Income Tax Articles

Entities availing DTAA benefits have to file retun in INDIA

CA. Anuj Gupta 17 May 2013 at 12:49

Those availing of treaty benefits would now have to file returns of their incomes in India, even if those arent liable to be taxed here. The government has changed the Income Tax Rules, making it mandatory for certain classes of assessees, in

Quotes on Income Tax

CA SURENDRA KUMAR RAKHECHA 16 May 2013 at 14:01

QUOTES ON INCOME TAX : CA SURENDRA RAKHECHA . . READING OF A "SECTION" GIVES DIFFERENCE RESULTS ! . . 1. At First Reading; you will HARDLY understand it. 2. At Second Reading; "SOMETHING" you will understand. 3. At Third Readin

Inclusion of Transporters Details in TDS Returns are mandatory

Ganeshbabu K 13 May 2013 at 10:47

As per Income tax act 194C, TDS is not required to be deducted on payments made to transporter If PAN number has been provided to the deductor. Further as per Section 197 of Inco

Understanding LBT & Government

Ashish Kedia 13 May 2013 at 10:47

It seems the arrogance of the government simply refuses to die! Inspite of being witness to one of the largest mass movements over the last 4-5 days by the business community in recent time, the government seems to be in no mood to show any empathy.

About New ITRs for A Y 2013-14

CA Pardeep Chanana 10 May 2013 at 13:18

Form & mode of filling of Income Tax Return for A Y 2013-14 Relevant Sections of Income Tax Act, 1961:- 139(1), 139(3), 139(4A), 139(4B), 139(4C), 139(4D), 142(1), 148(1), 153A All Applicable Return Forms for A Y 2013-14:- ITR 1 (SAHAJ)

Specified Domestic Transaction

CA Pardeep Chanana 10 May 2013 at 13:18

INTRODUCTION Applicability of transfer pricing provisions was earlier limited to International Transactions only. With effect from 01.04.2013, the scope of Transfer Pricing provisions is extended to Specified Do

Changes in Tax Returns filing norms - from F.Y. 2012-13

CA Priyanka Srivastava 10 May 2013 at 13:18

W.E.F. from F.Y. 2012-13, following persons have to file returns electronically: (Vide Notification No. 34/2013, dated 01.05.2013) 1. Every person (not being a company or person filing ITR 7) if Total Income is above Rs. 5 lacs. 2. Resident Indivi

Common Income tax procedures at one place

Saurabh Maheshwari 09 May 2013 at 11:57

In continuation of my previous article, posted almost 2 months back I am writing once again but I am extremely sorry for such a delay but the same was due to some other commitments.Thanks for wonderful response to the first part of

Deduction u/s pension scheme worthy or not as per income tax

CA Prashant Gupta 08 May 2013 at 12:21

Any individual can deposit contribution to Notified Pension Scheme by central Government. If person is employed then his contribution will get deduction u/s 80CCD (1) and employer contribution will get deduction u/s 80CCD (2). Any self employed can

S. 2(47)(v), 54EC- Transfer of Property - Date of agreement

Rupesh Srivastava 01 May 2013 at 13:03

Recently on 26th April 2013, ITAT bench held that under Transfer of Property Act twin conditions - It is not necessary that both conditions should be satisfied in one year but at the same time only upon satisfying the second condition also it would