Income Tax Articles

Railway Budget For You in a Crispy Way!

Dr. Anand Wadadekar 26 February 2010 at 13:27

Union Railway Minister, Shrimati Mamata Banerjee presented the Railway Budget for 20010-11 in Parliament on Wednesday, 24th February 2010. Plan outlay raised by Rs 1,142 crore to Rs 41,426 crore. Railways not to be privatised; It will remain with the

Brief Description of the Budget Documents

shiv Shankar 25 February 2010 at 11:31

Brief Description of the Budget Documents Annual Financial Statement Under Article 112 of the Constitution, a statement of estimated receipts and expenditure of the Government of India has to be laid before Parliament in respect of every financial y

A Talk with CA Sudhir Halakhandi on Expectations From Budget-2010

Guest 24 February 2010 at 16:53

SUDHIR HALAKHANDI ON BUDGET -2010 A TALK WITH GST EXPERT AND TAX COLUMNIST CA SUDHIR HALAKHANDI ON EXPECTATIONS FROM BUDGET -2010 There are two options for the Finance Minister and if he chooses the platform to accelerate the process of introduction

Section 194 - An Aerial View

Rahul Ramesh 10 February 2010 at 15:42

Section 194 of the Income Tax Act, 1961 deals with the deduction of tax at source on payment of dividends by any domestic company. When an Indian company or a company which has made prescribed arrangement for declaration and payment of d

Notices for Recovery of TDS U/S 201 (1)

CA Pramod Jain 08 February 2010 at 13:18

The Income Tax Department has recently started processing the TDS Returns filed for the Financial Year 2007-08 and issuing notices u/s 201 (1) of the Income- tax Act,1961Each notice gives reference of financial year, quarter , Form No and RRR No.The

Sec 195- TDS on NRI

CA Prashant Gupta 08 February 2010 at 12:19

Sec195- TDS on NRI Sec 195- though its heading is ‘other sums’ it deals with payment to NRIs other then Salary income. According to Sec 195 when payment is credited or paid to any NRI for interest or other sum excluding Salary is liabl

SURVEY UNDER SECTION 133 A OF INCOME TAX ACT 1961

Amit Bajaj 30 January 2010 at 12:09

Survey in a wider sense means to scrutinize or to inspect. The power of survey under the Income tax Act has been provided U/S 133A and 133B. The provisions contained in section 133A are independent and to the exclusion of the other provisons of the a

Use of section 144A

Amit Bajaj 29 January 2010 at 11:53

Assesements under Income Tax Act 1961 are made U/S 143, 144, 147, 153. The criterias for selection of cases for scrutiny has been increased.

Reassessement under Income Tax Act

Amit Bajaj 29 January 2010 at 11:48

The power of assessement or reassessement of any income chargable to tax that have escaped assessement has been provided under secton 147 r w s 148 of Income Tax Act of 1961.If the assessing officer has the reason to believe that any income charga

SECTION 43(6) V. SECTION 45(1A)

Pavan Jain S 28 January 2010 at 14:10

CA Pavan Jain S, ACA., grad CS.Taxability of a receipt is governed by section 2(24) of the Income Tax Act (hereinafter referred to as “Act”) which define the term “Income”. In ordinary parlance, the term income connotes a rec