This is to inform you that the Central Board of Direct Taxes (CBDT) vide Notification No. 133/2011 dated March 29th 2011 has notified Incomeâ€tax (Second Amendment) Rules, 2011 which amends Rule- 28AA dealing with issue of Certificate for
GROSS PROFIT RATE Application of section 145(3) OF THE INCOME TAX ACT By Deepak k Gujrati FCA SYNOPSIS COMPONENTS OF GROSS PROFIT WHEN GROSS PROFIT RATE IS LOWER THAN PREVIOUS YEAR DEFECTS IN BOOKS OF ACCOUNTS APPLICATION OF SECTION 145(3
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
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
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
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 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
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
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
www.caclubindia.com/homepage/maheshkapasi MAHESH KAPASI E-Mail: maheshkapasi49@gmail.com Chartered Accountant
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