Income Tax Articles

Taxation of heriditary LIC insurance commission

Posted by sivadas chettoor 10 February 2015 30405 Views

TAXATION OF HERIDITARY LIC INSURANCE COMMISSION- A STUDYSIVADAS CHETTOOR BCOM FCA LLMINTRODUCTION:- The brief study in this article relates to some legal and taxation issues connected with the receipt of hereditary commission by nominee or legal heir

Loveonomics and its taxation

Posted by CA Umesh Sharma 09 February 2015 14939 Views

Karneeti Part 75Loveonomics and its taxationArjuna (Fictional Character): Krishna, 7th February to 14th February is celebrated as Valentine Week all over the World. This is celebrated by giving gifts and wishes and for that the markets were ready. Th

TDS u/s 195- Interesting Cases

Posted by CA Rohit Gupta 07 February 2015 37413 Views

Peculiar Cases where Courts held Assessee Liable for Deduction of TDS u/s 195Withholding taxes u/s 195 in respect of transactions with Non-Residents has always been a bone of contention between Assessee and tax authorities. Though liability for deduc

Rejection of Books of Account - Sec 145 of Income Tax Act 1961

Posted by CA Ram Bajaj 05 February 2015 53142 Views

145(1) Income Chargeable under the head Profit and Gains of business or profession or Income From other sources shall, subject to the provisions of sub section(2), be computed in accordance with either cash or mercantile system

All you need to know about PAN

Posted by Dattatray Hanamant Pujari 04 February 2015 30062 Views

Permanent Account Number (PAN) is a ten-digit alphanumeric number, issued in the form of a laminated card, by the Income Tax Department, to any "person" who applies for it or to whom the department allots the number without an application.

Income tax slab rates of 24 years

Posted by CA ANKIT GUPTA 03 February 2015 32604 Views

INCOME TAX SLAB RATES FOR MALE ASSESSEEFROM ASSESSMENT YEAR 1992-1993 TO ASSESSMENT YEAR 2015-2016 Hello readers, I found many persons searching sites here and there for slab rates of some previous years, purchasing books for the purposae of making a

Bad Debts allowable under IT Act- An anaysis

Posted by Saurabh Maheshwari 03 February 2015 98243 Views

Hello friends!!! greetings of the day. Writing an article after a long time.In this article an attempt has been made to highlight the pros & cones with respect to allowance of bad debts under the I.T Act.Bad debts[Sec 36(1)(vii)-Allowed as deduc

Second Home: Problematic in Real life as well as in Income Tax?

Posted by CA Umesh Sharma 02 February 2015 12455 Views

Karneeti Part 74Second Home: Problematic in Real life as well as in Income Tax?Arjuna (Fictional Character): Krishna, Recently Reserve Bank has reduced the Repo Rate leading to reduction in the Rate of Housing Loan. It may be easier for

Investment in fixed deposits - Income tax deduction for Aam Aadmi

Posted by CA ANKIT GUPTA 31 January 2015 29743 Views

INVESTMENT IN FIXED DEPOSITS INCOME TAX DEDUCTION FOR AAM AADMIHello readers , Many of the assessees and their advisors which I came across have doubts regarding the claim for deduction under section 80C on Investments in term deposits with sc

All about form 15ca and 15cb

Posted by Manish Shashikant Savalkar 29 January 2015 52949 Views

1. Why Form 15CA? Form 15CA is a Declaration of Remitter and is used as a tool for collecting information in respect of payments which are chargeable to tax in the hands of recipient non-resident. This is start