Income Tax Articles

taxability of farm house as per wealth tax act

CA Ankur Luhadia 27 July 2008 at 18:43

TAXABILITY OF FARM HOUSE - Ankur Luhadia U nder wealth – tax , before taxing any person, it must be shown that the person sought

Indians-Most Intelligent but worst Systems

Md. Riazuddin 23 July 2008 at 17:48

It is rather strange to note that we (Indians) are regarded as the most intelligent people in the world. Our intelligence is being utlised to better the systems and procedures in developed nations. Whereas, at home the entire system is messed up. One

Tax Audit

SWATI AGRAWAL 21 July 2008 at 15:45

Tax Audit

Norms for filing TDS/TCS returns

CA. A. Kumar 07 July 2008 at 18:20

All tax deductors / collectors are required to file the TDS/TCS returns in Form No.24Q (for salaries), Form No.26Q (for payments other than salaries) or Form No.27EQ (for TCS). These forms require details of all tax deductions with name and permanent

RELATIVES UNDER THE INCOME TAX ACT - A RELATIVE CONCEPT

CA Pradip Shah 04 July 2008 at 17:03

[This article appeared in TAXMAN-Volume 156 Page 89 dt. 21st Oct. 06 ] RELATIVES UNDER THE INCOME TAX ACT – A RELATIVE CONCEPTBy CA Pradip R. Shah Human Society – a cobweb of relationships1.0 Human being is called a social animal. The

House property Income Computation

PC-www.bharadwajinstitute.com 21 June 2008 at 16:00

Income from House Property (Section 22 to 27) HP under Rent Control Act HP not covered under Rent Control Act a. FRV or MRV whichever is higher b. Amount (a) or SR whichever is

Set off and Carry forward of Losses - Students guide

PC-www.bharadwajinstitute.com 21 June 2008 at 16:00

I SET OFF OF LOSSES (Sec 70 and 71) Set off of losses refers to adjustment of current year losses against current year incomes. Rules A: Set off of losses – Intra head adjustments (Inter source adjustments) Loss from one source of income can

TAX PAYMENT BY CHEQUE BEFORE DUE DATE CASHED AFTER DUE DATE

RAJAN GUPTA 18 June 2008 at 13:11

The question before us is"if tax is deposited on or before due date through cheque but en cashed after the due date ,whether it can/will be treated as "default in payment?" First of all I take clear provisions regarding the above quest

Minimum Alternate Tax ( MAT)

CA CS CIMA Prakash Somani 17 June 2008 at 17:16

The 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 assessment year for whic

TAX SAVING TIP:LOSS FROM SHARES

RAJAN GUPTA 22 May 2008 at 13:57

By reading the title of the post you will be thinking that there is no tax on long term capital gain on shares then what is the relation between tax saving and long term capital loss?But after reading the next few lines you will definitely understand