Income Tax Articles
Understanding deductions of section 80-IA & IB with Latest Case Laws Part II
We had earlier discuss in detail about the concepts of section 80-IA & IB along with various case laws earlier in article. Over a period of time, there are number of judgments comes from various levels of courts from different locations
Karniti Part-2: Pay advance income Tax & relax
Keeping conversation between Lord Krishna and Arjuna as the foundation we will learn certain basic financial and tax matter. Let us try to get answers to our questions in a bit different and joyful manner. The character of Arjuna w
Capital gains tax valuation (Immovable Property)
Capital Gains Tax Valuation. (Immovable Property) (Keywords: Under Income-tax Act 1961 as amended from time to time, classification of Long Term Capital Gains (LTCG) and Short Term Capital Gains (STCG), Cost Inflation Index (CII), computation of
Karniti Part 1 - Taxation Educational exp. under income tax
In The Mahabharata on the Battlefield of Kurukshetra, the conversation between Lord Shri Krishna and Arjuna gave birth to the Holy book Bhagwat Gita Wherein Arjuna asked many
Whether 15CA/15CB will be required for import of goods
The amended rule 37BB (governing Form 15CA and CB) as applicable from 01/10/2013 provides for exemption from filing both Form 15CA and 15CB only for two cases:- 1. In the items covered under the Specified List (28 items which includes remittances fo
Applicability of Form 15CA and 15CB w.e.f 01/10/2013
CBDT has again changed the Rule 37BB of Income Tax Rule and \the new rule will help the Indian Parties remitting/paying the monies to foreign persons/companies. Now it has been provided that in case of 28 types of payments , there shall be no need
Summary of Chapter VI A - Part 1
CHAPTER VI-A SIMPLIFIED Applicable for F.Y. 2012-13 Sections- from 80A to 80GGC Deduction under Chapter-VIA is not allowed against following incomes: Long Term Capital Gains. Short Term Capital Gains u/s.111A Winnings from lotteries, crossword
Whether or not the debentures are loans covered u/s 269SS
(2013) TaxCorp(LJ) 1637 (ITAT) Income Tax Section 271D, 269SS, 269T Whether or not the debentures are loans covered u/s 269SS F.Y 2004-05, the assessee company has shown 5171.40 crores under the head as Optionally Fully Convertible Debentures
MTM Loss Disallowance - Another opportunity to revisit
Derivative losses or Mark to Market losses are known to be unreal or notional and hence the taxman hates giving deduction for them. The focus seems to be on distinguishing oneself from the acco
Prosecution and interest on late deposit of TDS
TDS under income tax is main source of tax collection by the Government. However many times the tax Deductors ,after deducting TDS from specified payments, are deliberately not depositing the taxes so
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