Income Tax Articles
Importance of Income tax Module for IPCC Students
Hello friends, Hope all are busy in revisions and few of you have just started preparing for exams. Okay, now let discuss the title I have given for this article. How, are you preparing your INCOME TAX paper?? Have you read institute's income
Recent ruling on Capital Gains as reported
1. S. 54F: Capital Gains Investment in residential house- Exemption Investment in four 4 flats Held that exemption allowed as requirement of assessee family met-out only by enlarging residential unit by merging 4 flats and th
Landmark ruling on Sec 14A-Updated as on 11th Sep
S. . 14A provides for the disallowance of expenses incurred in relation to the income, which does not form part of the total income of the assessee. 14A. [(1)] For the purposes of computing the total income under this Chapter, no deduction shall be
Report of Expert Committee on General Anti Avoidance Rules
Honble Prime Minister had constituted an Expert Committee on General Anti Avoidance Rules (GAAR) to undertake stakeholders consultations for finalization of guidelines to ensure greater clarity on GAAR issues. The Expert Committee af
Idea similar to Carbon Credit, called Tree Credit!
I aim at planting a good idea in your mind. We all know beautiful glaciers are melting daily in some part of the world because of Global Warming. Yet we do nothing but relish the thought of not contributing significantly towards it. I don
Tax Accounting for Constructions Contracts
Dear Members, Many Construction Contractors are Always Found in Confusion to Which System is to be Followed for Accounting as Far as Income Tax Act is Concerned. Here is Detail Discussion on Tax Accounting of Construction Contract. After Reading G
CBDT issues Advance Pricing Agreements (Rules)
One of the announcement which was very anticipated in Transfer Pricing Arena was the Advanced Pricing Agreement (APA). CBDT released the rules on APA on 30th August. The Finance Minister had announced that the APA will be released so that the d
Section 54 EC case laws
Beauty of case laws- Whether its Direct tax law or Indirect tax law or corporate or allied laws, case laws are very important to digest the provisions of law conceptually. The beauty of case law is that it is not only interesting but also clarifies
Benefits u/s 80ID
Five year tax holiday for hotels located in specified districts having a world Heritage Site. Section 80-ID of the Income-tax Act provides for a five year tax holiday to new hotels of two, three and four star categories and convention centres. It
Transfer Pricing & Role of Company Secretaries
A Company Secretary holds a key position in any Company as the Compliance Officer of the Company. A Company Secretary is responsible for all regulatory compliances of Company. A Company Secretary supervises the finalization of Annual Accounts of a
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