Income Tax Articles

Section 194B

Rahul Ramesh 06 December 2010 at 13:04

Section 194B TDS on Winnings from Lottery According to section 194B of the Income Tax Act 1956, The person responsible for paying to any person any income by way of winnings from lottery or crossword puzzle or card game and other ga

Whether higher stock declared to bank attracts Section 69?

Amit Bajaj 01 December 2010 at 11:17

WHETHER HIGHER STOCK THAN ACTUAL DECLARED TO BANK ATTRACTS ADDITIONS U/S 69 OF INCOME TAX ACT 1961 Section 69 of Income Tax Act deals with the cases of unexplained investments which have been made by the assessee but not accounted for in his books o

Provisioning for Benefit in case of hospitalization expenses

sksen 22 November 2010 at 11:20

PROVISIONING FOR BENEFIT IN CASE OF HOSPITALIZATION EXPENSES As a citizen of India, I would like to bring forth an issue which I feel may be given a serious thought for the benefit of all. Slabs of individual tax payer depends upon his/her income a

The advent of APA in TP regime

PS Prabhakar 08 November 2010 at 12:17

ADVENT OF APA IN TRANSFER PRICING TAXATIONp.s.prabhakarThe arena of International taxation has always been quite complex as much as it has been exciting (for tax practitioners in particular). What with residency rules, PE provisions, TP regimes, 195

Deduction in case of a person with disability. 80U

Vijeth Kumar C 01 November 2010 at 12:53

[Deduction in case of a person with disability. 80U. (1) In computing the total income of an individual, being a resident, who, at any time during the previous year, is certified by the medical authority to be a person with disability, there shal

All about Income Tax

Vijeth Kumar C 01 November 2010 at 12:53

∂ Tax is a compulsory payment made to government for services it provides us. # Incidence: - Liability to pay Tax, ## Impact; - One who pays Tax Authority Direct Tax Indirect Tax Central Govern

ITR with air - Complete ITR

CA. Chikkerur C R 30 October 2010 at 14:58

ITR - Income Tax ReturnAIR Annual Information Report AIR is a mandatory requirement and hence everyone must comply with it while filing their ITR. In fact, several cases where the taxpayers have received notices for scrutiny of Income Tax Returns b

Self Employed - Are you ready for Housing loan

CA. Chikkerur C R 30 October 2010 at 14:58

Self Employed –Businessmen & Professionals – Are you ready for Housing Loan? This article is aiming at preparing our self employed people – Business man & Professionals, to get Housing loan/any loan from bankers for the

Ignorance of law is not an excuse -An email on Revised ITR

CA. Chikkerur C R 28 October 2010 at 15:28

Article is written in email formatDear ITR ians This email is applicable (relevant) only for people who had filed their tax returns (ITR) for 2009 & 2010. Others can ignore this Many of you have heard of this

Transfer Pricing Reforms in the Direct Tax Code

CA S.SAIRAM 25 October 2010 at 11:36

Transfer Pricing Reforms in the Direct Tax Code The new Transfer Pricing policy introduces two concepts which are novel only to the Indian tax system known as 1) Safe Harbour rules and 2) Advance pricing agreement (APA). Safe Harbour rule in