Income Tax Articles
Analysis of Section 36(1)(iii) Interest on Borrowed Capital
Pankaj Gandhi Jaiswal 22 March 2012 at 15:51Analysis of Proviso of Section 36(1)(iii) & Proviso (1) The deductions provided for in the following clauses shall be allowed in respect of the matters dealt with therein, in computing the income referred to in section 28
Buying Online Term Plan? Few Tips to Follow
Prof. Bajaj 22 March 2012 at 15:45Nothing doing! Now no agent can fool me saying that endowment plans or ULIPs are good. I have understood that only term plan is the best form of risk cover. I am going to buy a term plan online. Said Niraj, a 29 year old IT profess
Are Director Liable to Tax Audit & Service Tax as per Budget
CA Prashant Gupta 21 March 2012 at 12:18ARE DIRECTORS LIABLE TO SERVICE TAX AND TAX AUDIT AS PER UNION BUDGET 2012-13 ? Till the date of budget, there is always confusion on treatment of directors remuneration. There is conflict about whether it is salary income or it is a bu
Vodafone 'Refund' Amendment - Possession is 9/10th of the law
ANANDH SUNDAR 20 March 2012 at 12:11The Budget of FY12-13 dropped a tax bombshell by introducing a retrospective change in law from 1962, directed at Vodafone and other simillar cases. While my esteemed seniors will doubtless analyze or litigate this change in law, I thought it fit to
How Much "Convenience Tax" You are Paying?
Prof. Bajaj 20 March 2012 at 12:09"Convenience Tax? When was this tax imposed? Government has no other business than to impose new taxes everyday?" might be a normal reaction after reading the title. Well, the good news is, this tax is not really levied by the Go
Manufacture by Job
Vijay Kalia 14 March 2012 at 13:54Manufacture by Job-worker Availing Exemption-Allowability of Cenvat Credit: The issue dealt herein is with respect to the availability of cenvat credit for inputs or input services to a job worker who utilizes such inputs for manufacture of goods
Capital gains exemption u/s 54EC of Income tax Act, 1961
Amit Bajaj 12 March 2012 at 11:00Section 54EC of Income Tax Act, 1961 provides an option to save tax on capital gain arising from the transfer of long-term capital asset subject to fulfillment of certain conditions. Provisions of section 54EC are being discussed herein below for the be
Understanding Section 14A Impact With Case Laws Part-II
Manish Kumar Agarwal 09 March 2012 at 16:31The Income tax department (ITD) now a days become very harsh to the assessee in respect of disallowance made under section 14A read with rule 8D. The ITD applies rule 8D blindly on the assessee and making un-necessarily additions causing hardship
Vodafone Review Needed
Vijay Kalia 03 March 2012 at 13:31VODAFONE: REVIEW NEEDED AT THE TOUCHSTONE OF MCDOWLL 5-JUDGE JUDGMENT In recent history of taxation the case of Vodafone International Holdings would always occupy a prominent place as the law laid down now would continue to hold their sway in mo
5 Mistakes to avoid while saving tax!
Prof. Bajaj 29 February 2012 at 12:15Its March knocking on the door and the same mad rush is seen everywhere. For what ?? To save tax of course. Be it businessman or salaried or professionals, there is still a huge chunk who are yet to make their tax saving investments and while doing
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