Income Tax Articles


Understanding Section 14A Impact With Case Laws

  Manish Kumar Agarwal    21 March 2011 at 11:57

Now a days, every assessee who is doing investment in shares are getting hitted hard by the impact of section 14A. The AO are adding back a huge sum on account of this, whereas the assessee had not e



Important Changes in eTDS Returns

  Manish Kumar Agarwal    21 March 2011 at 11:57

Guidelines for reporting TDS transactions where amount paid to deductee has not exceeded the threshold limit Guidelines for reporting TDS transactions where amount paid to deductee has not exceeded the threshold limit in the first quarter but in sub



Scope of scrutiny assessment in AIR cases under Income Tax

  Amit Bajaj    21 March 2011 at 11:55

Income Tax Department nowadays selects almost all cases for scrutiny assessment under section 143(2) of Income Tax Act 1961 based upon AIR(Annual Information Return) transactions or through CASS. It is sometimes seen that when a case is selecte



Capital Gains - some issues

  Member (Account Deleted)    18 March 2011 at 11:14

ISSUES IN CAPITAL GAINS INTRODUCTION The concept of Capital gains needs a thorough study and interpretation to understand and apply them practically. Hence, the issues on capital gains are mostly concept oriented and often vary on the



Budget 2011-12 For Employees

  CA. Dashrath Maheshwari    09 March 2011 at 11:52

BUDGET 2011-12 FOR EMPLOYEES WHAT WE GOT WHAT NOT GOT New category of VERY senior citizens (above 80 years) to get higher IT deduction limit of `. 5 lakh (How much people will come under this categor



Capital Gain on Conversion of Capital Asset Into Stock

  Amit Bajaj    07 March 2011 at 11:08

Section 45(2) of Income Tax Act deals with the cases where a capital asset is converted into stock in trade. Whenever a capital asset is converted into stock in trade by an assessee it is deemed as transfer of capital asset and attracts capital



Payment of TDS

  Manish Kumar Agarwal    07 March 2011 at 11:07

Dear All, You kind attention is invited to my trailing mail dated June 9th 2010 highlighting therein the amendment made vide Notification No. 41/2010 dated 31 May 2010 and the notable features of the amended TDS Rules. These are as under: (a) Time



Budget 2011 Income Tax

  Mahesh Kapasi    03 March 2011 at 15:22

www.caclubindia.com/homepage/maheshkapasi MAHESH KAPASI E-Mail: maheshkapasi49@gmail.com Chartered Accountant



A few thoughts on Section 14A

  Ryan Saldanha    03 March 2011 at 15:18

Income-tax Act, 1961 has so many complicated provisions. I feel it is best to uncomplicate that which is complicated. As Denzel Washington said in movie PHILADELPHIA, All right, Mr. Laird, explain this to me like I'm a four-year-old



Income declared u/s 44AD-no need to explain each cash deposit

  Amit Bajaj    02 March 2011 at 12:06

Income declared u/s 44AD- Assessee not liable to explain each entry of cash deposit. I have found the following Judgement very useful for small assessees who declares their income under presumptive income schemes and I am sharing it here for benefit




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