Income Tax Articles

Treatment of Spectrum Charges in Income tax act 1961.

CA kanica gupta 03 July 2010 at 13:17

OPINION IN THE MATTER OF Whether payment of Spectrum charges gets covered under section 35ABB or Section 37 of the Income Tax act 1961? FACTS The company is engaged in the business of providing telecommunication facilities (just like MTN

Can we claim HRA deduction u/s 10(13A) and Interest on housing loan u/s 24(b) simultaneously if both are in the same city?

Shudhanshu Agrawal 30 June 2010 at 12:50

I have seen that we are finding difficulties in application of Sections of Income Tax Act, 1961. The reason behind it is lack of conceptual knowledge. To solve this problem I have decided to write articles for you all on different to

Direct Tax Code There is still room for improvement

CA S.SAIRAM 30 June 2010 at 12:14

DIRECT TAX CODE – THERE IS STILL ROOM FOR IMPROVEMENT The Implementation of the New Direct tax code based on the Revised Discussion Paper will definitely be a CBM (Confidence Building Measure) from a layman point of view. The new tax rates r

CFC Rules - An Indian Perspective

taxindiaconnect 30 June 2010 at 12:07

The revised discussion paper on Direct tax code (Revised DTC) proposes to introduce the “Controlled Foreign Corporation Rules” (CFC Rules) in the case where the companies are incorporated outside India and are controlled by a tax residen

New online tax credit

Krutesh Patel 25 June 2010 at 11:22

Online Tax Credit During last few years, Income Tax Department has introduced many amendments, particularly aiming at to minimize personal interactions of Assessee with department. This is a welcome move and has made the task of Assessee easier

Tax planning for Expatriates

CA S.SAIRAM 25 June 2010 at 11:08

TAX PLANNING FOR EXPATRIATES: The term ‘Expatriate’ is an undefined word in the Income tax act 1961. However, Non residents will become exigible to Income tax on any income accruing or arising or received in India. Expatriates are of thre

Income Tax Return

K Karma 24 June 2010 at 12:44

Most of the individuals who earn enough money are generally required to give part of it back to the government, through the usual way of filling out an income tax return. They then send the necessary portion of their income to the government. But it

DTC Revised Discussion Paper - Issues, Concerns & Responses

Rahul Gupta 24 June 2010 at 10:54

On 15.06.2010, CBDT released Revised Discussion Paper on DTC. It covers 11 points on which comments were received after the release of Draft DTC provisions in August 2009. Through this article, I just try to explain the points covered by the Revi

Revised Discussion Paper: That Soothes that seethes

Vijay Kalia 21 June 2010 at 13:03

The revised discussion paper on direct tax code has been released on 15th of June, 2010 after the stormy criticism of the first discussion paper which was released in August, 2009. Most of the concerns that have been raised have been taken care of an

Documents required for PAN Application

Nilesh 21 June 2010 at 12:32

Documents required for PAN Application For Individual 1. Citizen of India Located in India Documents to be submitted as Proof of Identity and Address by Individual who is Citizen of India located in India at the time of application for PAN