Income Tax Articles

Income tax Scrutiny Assessment

CA Satish Badve 29 November 2011 at 13:54

Scrutiny of the income tax return is a regular feature to find out whether the income declared in the income tax return of relevant assessment year is correct and the income tax has been paid on the same.

Income from House Property - Direct Tax Code

Selvakumar Selvaraj 21 November 2011 at 13:34

As we are expecting the DTC be implemented from 1st April 2012, we have to be familiar with the DTC provisions. In general the DTC looks and be simple but it is complicated unless otherwise if we have studied the entire provisions of the act becau

Understanding Transfer Pricing with Latest Case Laws : Part 2

Manish Kumar Agarwal 14 November 2011 at 12:35

Now a days, during transfer pricing assessment , the TPO are coming with unique ideas like valuation of intangibles , corporate guarantees, ratings provided by CRISIL etc. this all leads to corporate in a mysterious situation. Below are the summ

Analysis of Indian Taxonomy - Deficiencies & Implications

Nabeel 14 November 2011 at 12:34

Dear Friends, MCA has released the Revised Taxonomy on August 27, 2011. It has rectified Taxonomy Element related deficiencies reported by various stakeholders. However, the followin

Will govt stick to proposed DTC

Guest 11 November 2011 at 12:22

The current situation indeed is compelling the taxpayers to expect that the government may consider some tax reliefs, especially since the coming budget may be the last one to be presented by the government before the next general elections High i

Wealth Tax part 1

*RENU SINGH * 07 November 2011 at 12:08

Wealth tax :- As per section 3(2) of the wealth tax 1957, from 1993-94 , every individual , HUF and company is liable to pay wealth tax. Wealth tax is charged on the basis of The quantum of net wealth chargeable to tax under the Act. The time

Section 44 AB

M.R. PRASAD 05 November 2011 at 10:23

Section 44 AB Inserted by the Finance Act, 1984, w.e.f., 01-04-1985: A boon to C.As Practice. Up to that time, except Bank Audits, Company Audits, there is not much difference between work handled by the Income Tax Practioners, (TAX) Advocates

India Swiss Confederation Amendment 2011

Vrinda Aghi 01 November 2011 at 11:19

Protocol amending the agreement between Swiss confederation and the Republic of India for avoidance of Double Taxation: A critical analysis In order, to unearth black money stashed away in Swiss banks, India was awaiting Switzerlands ratif

Corpus meaning | Definition of Corpus Fund

CA VISHAL RANA,CS,B.Com,AMFI 28 October 2011 at 11:17

Corpus meaning: Corpus Fund The term corpus is often confused and misunderstood. The literal meaning of the term corpus is the main part/organ of a body.

PAN Laws in India

CA. Brijesh Baranwal 20 October 2011 at 16:39

PROVISIONS REGARDING PAN (PERMANENT ACCOUNT NUMBER) IN INDIA The Permanent Account Number is allotted by the Income Tax Department. No person can have more than one PAN. PAN is required for following transactions. for filing Income Tax retur