Income Tax Articles
DT Fundas - understanding of legislative system
let us understand our legislative system. Constitution of India is the supreme law of India. India has been further divided into 2 categories by constitution i.e. Central India (India as a whole) and Independent states (States). Parliament has been e
Black Money - Income Tax weapon of Search & Seizure becoming Stingless!
Today, I intend to discuss the most powerful and intrusive tool of Search & Seizure that the Income Tax Department possesses. In fact, in general public perception, the Income Tax Department is better known for its 'raids' on corporate ho
Highlights of Budget Finance Bill 2014 Part IV (Section -I)
For Previous Articles :PART - IPART - IIPART - IIIPART - IV**Miscellaneous Provisions (section I) Income of Charitable Trust and Institution Section -11 & Section 12 Principal Commissioner or the Commissioner may also by a
Why & for whom Income Tax return Filing before 31st July is mandatory?
Karniti Part: 47Why & for whom Income Tax return Filing before 31st July is mandatory? Arjuna (Fictional Character): Krishna, 31st July 2014 is near and many taxpayers are hurrying up for filing income tax returns. What are the poin
Section 80C deduction as per Income Tax Act
There are different confusions regarding the deduction u/s 80C of the Income Tax Act for certain investments. So to remove the confusions and rumors regarding the section. I am presenting a disclosure regarding the section in details.Note:- Ple
Highlights of Budget -- Finance Bill, 2014 PART - III
For Previous Article PART - I Click HereFor Previous Article PART - II Click HerePART - III**International Tax Characterization of income in case of Foreign Institutional Investors (FII) Section 2(14) Definition of the term Capital Ass
Union Budget - I T simplification and aam aadmi ignored
Modi governments first budget has belied the hopes of aam aadmi especially on Income Tax as an increase of Rs. 50,000 in exemption
TDS on Contractors and sub-contractors
I In recent days there r common question and confusions regarding section 194C. So I am presenting the article from my side to get rid out of all the confusions regarding Contract, Rates of TDS, Liability where tax is arise etc. Deduction of ta
Highlights of Budget - Finance Bill, 2014 - PART - II
For Previous Article PART -I Click Here PART - II**Capital Gains Tax Definition of Short term Capital asset Section 2(42A) Section 2(42A) has been amended to provide that securities (other than a listed security), listed or unlisted units and
Section 51, Monies Forfeited Characterized With Other Sources
Finance bill 2014 has proposed to enhance the area of section 51, Forfeiture of advance money received in process of transferring a capital asset. The modification will elevate tax collec
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