Income Tax Articles

TAXABILITY OF PERQUISITES PROVIDED BY EMPLOYERS .

Kishan Kumar 12 February 2009 at 14:24

TAXABILITY OF PERQUISITES PROVIDED BY EMPLOYERS WHO ARE NOT SUBJECT TO FRINGE BENEFIT TAX INTRODUCTION Since, Chapter XII-H relating to Fringe Benefit Tax, as provided in the Finance Act, 2005, is not applicable to the employer, being an individual

Wealth Tax Basic Provisions

CA.Tarun Maheshwari 10 February 2009 at 15:38

Assessees Liable to Wealth Tax (Section 3)Wealth Tax is charged for every assessment year in the hands of individuals, HUFs and all companies (private as well a..

AUDIT REPORTS AND ACCOUNTANT'S REPORT

CA.Tarun Maheshwari 08 February 2009 at 22:11

AUDIT REPORTS UNDER THE INCOME-TAX ACT (To be furnished along with the Return of Income) Section Rule For Whom In Form No. 12A(b) 17B Public charitable or religious Trusts or Institutions whose incom

FBT on ESOPS

Kishan Kumar 05 February 2009 at 00:16

FRINGE BENEFIT TAX ON ESOP`S INTRODUCTION The proviso to section 17(2) iii has been omitted. So far the value of any benefit provided by the company free of cost or at a concessional rate to its employees by way of allotment of shares, debentures or

Rule 8D of the Income Tax Act - Prospective or Retrospective

Hiral Raja 05 February 2009 at 00:12

Section 14A was introduced in the Income Tax Act, 1961 by the Finance Act 2001 with retrospective effect from 1st April 1962. The intent of introducing this section was reiteration of the well settled legal principle that when an assessee incurs any

INCOME TAX FOR STUDENTS

CA Sudhir Halakhandi 25 January 2009 at 02:51

INCOME TAX FOR STUDENTS-1- BY CA SUDHIR HALAKHANDI IMPORTANT DEFINITIONS UNDER THE INCOME TAX ACT, 1961 Assessee(Section 2(7):- Assessee means a person by whom any tax or any other sum of money is payable

Taxation of Non Resident Shipping Company

Gagan Gupta 25 January 2009 at 01:03

Applicable section – Section 172Shipping business of non-residents.172. (1) The provisions of this section shall, notwithstanding anything contained in the other provisions of this Act, apply for the purpose of the levy and recovery of tax

Tax Planning

CA. Amit Daga 21 January 2009 at 12:48

Dear All,Its high time and now all of us are thinking for tax saving. Hope this article will be help ful for you that how to save your tax. I would like to say, Nobody likes the tax man, but dues have to be paid. With a little intelligent planning th

Legal Necessity of Provision for Depreciation

dheeraj kr singh 13 January 2009 at 16:41

On account of the provision under section 205 that, no dividend shall be declared except out of profitsarrived at after providing for depreciation in accordance with the provisions of the Act, it has becomeobligatory for every company distributing di

MAJOR INVESTMENT UNDER SECTION 80C

CA Sudhir Halakhandi 13 January 2009 at 14:39

BREIF STUDY OF MAJOR TAX SAVINGS INVESTMENT INTRUMENTS UNDER SECTION 80 C - CA SUDHIR HALAKHANDI (AN INTERESTING ARTICLE ON MAJOR INVESTMENT UNDER SECTION 80CINCOME TAX, ) Finance Act 2005 has changed whole the scenario of investment based tax rebate