TAXATION OF E-COMMERCE TRANSACTIONS WHAT IS E-COMMERCE? E-commerce or electronic commerce, in its widest sense, means consumer and business transactions conducted over a network, using computers and telecommunications. In other words, e-comm
Survey Operations U/s 133A of the Income Tax Act Surveys u/s 133A of the Income Tax act, 1961 are made by Income Tax Department regularly. Survey is different than search and seizure operation which is commonly known as income tax raid. But wh
TO : ITR Individuals India Hi All Hope everyone is doing great & busy in calculating risk & returns on Tax Investments. I know December & January months are meant for investment & reducing tax liability. Most of you had already
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Disallowances in case of Interest free loans given by a company to a sister concern or others. In this regard it is pertinent to note that it is a well settled law that notional incomes are not taxable under the Income Tax Act, 1961. The Orissa
TDS is one of the modes of collection of taxes, by which a certain percentage of amounts are deducted by a person at the time of
Prerequisites for Claiming Bad Debts In order to claim deduction of bad debts u/s 36(1)(vii) following conditions must be cumulatively satisfied: 1) It must be a DEBT: A debt is a present obligation to pay an ascertainable sum of money, wheth
Advance Tax – Better to payOld saying; - Nothing's certain but death and taxes, Every Income Tax Asseesee whose Tax liability is more than Rs 10,000 must pay Advance Tax. Income Tax Assessee can be any one – Sala
Background & Introduction They say the only thing that doesnt change is change itself and that is true for Direct Tax Laws. The taxation laws in our country undergo many changes. Direct Tax Laws is an important area of c
Direct Tax Code and its Impact on Power Sector When archaic rules have to be replaced with new ones, the changes must be dramatic and path breaking. --- Union Finance Minister Pranab Mukherjee at the time of releasing the draft D
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