Income Tax Articles


Recourse available against deductiabilty of TDS u/s 194A

  Manikanta Raju CA,CWA,(CS)    18 December 2009 at 18:55

This topic is relating to problems faced by General Insurance companies providing third party insurance:-In most of the cases the accident victim in road accidents are poor and road side people. They will receive money from insurance companies by way



A breif note on IT scrutiny

  Manikanta Raju CA,CWA,(CS)    18 December 2009 at 18:53

The below mentioned article broadly covers all important aspects relating to scrutiny proceedings carried out u/s 143(2)/(3) of the Income Act 1961. What is a scrutiny? It is not possible to the Income Tax Department to make regular assessment of al



Clarifications to issues some of the issues relating to TDS:

  CA Anand Sarda    17 December 2009 at 13:51

Clarifications to issues some of the issues relating to TDS: 1) Whether capitalization of interest payable attracts TDS U/S 194A?A) Yes, Capitalization of interest payable attracts the provisions of TDS. TDS is to be made on interest payment regardl



MAT in Simple Way

  CA Ayush Agarwal    16 December 2009 at 13:56

Friends, I Hav Tried To Present MAT in simple Way.1. Normally companies are maintaining two set of books of accounts.2. Some times income computed under income tax law will be zero or negative. In this situation the company will escape from payment o



An overview of Section 194 J of Income Tax

  Amol Gopal Kabra (CA,CS,DISA)    16 December 2009 at 13:55

Section 194 J – An overview (Effective 1.10.2009) Section 194J of the Income Tax Act, 1961 has the heading a “Fees for Professional and Technical Services”. However the Section covers the following categories 1. Fees for Profe



Section 194 C of Income Tax, An overwiew.

  Amol Gopal Kabra (CA,CS,DISA)    15 December 2009 at 15:14

Section 194C - An overview (Effective 1.10.2009) Section 194C of Income Tax Act, 1961 covers “Payment to Contractors and Sub-contractors”. Even if the words contractors and sub-contractors are given, it also covers other types like works



WEALTH TAX AT A GLANCE

  Rahul Ramesh    07 December 2009 at 10:08

WEALTH TAX AT A GLANCE Wealth Tax Act came into force on 1st April 1957. It is applicable to the whole of India. Under this Act tax is charged at the rate of 1% on the amount by which the net wealth of the assessee exceeds rupees fifteen lakhs on th



Appeal under Income Tax Act -I

  Srikant    15 October 2009 at 12:09

Appeal under Income Tax Act,1961 Sections Covered1) 246A: CIT (Appeals)2) 254: ITAT ---Final Fact Finding Authority3) 260A: Supreme Court ---On substantial Question



Book Profit U/S 115 JB

  Srikant    10 October 2009 at 15:48

Book Profit under Section 115 JBBook Profit = Net Profit + / - Few adjustments. Question:Can you tell me whether there is any restriction to compute net profit? No, because it depends upon various Accounting Policies which may vary from industry to



TRYST WITH THE DEPARTMENT - BLOOD (PRESSURE) RAISING ROUTINE

  PS Prabhakar    07 October 2009 at 18:36

TRYST WITH THE DEPARTMENT – BLOOD (PRESSURE) RAISING ROUTINE It is not very rarely that we see our brothers and sisters in legal or medical professions go on some kind of an agitational mode to express their displeasure against certain polic




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