Income Tax Articles

Analysis of Retirement benefit (Gratuity)

Rahul Gupta 18 March 2008 at 19:02

Analysis of Retirement benefit (Gratuity)March 14, 2008Meaning :-Gratuity is a statutory benefit paid to the employees under the Payment of Gratuity Act, 1972 who have rendered continuous service for at least five years. The employee is eligible for

How to claim HRA & house loan benefits

CA Praveen Chopra 17 March 2008 at 14:36

How to claim HRA and home loan benefits[Submitted by CA. Praveen ChopraB.Com, ACAGandhidham , Gujarat]March 17,2008The documents required to claim deduction and implications of joint ownership of property. Documents required for claiming deduction I

Search and Survey

CA Praveen Chopra 15 March 2008 at 22:46

[ Submitted by CA Mr. Praveen ChopraFriends Group Of Companies, Gandhidham ] · Search and SurveyPower to carry out search under section 132 and survey under section 133A are important tools in the armoury of the Income-tax department for de

Tax deduction for salaried employees

Jitender Garg 15 March 2008 at 13:23

Tax deduction for salaried employees FOR salaried employees it is possible to get tax deduction from the employer in respect of investments made or amount spent in terms of the provisions contained in Section 80C of the Income-tax Act, 1961.The emplo

MAT

Manjunath 10 March 2008 at 16:39

Minimum Alternate TaxThe MAT credit is available in respect of MAT paid under Section 115JB of the Income-tax Act with effect from assessment year 2006-07. The amount of MAT credit would be equal to the excess of MAT over normal income-tax for the as

Guidance Note on Tax Audit

Manjunath 07 March 2008 at 11:05

Guidance Note on Tax Audit - Issued by ICAI THE TURNOVER OR GROSS RECEIPTS IN RESPECT OF TRANSACTION IN SHARES, SECURITIES AND DERIVATIVES MAY BE DETERMINED IN THE FOLLOWING MANNER.(a) SPECULATIVE TRANSACTION: A speculative transaction means a trans

Budget 2008.. A write up

Admin 04 March 2008 at 09:56

MAHESH KAPASI & CO. Mail: maheshkapasi49 @ gmail.comChartered Accountants Phone: 2686 8147

Budget 2008-09 in nutshell

sai are 01 March 2008 at 17:01

1.Income Tax 1.1 Personal Taxes: Increase in exemption limit from Rs.1.10 Lakhs to 1.50 Lakhs for the year 2008-09. Substantial benefit to Individuals. Minimum savings is Rs 4,000 for a year . No Change in the Tax rates. No withdrawal of Cess Cha

A fine balance, Mr Chidambaram

Darshu 01 March 2008 at 17:01

This Budget's emphasis on agriculture, education and health are in line with the objectives of the 11th five-year plan of increasing investments in social infrastructure. The first positive has been favourable macro-economic conditions-an 8.7

Budget 2008 Some welcome proposals under Income Tax

Admin 01 March 2008 at 16:43

Budget 2008 Somewelcome proposals under Income Tax1. Last date for furnishing returns of income is proponed by onemonth: suitable amendments are made U/s 139(1) and 115WB of the Act for fillingof the Income Tax and fringe Benefit Returns of Inco