Income Tax Articles
Sec 87A-A small Rebate to Resident Individuals
Sec 87A- A small Rebate of income-tax to Resident Individuals.In Budget 2013 Finance Minister Mr. P. Chidambaram choose a middle way to give benefit to small tax payers and save a big amount of tax for tax revenue by neglected bigger slab tax payers
Service PE- Centrica India Offshore Judgement- Anlaysed
SERVICE PE- Critical Observations on Judgement in Centrica India Offshore (P) Ltd. Facts:- Centrica Plc, a company incorporated in UK, along with foreign subsidiaries in Canada, collectively referred to as Overseas Entities were engaged
Karniti Part- 36: What is "HUF" (Hindu Undivided Family)?
Arjuna (Fictional Character): Krishna, What is mean by HUF Hindu Undivided Family under Income Tax Act?Krishna (Fictional Character): Arjuna, Generally in India mother, father, son and
Accounting and Tax Implication on conversion of Co to LLP
Before starting with anything we shall have the Overview of LLP its Enactment, features, Constitution etc.Background of LLP:LLP as a structure is not new in the International Scena
Unexplained Cash Credits, Investments, Money etc.
Unexplained Cash Credits, Investments, Money etc.Compiled by CA Nishant Jain Section 68: Cash Credits Where any sum is found credited in the books of an assessee, maintained for any previous year and the assessee offers no explanation about the natur
Exemption for Leave Travel Concession u/s 10(5) of the IT Act
Section 10(5) of the Income Tax Act, 1961 (along with Rule 2B of the Income Tax Rules) governs calculation of tax exemption on LTA. Each year organizations face significant difficulty while calculating tax exemption on LTA when they carry out the yea
TDS U/S 194C: Introduction
Simplified version of section 194c: TDS on contract.Let me introduce two dummy persons Mr Ram (expert) Mrs Ram (little idea of provisions of sec 194c.)Mrs Ram: who are required to deduct TDS u/s 194?Mr Ram: Any person who is responsible to pay a resi
Introduction to basic components of salary
We are surrounded by people working with a handsome salary.What if they are made more smarter with an introduction to some of the basic components of their salary.Hope the readers find it useful!! Sr. No What are We Talking About
Friendly introduction to Income From house Property
Hello everyone!!Have you ever realized that reading a book alone is always boring as compared to reading the same book along your friends. In this new article of mine, I have tried to discuss the topic in an interactive manner to make it more intere
Section 40(a)(ia): Whether applicable to sum payable at the year end or on all sums during year
Section 40(a)(ia) of the act was introduced in the Income Tax Act, 1961 by the Finance (No 2) Act, 2004 w.e.f. 01.04.2005 with the view to augment the revenue through the mechanism of tax deduction at source. This provision was bought so as to disall
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