Income Tax Articles

Tedious TDS - Practical Issues

Niraj Mahajan 05 January 2012 at 13:18

Tedious Deduction Scheme Practical Issues In business parlance these days, the word TDS has become synonymous with tedious. The deductor and the deductees who are the affected parties in these transactions are having a to

Dematting of MF units : Should you go for it?

Prof. Bajaj 31 December 2011 at 14:06

Life has become so easy after the share trading has started in demat form , Said Romesh Acharya, a 32 year old marketing professional, working with a leading FMCG Company. I am wondering if I should also demat the mutual fund

Critical Analysis of Section 201(1A) of Income Tax Act

CA Mudit Agarwal PGDFM,MCP,IFR 26 December 2011 at 11:32

In section 201 of the Income-tax Act, for sub-section (1A), the following sub-section shall be substituted with effect from the 1st day of July, 2010, namely: (1A) Without prejudice to the provisions of sub-section (1), if any such p

Why Isn't My Money Growing?

Prof. Bajaj 26 December 2011 at 11:32

This is ridiculous !! I have been saving and investing since last 10 years now. Still the growth I can see in my money is not even peanuts!! said Anurag Srivastav, a 37 year old Senior Executive working with a renowned FMCG Company.

Understanding section 28 with latest case laws

Manish Kumar Agarwal 23 December 2011 at 12:23

The usage of section 28 to justify any expenditure or loss is rarely found. We try to substantiate the same under section 36 or 37 and sometimes not able to get the deduction due to limitations and conditions laid down in that section. Thats

DTC not Tabled - Indian Slowdown

Indraneel Sen Gupta 22 December 2011 at 17:28

The much awaited Direct tax code is being delayed further as the chances of Parliaments standing committee on finance submitting its report on the Bill in the ongoing Winter Session, which concludes on December 23, are bleak. With barely

Exemption From ITR Filing : A Mirage ?

Prof. Bajaj 21 December 2011 at 11:26

Phew !! Thank God (and thanks to Pranav Babu) I dont have to file ITR this year. It is such a painful process, Said Ajay Dixit, a 27 year old BPO Executive to his friend Kapil. And how did you arrive at this conclusion,

How to get credit for TDS

Guest 08 December 2011 at 13:05

The person who will be receiving the income should file a declaration with the payer of the income, stating that such income is taxable as the income of the specified persons who are supposed to be taxed on such income How often have you had the

Understanding Section 36 Deduction with Latest Case Laws

Manish Kumar Agarwal 06 December 2011 at 13:11

Under section 36 of the Income tax act, 1961 there are number of deductions available along with their conditions. Below we are discussing the summary of the few latest case laws in respect of section 36 which will make us understand the deducti

Understanding Dis-allowance Under Section 40 of Income Tax Act, 1961 with Latest Case Laws

Manish Kumar Agarwal 05 December 2011 at 16:56

Now a days, assesses are facing number of disallowance under various clauses of section 40 of the act by the Income tax officials. These issues were handled with due care at the time of the assessment itself so that in the case of forc