Income Tax Articles

Its all about TRANSFER PRICING

Manikanta Raju CA,CWA,(CS) 18 June 2010 at 12:43

Key Notes: Transfer pricing relates to the pricing of transactions (such as transfer of goods, services, intangibles and funds) that take place within affiliate segments of a group company in different tax jurisdictions. Transfer pricing is typica

TDS Changes in Income Tax Rules (6th Amendment) 2010

Krishan 07 June 2010 at 12:08

A change again… One by one now it’s a 6th amendment to the Income Tax Rules, 2010 as notified on 31st May 2010 What a power to the government under section 295 of the Act…. On 18th February 2010 it was their first amendment a

TDS Rule Amendments

Kapil Nayyar 04 June 2010 at 12:57

By Kapil Nayyar and Neha Srivastava Nayyar Maniar & Associates AMENDMENT IN TDS RULES A. INTRODUCTION The Central Board of Direct Taxes (CBDT) has amended the rules relating to Tax Deducted At Source (TDS) vide Notification No. 4

Systems of Taxing income - An Overview

taxindiaconnect 03 June 2010 at 13:24

The Hon’ble Mumbai Branch of ITAT ( The ITAT Mumbai) in the case of Ashapura Minichem Limited VS Assistant Director of Income Tax Mumbai has analyzed the various concepts / principle of determining the taxation of income prevailing worldwide.

Permanent Establishment An Introduction

Kapil Nayyar 02 June 2010 at 11:34

With the globalization of world economies, the concept of Permanent Establishment (PE) has gained significant magnitude both in India and worldwide due to its direct impact on the tax revenue generated by a Country.The PE concept is a measuring tool

Taxability of Fees for Technical Services In India pursuant

taxindiaconnect 31 May 2010 at 13:21

Back Ground The Hon’ble Income Tax Appellate Tribunal Mumbai ( ITAT Mumbai ) in ITA no 2508/Mumbai/08 in the case of Ashapura Minichem Limited Vs Assistant Director of Income Tax, Mumbai has delivered a landmark decision on the issue of incom

All about Presumptive Taxation

Rahul Poddar 19 May 2010 at 12:37

Presumptive Taxation Taxation is the most essential wing of the government’s revenue. It contributes a bulky amount to the government to meet the social and economic need of the nation. When collecting tax from the public the government tr

Gift u/s 56(2)

Rahul Poddar 19 May 2010 at 12:37

TAX TREATMENTS ON GIFT The amendment of Sec 56(2) of the income tax act has intensely changed the scenario of the tax treatment of gifts received by an assessee. The amended provision states that · Where any sum of money exceedin

TDS Amendments and its Impact

Manikanta Raju CA,CWA,(CS) 12 May 2010 at 16:35

Some says TDS is a simple, logical and interesting area. On the other hand most of the people are of the opinion that it is Vast, difficult and complicated. For fun professionals says TDS is a TEDIOUS topic (Both TDS and tedious have same pronunciat

Carefully laid investment plans u/s 80C

Manikanta Raju CA,CWA,(CS) 12 May 2010 at 16:35

As per the latest budget amendments, for the AY 2011-12 a deduction of INR 20,000 has been proposed for investments made in notified long term infrastructure bonds. This deduction is in addition to the deduction available under section 80C in case o