Income Tax Articles

Taxability for concession in school fees or scholarship

Deepak Agrawal 22 February 2013 at 11:21

NOTE ON PERQUISITE TAXABILITY FOR CONCESSION IN SCHOOL FEES OR SCHOLARSHIP GIVEN BY THE EMPLOYER TO THE CHILD OF EMPLOYEE: 1. Taxability of Perquisites: As per section 17(2) (iv), Perquisite includes, any sum paid by the employer i

FAQ'S on Fema

VIKAS.A 20 February 2013 at 11:49

FAQS ON FEMA Friends I am going to discuss few FAQS on FEMA, ntroduction : 1. The legal framework for administration of foreign exchange transactions in India is provided by the Foreign Exchange Management Act, 1999. Under the Fo

Transfer Pricing(Int Taxation) make it easy

Saurabh Maheshwari 16 February 2013 at 08:28

Short Communication with the readers: On this new day , with new idea and new enthusiasm I have again come up with an Article on somewhat a new topic called as Transfer Pricing. The Article has been written in a style which in my opinion will s

MAT make it easy Part-2

Saurabh Maheshwari 04 February 2013 at 10:55

In continuation of my precious Article.I am writing once again for discussing some advance aspects in MAT. In my previous Article I have discussed the following aspects viz Purpose of introducing MAT, MAT and Total Income & Tax

A Quick glance on Exemption from Capital Gain

CA Prashant Gupta 25 January 2013 at 18:12

People gets money when sell property, BUT, they also get tension when they come to know that this money brings a big Capital Gain tax on them. Income tax gives some exemptions from this capital gain. I

Section 80CCG - Rajiv Gandhi Equity Savings Scheme

Deepak Agrawal 25 January 2013 at 18:09

Finance Act, 2012 has inserted section 80CCG in the Income Tax Act, 1961 (the Act) with effect from Assessment Year 2013-14 (Current Financial Year 2012-13) to encourage new investors in the equity market. The details of the

Implementation of GAAR - Postponed to April 1, 2016

PRIYANKA WADHAWAN 22 January 2013 at 15:36

Dear All, We are pleased to inform that the Ministry of Finance has decided to postpone the implementation of GAAR and shall be applicable from 1st April, 2016.

Centralised Processing of Statement of TDS Scheme, 2013

CA Sourabh Agarwal 19 January 2013 at 15:59

Centralised Processing of Statement of TDS Scheme, 2013 (Notification 3, Date of Issue 15-01-2013) Ministry of Finance has introduced the scheme for Centralised Processing of Statement of TDS on 15th January, 2013 in exercise of powe

MAT - Make it easy

Saurabh Maheshwari 19 January 2013 at 15:59

Normally, a company is liable to pay tax on the income computed in accordance with the provisions of the Income-tax Act, 1961 but the profit and loss account of the company is prepared as per the provisions of the Companies Act, 1956. There were

Recent Changes in GAAR

Rahul Chilal 19 January 2013 at 15:59

Introduction: The Ministry of Finance had come out with General Anti Avoidance Agreement (GAAR) in this buget. But due to its opposition from many quarters especially the FIIs(Foreign Institutional Investors), Government formed a expert Com