Income Tax Articles

Expenditure on website development

sudha 23 September 2008 at 14:54

Expenses on Development of Website : Capital or Revenue in nature Expenses on Development may be treated as Revenue Expenditure. Enduring benefit is not the only criteria for determining whether the expenditure is of capital or revenue nature. The r

Tax on SIxth Pay Commission Arrears in FY 2008-09

RAJAN GUPTA 15 September 2008 at 16:10

Dear Friends , In this post we discuss various aspects of the tax due of arrears received /allowed to the Govt employees in light of Income tax rulesArrears to be given on the basis of sixth pay commission Report As per sixth pay commission the rep

Return of Income & Procedure of Assessment

Ashka 15 September 2008 at 12:22

Sec 139(1): submission of return of income* Being a co. or a firm(even those co’s whose entire income is exempt u/s 10, etc)* Being a person other than co, firm 1) if his total income or 2) total income of any other person in

TAX DEDUCTED ON SOURCE ON TRAVEL AGENT

RAJAN GUPTA 13 September 2008 at 18:11

query before us is"whether tds should be deducted u/s 194C for payment made to travel agent for booking of airline tickets by a company for its employee(s)"?The following general conditions should be satisfied for a payment to qualify for

Transfer Pricing- An Overview

Priyanka 10 September 2008 at 12:11

Transfer Pricing – An OverviewPriyanka Garg†1 Introduction1.1 The lopsided distribution of economic resources between different countries is the basis of international trade. With increasing globalization, related pa

To Differentiate between TDS under section 194C and 194I

CMA Jitendra Singh 04 September 2008 at 16:21

As we well aware , the deduction of tax at source (TDS) is happening for various payments made for services received in site under related sections of Income Tax Act. But, there may be chances of overlapping on provisions of tax deductions under sec

Income Tax Return After Due Date-Anlysis

RAJAN GUPTA 26 August 2008 at 12:51

Last Month was a very busy one for Income tax offices, as Offices were overcrowded bu tax payers due to last date of Filing of income tax returns for non audit cases ,specially persons who has earned salary income ,and department has to open special

EXEMPTION U/S.54-F

Arihant 22 August 2008 at 23:04

EXEMTION U/S. 54-F IS AVAILABLE IF THE INVETMENT IS MADE OUT OF INDIA.In an article published in a tax journal, an advocate and tax consultant from Ahmedabad had expressed the view that exemption from capital gains can be availed of under Sections 54

HUF Tax Plannig

Sarvesh Mani Tiwari,CFA(ICFAI) 05 August 2008 at 15:32

Typically, taxpayers tend to focus on ways of reducing only their own tax burden. This is a normal thing to do, but far greater tax savings are possible when the family as a whole is considered as a tax paying unit.By combining the leeway offered by

FBT - Amendments during initial phase of FBT

Admin 03 August 2008 at 19:25

FBT - Amendments during initial phase of FBT about estimation of value of Fringe Benefits can be considered applicable since inception of FBT. A point of view.Summary:Provisions relating to FBT are new. FBT is levied on estimated value of fringe and