Income Tax Articles

Tax Treatment to Doctors - Its all about Doctors

CA. Chikkerur C R 21 July 2011 at 13:51

Both Self Drugging & Self Tax Planning are not advisable Doctor is one of noble professional in the society & helps the society to be a healthy. But this professional will not be spared & will be taxed for the income generated

Exemption From Filing of Income-Tax Return : CBDT's FAQs

Akshay Sharma 20 July 2011 at 13:45

What is the purpose of this notification and who are proposed to be exempted from the requirement of filing of the return? 1. The primary objective of this notification is to exempt those salaried taxpayers from the requirement of filing income-tax

Understand Your Form 16

TaxYogi 20 July 2011 at 13:45

Understand Your Form 16 By now most salaried employees must have received their Form 16 from their employers. Now its time to file the return. Though we know that Form 16 is for tax filing but many of us still find it hard to understand t

Section 50 C

Manali Agrawal 19 July 2011 at 13:24

As Albert Einstein said "The hardest thing in this world is to understand income tax." And Vanya Cohen said"When there's a single thief it's robbery and when there are thousand thieves its taxation." Entry 82 of Indian Co

Indian Assets held by Mauritius Co. treated as sold by US Co

Vivek Sethia 19 July 2011 at 13:23

Whatever strength one may have, but if things are not planned meticulously to use strength, results may go haywire. The latest example of same comes in the form of dismissal of Writ petitions filed by Aditya Birla Nuvo Limited (F

A personal Letter to Salaried Class on recent exemption

CA. Chikkerur C R 11 July 2011 at 12:40

A personal Letter to Salaried Class on recent exemption notification No need to wear Helmet & ride. If accident happens, we will not give you insurance" Dear Salary ITRians Hope you all had read recent notification by IT dept on ex

27 FAQs on Tax Deduction and Collection Account Number (TAN)

Harish Chandra 06 July 2011 at 13:18

Tax Deduction and Collection Account Number (TAN) Frequently Asked Questions and Answers (FAQs)

Brought Forward Business Losses can be set off against STCG

CA Aman Gupta 01 July 2011 at 13:37

Digital Electronics Ltd. vs. Addl. CIT (2011) 49 DTR 484/135 TTJ 419 (Mum.)(Trib.) Brief Facts In the course of assessment proceedings, the AO noted that the assessee has set off brought forward losses against short-term capital gains on sale

Deferred Tax Liability

CS Ankur Srivastava 25 June 2011 at 20:18

Deferred Tax Liability is the difference between the provision of tax and actual tax. It is the timing difference that arises because of the tax calculated as per Companies Act and Income Tax Act. Example:- Provision for Tax in the P/L was Rs.

Amendment in the process of issue of TDS Certificate

CS Bijoy 22 June 2011 at 12:24

The Department of Income Tax of India make amendment in the process of issue of TDS certificate by CIRCULAR NO. 3/2011 [F. NO. 275/34/2011-(IT-B) DATED 13-5-2011. Section 203 of the Income-tax Act 1961 ("the Act") read with the Rule 31