Income Tax Articles

Personal Letter to ITRians on Sec 80CCF

CA. Chikkerur C R 30 December 2010 at 16:23

TO : ITR Individuals India Hi All Hope everyone is doing great & busy in calculating risk & returns on Tax Investments. I know December & January months are meant for investment & reducing tax liability. Most of you had already

A Study on HRA - It is not an Automatic Exemption

CA. Chikkerur C R 29 December 2010 at 13:17

CA. Chikkerur CR | B.Com, MBA, CA, DISA & LLB A STUDY ON HRA IT

Disallowances in case of Interest free loans granted

varun jain 28 December 2010 at 13:44

Disallowances in case of Interest free loans given by a company to a sister concern or others. In this regard it is pertinent to note that it is a well settled law that notional incomes are not taxable under the Income Tax Act, 1961. The Orissa

All you want to know about TDS

CMA. CS. Sanjay Gupta 27 December 2010 at 11:50

TDS is one of the modes of collection of taxes, by which a certain percentage of amounts are deducted by a person at the time of

Prerequisites for Claiming Bad Debts

varun jain 23 December 2010 at 12:43

Prerequisites for Claiming Bad Debts In order to claim deduction of bad debts u/s 36(1)(vii) following conditions must be cumulatively satisfied: 1) It must be a DEBT: A debt is a present obligation to pay an ascertainable sum of money, wheth

Nothing's certain but death and taxes

CA. Chikkerur C R 15 December 2010 at 17:01

Advance Tax – Better to payOld saying; - Nothing's certain but death and taxes, Every Income Tax Asseesee whose Tax liability is more than Rs 10,000 must pay Advance Tax. Income Tax Assessee can be any one – Sala

DTC Bill, 2010 Decoded

CA RUPESH LOHADE 13 December 2010 at 12:23

Background & Introduction They say the only thing that doesnt change is change itself and that is true for Direct Tax Laws. The taxation laws in our country undergo many changes. Direct Tax Laws is an important area of c

Impact of Direct Tax Code on Power Sector

CA. GAURANG THAKKAR 08 December 2010 at 13:38

Direct Tax Code and its Impact on Power Sector When archaic rules have to be replaced with new ones, the changes must be dramatic and path breaking. --- Union Finance Minister Pranab Mukherjee at the time of releasing the draft D

Section 194B

Rahul Ramesh 06 December 2010 at 13:04

Section 194B TDS on Winnings from Lottery According to section 194B of the Income Tax Act 1956, The person responsible for paying to any person any income by way of winnings from lottery or crossword puzzle or card game and other ga

Whether higher stock declared to bank attracts Section 69?

Amit Bajaj 01 December 2010 at 11:17

WHETHER HIGHER STOCK THAN ACTUAL DECLARED TO BANK ATTRACTS ADDITIONS U/S 69 OF INCOME TAX ACT 1961 Section 69 of Income Tax Act deals with the cases of unexplained investments which have been made by the assessee but not accounted for in his books o