Income Tax Articles
Development agreement is also an agreement for sale subject
Recently Hon`ble High court held, The development agreement is also an agreement for sale subject to certain conditions. In short, it is an agreement for conditional sale. (i) Whether the suit at the instance of a developer is not maintainable
Hardships - Restriction of Single Email ID & Phone No to Four
The Income Tax Dept. has mandated pre-filling of Mobile No. & Email ID before filing of return of an assessee. Further one Mobile No. and Email ID can not be used for more than 4 times for incorporation in any assessee detail. This has bro
Handy MAT Provision
Objective behind the introduction of MAT: Normally, a company is liable to pay tax on the income computed in accordance with the provisions of the income tax Act , but the profit and loss account of the company is prepared as per provisions of the Co
All Taxpayers please note new changes in the Income Tax Return
Arjuna (Fictional Character): Krishna, June Month is coming to end. Now, it's time to file Income Tax Returns for the year 2013-14. The due date for filing the income tax returns is 30th S
The Union Budget-2014 - Expectations from the Salaried Case
Introduction: Union Budget for the year 2014-15 going to be presented by the Finance Minister during forth coming budget session in the Parliament. Increase the economic growth &
Solution to restricted use of email ID for 4 times only on IT E-filing Website
Recently, on www.incometaxindiaefiling.gov.in , assessee is compulsorily required to get its email ID and password registered. Further, maximum permissible usage of each of them is 4 times only. We know that most of the assessees in India do not ha
TDS - is not tedious
1. Background of deduction of tax at source 1.1 What is Tax Deducted at source i.e TDS? TDS is one of the modes of collection of taxes, by which a certain percentage of amounts are deducted by a person at the time of making/crediting certain specific
Tax & Corporate law implication on Capital reduction
IntroductionABC (Company) consider to reduce the equity share capital of the promoters of the company pursuant to which, the company will distribute land to the promoters by entering into a scheme of capital reduction sanctioned by High Court in acco
Sec 71 of Income Tax Act - A common man's dilemma
From Assessment year 2005-06, Sec .71 of the Income-tax Act, 1961 (the Act) lay down that a loss computed under the head Profits and Gains of Business or Profession shall not be allowed to be set off against the income assessable under
Karniti Part-41: Taxation of Gold
Arjuna (Fictional Character): Krishna,. Recently lot of gold is found in the world famous temple of Phadmanabhan of Kerela. Old is gold; as well gold is old mean of investment. Many other types of precious metal, stones are there bu
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