Income Tax Articles
Income - Tax - Deduction
INTRODUCTIONOften you find yourself holding your Income in one hand and Taxes in other. Income Tax Deduction is one such aspect which is ignored by large.What if you can replace your taxes with deductions (Income Tax Deductions)? Wouldnt it be
Due date for filling Revise TDS Return
On filling income tax return, one of the crucial part is to fill the TDS claim during the relevant financial year which should be match with TDS Credit reflects in Form 26AS.On non-matching of TDS claimed with TDS credit reflected in Form 26AS, deman
Treatment of MTM losses on forward exchange contract
IntroductionForward Exchange Contract is one of the foreign exchange derivatives (like future contracts, options, swaps, forward exchange contracts etc.) commonly used in India by business firms to protect itself against the risk of fluctuations in f
Process for PAN application for Non Resident in India
Indian citizen residing abroad, foreign citizen and other than individual (like company or trust or firm etc.) who wants to apply for PAN should fill the PAN application 49AA. Basically PAN application for Non Resident can be bifurcated into three c
Interest Under Section 234A\B\C
We all are aware that when the section 234A\B\C, but only few of us are able to compute accurate Interest under these section.The purpose of this article to cross verify the interest calculated by system against our manual workings. Some readers mayt
Benefits of recognition of Inhouse R & D Depart with DSIR
What is In-House R&D RecognitionThe Department of Scientific & Industrial Research (DSIR), which is under the Ministry of Science & Technology is operating a scheme for granting recognition and registration to in-house R&D set up of C
Sec. 36(1)(iii) and principle of commercial expediency
Section 36(1)(iii)- Principle of Commercial expediency As per Sec 36(1)(iii), Deduction shall be allowed for The amount of interest paid in respect of capital borrowed for the purposes of business or professionFor the purpose of claim
Benefits related to Research & Development expenses under Income Tax Act
KARNITI Part 68Benefits related to Research & Development expenses under Income Tax Act.Arjuna (Fictional Character): Krishna, ISRO succeeded in Mars mission by launching the largest rocket GSLV Mark III in space after lot of efforts and spending cro
Construction PE- Finer Aspects
Article 5(3) of UN model provides for existence of construction PE as under;- A building site, a construction, assembly or installation project or supervisory activities in connection therewith, but only if such site, p
Frequently Asked Questions TDS on Non residents u/s.195 of Income tax act
Introduction: Tax Deducted at Source (TDS) is the first way of collection of any taxes. Under Income tax also TDS is the very important tax collection method. TDS under
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