Income Tax Articles

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

Few thoughts on Income Tax Scrutiny Provisions

Mahesh Kapasi 16 October 2013 at 13:05

Few thoughts on Income Tax Scrutiny Provisions is it Income scrutiny or Expenditure one! Once upon a time there was an Expenditure Tax it was so unpopular that government had no option but to withdraw it. Now indirectly it is in vogu

Karniti Part-6: Taxation of Political Parties under Income Tax

CA Umesh Sharma 15 October 2013 at 11:39

Arjuna: Krishna, In India now a days election is the topic of discussion among all. Lord Krishna: Just now all have celebrated Vijayadashmi and Festive season is g

New Procedure for remittance outside India w.e.f. 01.10.2013

CA. Anuj Gupta 15 October 2013 at 11:38

CBDT vide notification No. 67 dated 02.09.2013 notified new Forms Form 15CA and CB . The most important changes that have been brought in the new regime for making payments outside India w.e.f 01/10./2013 are as follows:- Chartered Accountant is s

TDS for the works contract tax liability under TN VAT act

P.Jagadeeswaran 09 October 2013 at 12:36

In Tamil Nadu, The Tamil Nadu Value Added Tax, 2006 received the accent of the Governor of Tamil Nadu on the 14th of December, 2006 and was enacted in the Legislature as Act No. 36 of 2006. This act repealed TNGST Act, 1959 and TNAST Act, 1970. Th

Karniti Part-V: Lets know Female related Income Tax Provisions

CA Umesh Sharma 08 October 2013 at 11:42

Keeping the conversation between Lord Krishna and Arjuna as the foundation, we will learn certain basic financial and tax matter. Let us try

Domestic Transfer Pricing - An Overview

CA Vijeta Verma 08 October 2013 at 11:42

BACKGROUND OF TRANSFER PRICING It is a universal phenomena that Mutlinational Companies(MNCs) have branches/ subsidiaries/divisions operati

Sec 50C - A Double Edged Sword

CA Rashmi Ainapur 04 October 2013 at 11:56

SEC 50C A DOUBLE EDGED SWORD Sec 50 C of Income Tax Act was introduced by Finance Act 2002, with effect from 01-04-2003 i,e Assessment Year 2004-05. The main intention for introducing Sec 50 C was to curb the movement of unaccounted elemen