Income Tax Articles

I T Scrutiny on the basis of AIR

Mahesh Kapasi 10 August 2009 at 14:00

The Annual Information Reports (AIR) under Income Tax Forms is meant for high value transactions but these limits at present are too low especially in view of continuing inflationary trends beyond the control of government and manifold increase in

How to make best use of the tax benefits - Series I

Jigar Shah 05 August 2009 at 02:17

An individual assesses always wonder what be could his tax implications and the amount of taxes, he would end up paying at the end of the year. People from commercial background find it relatively easy to crack than individuals from other background.

Mumbai ITAT in A.M.Tod Company upholds constitutional rights

G Anandhi 27 July 2009 at 13:19

In the Income-tax Appellate Tribunal, Mumbai Bench in the case of A.M.Tod Company India Pvt. Ltd. vs. The Income-tax Officer in ITA No. 492/ Mum/2006 dated 24th June, 2009 for Assessment Year: 2002-03.By G Anandhi, Grant Thornton Hyderabad, IndiaInt

Tax Deduction at Source

CA Lalit Mohan Agarwal 23 July 2009 at 13:43

Tax deduction at source is a method of collecting taxes on behalf of the Government at the time of payment or credit. The Income-tax Act casts a legal responsibility on the deductor to deduct tax on the correct amount, at the correct rate and deposit

Concept of Mutuality-a discussion

Dilip K Raina 18 July 2009 at 12:28

In view of the circular no.11/2008 dated 19-12-2008 issued by the department of Income Tax to make certain changes with respect to taxation of certain assesses claming exemption under section 11 as charitable institution as well as mutual organizati

Brief Discussion on Proposed Amendments in IT Act-Business

Anumanchipalli Sathikonda 14 July 2009 at 19:25

Income-tax Act. 1961. CORPORATE TAX PROPOSALS Rates of Tax for AY 2010-2011 Ø Basic rate of tax for Domestic and Foreign Companies, Firms remain unchanged @ 30%.Dividend Distribution Tax also remains unchanged @15%.Ø Rate

TAX UPDATES

CA Lalit Mohan Agarwal 10 July 2009 at 20:40

1 TAX UPDATES 1. Black money hunt begins The government has made the first move to track down individuals and entities that have slashed away black money in offshore banks. Th

TAXATION OF LIMITED LIABILITY PARTNERSHIP (LLP) INDIA

BINOY CHACKO 06 July 2009 at 18:51

TAXATION OF LIMITED LIABILITY PARTNERSHIP (LLP) INDIA Finance Bill 2009 has brought LIMITED LIABILITY PARTNERSHIP (LLP)in line with a ‘FIRM’. This will enable the LLP taxed as a Partnership. LLP form of organization will get the advan

Irritants in Taxation

Vijay Kalia 04 July 2009 at 16:48

Irritants in Taxation: ---------------------------There are many inputs being given by trade and industry as well as by the experts on income tax for consideration of the finance minister. The major consultancy firms have recently published their c

Easy Steps to File Tax

udit agrawal 01 July 2009 at 21:46

Following are the 10 easy steps for Tax filing. Step 1:Identify your sources of income under some income heads.Step 2: Keep documents readyStep 3: Compute the Gross Total Income (GTI)Step 4:Calculate deductionsStep 5:GTI minus deductions.Step 6: Cal