Income Tax Articles

Old vs. New Tax Audit Report - A Y 2014-15

Posted by CA Pardeep Chanana 28 June 2016 111211 Views

Changes made in Tax Audit ReportAssessment Year 2014-15 Sr. No. Particulars Old Report New Report Changes are reflected by Bold Letters 1. FORM NO. 3CA 3. In * my/our opinion an

Ready reference of case laws relevant for November 2015

Posted by CA Shishir Agrawal 28 June 2016 16284 Views

CA FINAL DIRECT TAX (Income Tax) Ready reference of case laws relevant for November 2015About Notes: The case laws are summarized from supplementary study material issued by The Institute of Chartered Accountants Of India for the Final Examination to

TDS Rate on making Foreign Payment

Posted by CA. Amit Daga 25 June 2016 17076 Views

How to determine applicable TDS Rate on making Foreign Payment : TDS on foreign payments depends on two conditions. First, whether deductee provides a valid TRC or not? Second, whether deductee holds a valid PAN in India or not? Below is the matrix

Capital Gain Tax Simplified

Posted by CA Pallav Singhania 24 June 2016 59865 Views

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

ICDS, the basic questions

Posted by CA Sripriya K 24 June 2016 32041 Views

1. What is ICDS? The Ministry of Finance has issued ten Income Computation and Disclosure Standards (ICDS), which is a new framework for computation of taxable income 2. Who does it apply to ?It applies to all assesses in relation to their income und

Deferred Tax Introduction

Posted by Shubham Gupta 24 June 2016 10684 Views

Deferred tax When we look out for the meaning for "Deferred�" it means to Postpone or delay. Similarly deferred tax is also liability to pay tax in future that we have postponed and have to reflect in our balance sheet.With coming of finan

Already retired? Then this is what you have to follow now!

Posted by CA ANKIT GUPTA 24 June 2016 7912 Views

If you are already retired, what you really need is a retirement solution. Let�s begin by discussing the uniqueness associated with building a portfolio for retirees.Firstly, the importance of capital preservation gets magnified manifold. The r

Common mistakes in filling of Income Tax Return

Posted by Rinav Ashok Khakhar 20 June 2016 14256 Views

The accurate and complete filling up of the relevant column or detail in the Income Tax Return (ITR) form is most crucial for correct calculation of income.

Taxation on Investors and Traders

Posted by Munim.in 17 June 2016 9238 Views

Investor or Trader?According to Central Board of Direct Taxes(CBDT): Investor: anyone who invests with the intention of earning through dividends Trader: anyone who buys and sells with the intention of profiting from

Section 44AD of the Income tax Act after Budget 16

Posted by MANSHI BAID 17 June 2016 31975 Views

SPECIAL PROVISIONS FOR COMPUTATION OF PROFIT AND GAIN OF BUSINESS ON PRESUMPTIVE BASIS(After Budget 2016)This section is nothing but provides a relaxation to the tax payers to declare income on presumptive basi