Income Tax Articles

Dos and Dont's for ITR-V

vidyasagar 01 September 2009 at 16:57

Dos and Dont's for printing and submitting of ITR-Vs to ITD-CPC Bangalore Please use Ink Jet /Laser printer to print the ITR-V Form. The ITR-V Form should be printed only in black ink. Do not use any other ink option to print ITR V. Use of D

MAT - Tax on Gross Assets- Whether fair and logical?

Hiral Raja 25 August 2009 at 11:33

Under the erstwhile Income Tax Act, 1961, MAT was levied u/s. 115 JB on book profits. The idea of levying MAT on book profits was to ensure that the entity pays tax at least on book profits even though the tax payable by it under the Income Tax Act c

International Tax Compilation Terminologies

Jinesh Bhagdev 22 August 2009 at 12:18

Economies are coming closer & closer due to globalization. Number of cross-border transactions has increased. Cross border transactions have led to a dynamic change in the system of taxation. New issues have aroused due to different styles of bus

Is it Simplified Direct Taxes Code?

Mahesh Kapasi 17 August 2009 at 13:59

Is it Simplified Direct Taxes Code? Income Tax is one of most complicated tax law. In order to simplify it an attempt has been made by the government to simplify it so that common income tax payers can easily understand it and comply with it. But

NEW DTC-SOME HIGHLIGHTS

CA Sudhir Halakhandi 13 August 2009 at 13:03

SOME HIGHLIGTHS OF DIRECT TAX CODE PRESENTED FOR DISCUSSION BY FINANCE MINISTER MR. PRANAB MUKHARJEE 1.THE INCOME TAX RATES IN DTC THE TAX RATE FOR INDIVIDUAL OTHER THAN WOMEN AND SENIOR CITIZENS (1). Where the total income do

NEW IT CODE- LET US HOPE FOR THE GOOD

CA Sudhir Halakhandi 12 August 2009 at 12:09

NEW IT CODE- LET US HOPE FOR THE GOOD-CA SUDHIR HALAKHANDIThe income tax Act, 1961 was introduced 50 Years back and there are so many confusions, complexities, litigation, controversies are there so there is a demand since several years to change it

How to make best use of Tax benefit - Series II

Jigar Shah 11 August 2009 at 13:03

Hi guys, this is the second edition of the series - How to make best use of Tax benefit. I am glad that you have appreciated my efforts and enjoyed reading the previous article. Mr. Einstein once said that “The hardest thing in the world to un

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