Income Tax Articles

Acquisition and Transfer of Immovable Property : FAQ

Aisha 24 March 2008 at 12:51

Acquisition and Transfer of Immovable Property in India by a person resident outside IndiaFrequently Asked Questions (FAQs)Acquisition and Transfer of Immovable Property in India by a Person Resident outside IndiaAcquiring immovable property in India

Explanation To Section 73 Of The Income Tax Act .

CA. Amit Daga 21 March 2008 at 18:23

Explanation To Section 73 Of The Income Tax Act .\Section 73 of the Income Tax Act, 1961 deals with carry forward and set off losses from speculation business. Explanation to Section 73 is a deeming provision wherein if specified conditions are satis

Fringe Benefit Tax - At A Glance

CA. Amit Daga 21 March 2008 at 18:23

Fringe Benefit Tax - At A Glance INTRODUCTION The Finance Act, 2005 has imposed a new tax - The Fringe Benefit Tax (FBT). The provisions relating to this new tax are contained in new Chapter XII-H (sections 115W to 115WL) of the Income Tax Act, 1961

FAQ ON ACCEPTANCE OF LOAN OR DEPOSIT OF MONEY

Late CA Sampat Jain 19 March 2008 at 18:35

FREQUENTLY ASKED QUESTIONS ON ACCEPTANCE OF LOAN OR DEPOSIT OF MONEY Author: CA Sampat Jain Co-Author: CA Nikita Kala Q1. What is the defi

Analysis of Retirement benefit (Gratuity)

Rahul Gupta 18 March 2008 at 19:02

Analysis of Retirement benefit (Gratuity)March 14, 2008Meaning :-Gratuity is a statutory benefit paid to the employees under the Payment of Gratuity Act, 1972 who have rendered continuous service for at least five years. The employee is eligible for

How to claim HRA & house loan benefits

CA Praveen Chopra 17 March 2008 at 14:36

How to claim HRA and home loan benefits[Submitted by CA. Praveen ChopraB.Com, ACAGandhidham , Gujarat]March 17,2008The documents required to claim deduction and implications of joint ownership of property. Documents required for claiming deduction I

Search and Survey

CA Praveen Chopra 15 March 2008 at 22:46

[ Submitted by CA Mr. Praveen ChopraFriends Group Of Companies, Gandhidham ] · Search and SurveyPower to carry out search under section 132 and survey under section 133A are important tools in the armoury of the Income-tax department for de

Tax deduction for salaried employees

Jitender Garg 15 March 2008 at 13:23

Tax deduction for salaried employees FOR salaried employees it is possible to get tax deduction from the employer in respect of investments made or amount spent in terms of the provisions contained in Section 80C of the Income-tax Act, 1961.The emplo

MAT

Manjunath 10 March 2008 at 16:39

Minimum Alternate TaxThe 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 as

Guidance Note on Tax Audit

Manjunath 07 March 2008 at 11:05

Guidance Note on Tax Audit - Issued by ICAI THE TURNOVER OR GROSS RECEIPTS IN RESPECT OF TRANSACTION IN SHARES, SECURITIES AND DERIVATIVES MAY BE DETERMINED IN THE FOLLOWING MANNER.(a) SPECULATIVE TRANSACTION: A speculative transaction means a trans