Income Tax Articles

Correction in Challan Paid

Manish Kumar Agarwal 20 September 2011 at 13:47

Summary : Earlier correction was not possible in challans while making errors at the time of payment. Same is now possible from bank, but you should contact the bank within 7 days. Challan Correction Mechanism Under OLTAS (On Line Tax Accou

Problems and Solutions in E-TDS

SIVARAMAN and SUNDARAM 19 September 2011 at 18:21

E TDS PROBLEMS AND SOLUTIONS The topic of TDS (Tax Deducted At Source) is most important now days. If the assessee does not get the Tax credit in his Income Tax Return for the TDS deducted by the deductor, this may result in additional

Tax Audit - A Glance (Part -III), Exhaustive reporting on 3CD

Karan Teli 17 September 2011 at 22:34

Greetings of the day to every one!!! I deeply apologise for the delay in writing my article but as you all know that as the Tax audit season going on, I am also engrossed in it and somehow tried to write this article with great efforts

Tax Audit - A Glance (Part -II)

Karan Teli 10 September 2011 at 14:01

Greetings of the day to every one!!! First of all, thank you every one for the comments which I have received on my part -1 of TAX AUDITS A GLANCE. In the first part of this series, I had discussed about what provis

Tax Audit - A glance

Karan Teli 03 September 2011 at 13:04

Hello everyone. Happy Ganesh Chaturthi To all.... These days we all are busy with our tax audits schedules and many of the small firms have their most earnings and survival on tax

TDS on Provision for Expenses

Manish Kumar Agarwal 30 August 2011 at 12:11

One of the most disputed arguments between assessee and income tax department is that whether payments made towards specified expenditure attracts disqualification u/s 40(a) (ia) and applicability of this section to provisions made at the year end a

Visit Days of NRIs to be Excluded For Finding Residential Status

CA. Anuj Gupta 16 August 2011 at 19:19

The moment one become resident in India as per Income Tax Act, his global income becomes taxable. If one is Non Resident , his income earned outside India is not taxable . So, for a non resident , there is always danger of taxation of global income

Deduction of Tax from Salary

jatin kapoor 12 August 2011 at 16:01

SECTION 192 : DEDUCTION OF TAX FROM SALARY SECTION 192(1): Tax to be deducted at average of income-tax The total tax to be deducted, on the estimated income of the employee for the relevant financial year, is divided by the number o

Petrolium Income-tax

Selvakumar Selvaraj 11 August 2011 at 11:53

Why dont we introduce Petroleum Income-tax In India? We all know that Petrol costs goes up day by day probably intra-day in future. Everybody is struggling to get p

TDS on Reimbursement made to NRI

Amit 09 August 2011 at 11:37

Query-Mr A is an employee of XYZ foreign Company . He rendered his services to all the companies with in the same group. One of the group company is situated in India. So for performing his job he has to visit Indian Company. The important things