Income Tax Articles

Digest of SC Judgement Oct 2006- June 2007

Rupesh Srivastava 20 November 2007 at 23:36

Digest: Very Important Judgements of Supreme Court. DigestOct 2006- June 2007 1. Attribution of profits to the Permanent Establishment The Supreme Court has held that since there is no specific provision under the Act to compute profits accruing

E-payment of taxes : FAQ

Aisha 12 November 2007 at 16:48

e-Payment of Taxes e-Payment facilitates payment of direct taxes online by taxpayers. Toavail of this facility the taxpayer is required to have a net-bankingaccount with any of the banks listed below, which are the only banksoffering this facility at

At Arms Length- Landmark Ruling of ITAT on Transfer Pricing of Captive Software Company

Abhiroop 12 November 2007 at 13:17

At Arms Length- Landmark Ruling of ITAT on Transfer Pricing of Captive Software Company- Mentor Graphics (Noida) Pvt Limited v/s DCIT (Delhi) Background In a landmark Ruling pronounced in the open court by the Income Tax Appellate Tribunal (Tribun

Capital Gain & Taxes...

Aisha 07 November 2007 at 14:25

With the boom in the economy witnessed over thepast five years, many salaried individuals and businessmen are leftwith surplus cash. It is not uncommon for people to invest inproperties and to dispose them off when the value appreciatessignificantly.

Steps to Computation of TOTAL INCOME

CA Guru M 07 November 2007 at 10:35

Income-tax is levied on an assessee's total income. Such total income has to becomputed as per the provisions contained in the Income-tax Act, 1961. Let us go step bystep to understand the procedure of computation of total income for the purpose of l

Tax savings a write up..

Aisha 06 November 2007 at 18:34

Tax-saving is a year-long business. This is because the returns matter as much as the tax saved through the investment. Death and taxes are a certainty. But, financial planning takes care of both. As far as taxes go, major tax-saving instruments are

Tax-exempt gifts from relatives and others

Aisha 05 November 2007 at 22:29

It is very common for people to receive gifts from friends and relatives. In some cases, gifts are also received from NRls. Let us consider the latest provisions of the Income Tax Act, 1961 regarding gifts, and analyse how individuals can achieve com

FBT formula may stay same on all streets

Ankit Dangayach 05 November 2007 at 22:27

NEW DELHI: Valuation guidelines for fringe benefit tax (FBT) on employee stock options (Esops) may be tweaked slightly. Companies listed on select international stock exchanges may get to follow the norm meant for listed companies in India as the go

Five key issues in FBT guidelines on ESOPs

Mr. PURNA P 26 October 2007 at 11:09

Five key issues in FBT guidelines on ESOPsThere are at least five niggling problems with the new norms issued for ESOP (employee stock option) valuation, says Mr Vikas Vasal, Executive Director, KPMG. "First, in the case of unlisted companies, no par

Tax implications of offshore derivative instruments

Mr. PURNA P 26 October 2007 at 11:09

Will the proposed review of foreign institutional investor (FII) regulations about issuance of ODIs (offshore derivative instruments) have any income-tax implications in India for the foreign investors? The answer appears to be in the affirmative."Th