Income Tax Articles
Sec 54 benefit: Exchange of Old Flat under redevelopment
Hello Friends, there are many Redevelopment of Buildings cases are coming up and thus would like to write an Article on the above, wherein Old Flats are Exchange with New Flats along with cash or other consideration under the Redevelopment Agreement
Hedging Loss on FC Forward Contract not Speculation Loss
TAX FLASH: CIT v Friends And Friends Shipping Pvt Ltd. - Gujarat High Court S. 43(5): Loss on foreign currency forward contracts by a manufacturer/ exporter is a hedging loss and not a speculation loss FACTS OF T
Detailed analysis of new TDS Section 194IA
w.e.f 01/06/2013, new TDS section brought into effect for deduction of tax while making payment for purchase of immovable property other than agricultural land in rural area in India- Following are the conditions and operational mechanism- (1) T
A few aspects of applicability of Tax audit
The voluntary tax compliance by the taxpayers considerably widened after the insertion of tax audit under section 44AB in the Income-tax Act, 1961 by the Finance Act, 1984. An important revision to Tax Aud
Financial Planning for Beginners
June is the month, when many campus recruits start with their first job. Sameer Dahane was one of them. While he was excited of a new role, he was equally eager to get his salary so that he can splurge it. On a casual tea-time discussion with Kapil,
Transfer pricing precautions; Taxpayers need to take despite recent ITAT ruling
In an recent ITAT ruling reported in (2013) TaxCorp (TP) 5176 (ITAT), the ITAT said Transfer pricing rules do not apply in these circumstances (i) to an investm...
Income Tax Settlement Commission
Tax Settlement Commission, a quasi judicial body, was set up under section 245B of Income-tax Act 1961. It has been set up as a result of recommendations made by Direct Taxes Enquiry Committee (Popularly known as W
TDS on Immovable Property
The Finance Bill 2013 had proposed to introduce Section 194IA to the Income Tax Act, 1961 (the ITA) which provided that the purchaser of an immovable property worth over Rs. 50 lakhs (other than agricultural land) is required to deduct
TDS Certificates
Friends, Once again the season of filing income tax returns has come. Government has notified almost all Income Tax Return (ITR) Forms barring a few, which may be notified in next few days. TDS certificate is one of the most require
TDS/TCS Rates Chart for A Y 2014-15
TDS Rate Chart for A Y 2014-15 on Payments other than Salary and Wages Section No. Nature of Payment Threshold Total Payment During the Year Payment to Individual or H
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