Income Tax Articles

Depreciation - an interesting aspect

Pavan Jain S 08 March 2010 at 11:18

Depreciation – a non cash expenditure allowed under Income Tax Act, 1961 following block concept. Under the block concept, all the assets falling within the same class and subject to same rate of depreciation are clubbed together and considere

Implication Budget 2010 on Business Income

CA Pramod Jain 08 March 2010 at 11:15

Tax Rates Tax rate for firms, LLP and companies remain the same as per last year's budget. • However surcharge in the case of domestic company gets reduced from existing 10% to 7.50% for the Financial Year 2010-2011. &bu

Post Budget - CA Sudhir Halakhandi

CA Sudhir Halakhandi 08 March 2010 at 11:15

BUDGET-2010 AN OVERVIEW OF IMPORTANT DIRECT TAX PROPOSALS- CA SUDHIR HALAKHANDI The union finance Minister Mr. Pranab Mukharjee has presented

Dividend Stripping u/s 94(7) of Income Tax Act

CA. Rishabh Mittal 08 March 2010 at 11:14

Dividend Stripping - Section 94(7) Suppose Record Date for Dividend / Income - 31.01.2010 Acquisition of Shares / Units of MF – Within 3 months prior to the record date (01.11.2009 till 31.01.2010) Sale or Transfer of ·

Deemed Dividend - detailed analysis

Pavan Jain S 05 March 2010 at 12:17

Deemed Dividend Deeming fiction - a fiction resorted to by parliament for defying the law of literal interpretation. Whether it be Central Excise Act, 1944 [concept of deemed manufacture u/s 2(f)(iii)] or Income Tax Act, 1961 [concept of deemed divid

The Budget and the Indian Economy

Guest 04 March 2010 at 11:38

The Budget and the Indian Economy -- Ashok HandooThe latest budgetary exercise has clearly been an attempt to r

TDS Provisions on Pension Payments

CA Pranjal Joshi 04 March 2010 at 11:36

TDS Provisions on Pension Payments CA Pranjal Joshi Introduction – TDS is the best medium of collecting tax from the citizens without much of hassles, as the responsibility to deduct tax is not on the government, but on citizen-payer

Budget sets new benchmarks for growth, equity and reforms

Guest 04 March 2010 at 11:31

Budget sets new benchmarks for growth, equity and reforms -- S. Sethuraman The Union Budget for 2010-11 marks

Discussion on proposed Amendments in Income-tax Act, 1961

Anumanchipalli Sathikonda 03 March 2010 at 10:50

Finance Bill – 2010-Discussion on Proposed Amendments - Income-tax Act. 1961 DEFINITIONS: Charitable Purpose – Section 2(15) The original clause before its amendment by Finance Act, 2008 stood as follows (15)

Highlights of the Changes in Customs in the Union Budget 201

MONISH BHALLA 03 March 2010 at 10:49

1. The following changes are made in the duty structure applicable to crude petroleum and refined petroleum products:(i) basic customs duty on crude petroleum increased from Nil to 5%. (ii) basic customs duty on Motor Spirit (petrol) and HSD