July is mandatory? Arjuna (Fictional Character): Krishna, 31st July 2014 is near and many taxpayers are hurrying up for filing income tax returns. What are the poin

Section 80C deduction as per Income Tax Act

Sandeep Dharar 24 July 2014 at 11:48

There are different confusions regarding the deduction u/s 80C of the Income Tax Act for certain investments. So to remove the confusions and rumors regarding the section. I am presenting a disclosure regarding the section in details.Note:- Ple

Highlights of Budget -- Finance Bill, 2014 PART - III

Member (Account Deleted) 21 July 2014 at 11:44

For Previous Article PART - I Click HereFor Previous Article PART - II Click HerePART - III**International Tax Characterization of income in case of Foreign Institutional Investors (FII) Section 2(14) Definition of the term Capital Ass