Income Tax Articles

Section 43 of the Income Tax Act, 1961

Manish Kumar Agarwal 20 April 2012 at 11:19

UNDERSTANDING SECTION 43 WITH LATEST CASE LAWS: Now its time to unlock all mystery in respect of section 43 of the Income tax act, 1961 with the help of the latest court rulings and judgments. Let us divide the section according to the subject an

Amendments in Penal Provisions of TDS

ABHISEK TOSNIWAL 18 April 2012 at 12:26

TDS PROVISIONS MADE MORE STRINGENT WITH REGARD TO COMPLIANCE PART & PENALTY CLAUSES INSERTED IN THE BUDGET, 2012. As time is passing away the TDS provisions are made more & more stringent day by day. TDS being one of the most important rev

7 Tips of Successful Investing in the New Financial Year

Prof. Bajaj 12 April 2012 at 11:35

New Financial Year is something, not very different from a new calendar year. All of us look back at the year gone by, sigh at the mistakes made and swear not to repeat them in the new year. In India, as our financial year ends in March, and the n

2(22)(e) - Income Tax Department & Assessee

CA Kishore Tallam 02 April 2012 at 11:18

2(22)(e) A Long standing Dispute between Income Tax Department and Assessee: Background of the Section: Its a regular practice between closely held group companies to transfer monies to meet their fund requirements (other than for

Burning issues in Direct taxes Budget- 2012

CA Nikhil Jhanwar 30 March 2012 at 12:24

BURNING ISSUES IN DIRECT TAXES The present Budget has made various amendments and changes in respect of income taxpayers. Here is the critical analysis and impact of the major changes in Budget 2012 in respect of personal Income Tax: E

Don't Retire Hurt!

Prof. Bajaj 30 March 2012 at 12:24

Retirement Planning has become a buzz-word these days! Every newspaper, every news-channel seems to talk something or the other about retirement planning. What is more surprising is, when talking about retirement planning, everyone is just talki

Tax Hell?

Venkatesan.k 30 March 2012 at 12:23

Introduction Finance Ministry, while presenting the much disillusioned and indifferent Union Budget with heavy fanfare and subsequent silence, brought out an amendment that took many people by surprise. It was not just a normal amendment. Rathe

TDS on Transfer of property

Dilip K Raina 26 March 2012 at 18:29

TDS on Transfer of property- a bombshell In order to ensure that the real estate transactions come within the tax net, the Finance Bill presented along with the Budget 2012 proposes to insert new section 194LAA with effect from 01.10.2012 providin

Advance Pricing Agreements

Tarun M Guntanur 24 March 2012 at 15:16

Backdrop of APA introduction As widely reported, the conclusion of latest transfer pricing audits by Indian revenue authorities witnessed aggregate income adjustments to the tune of Rs 44,000 crore for one year alone, which is more than the aggr

TDS on Remuneration Paid to Directors

G S Rao 24 March 2012 at 15:05

TDS ON REMUNERATION PAID TO DIRECTORS u/s 194J(1)(ba) of INCOME TAX ACT,1961 Budget 2012 inserted a New clause 1 (ba) in Section 194 J which mandates TDS @ 10 % on any remuneration paid to Directors of a company. This clause will be effective