Income Tax Articles

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

A salary structure that can save you taxes

Binod Kumar Sinha 29 June 2009 at 23:38

A salary structure that can save you taxesAs must be clear by now, drawing a straightforward salary will result in the maximum tax liability for an individual. To save taxes, it is important to factor in other components of compensation which might

How To E-File Returns

jyoti 25 June 2009 at 16:36

e-Filing of Returns(1) What is E-Filing? * The process of electronically filing Income tax returns through the internet is known as e-filing. * It is mandatory for companies and Firms requiring statutory audit u/s 44AB to submit the Income tax