Income Tax Articles

Gift u/s 56(2)

Posted by Rahul Poddar 19 May 2010 36840 Views

TAX TREATMENTS ON GIFT The amendment of Sec 56(2) of the income tax act has intensely changed the scenario of the tax treatment of gifts received by an assessee. The amended provision states that · Where any sum of money exceedin

TDS Amendments and its Impact

Posted by Manikanta Raju CA,CWA,(CS) 12 May 2010 28347 Views

Some says TDS is a simple, logical and interesting area. On the other hand most of the people are of the opinion that it is Vast, difficult and complicated. For fun professionals says TDS is a TEDIOUS topic (Both TDS and tedious have same pronunciat

Carefully laid investment plans u/s 80C

Posted by Manikanta Raju CA,CWA,(CS) 12 May 2010 22563 Views

As per the latest budget amendments, for the AY 2011-12 a deduction of INR 20,000 has been proposed for investments made in notified long term infrastructure bonds. This deduction is in addition to the deduction available under section 80C in case o

How to fill E-forms

Posted by CA Dhiraj Ramchandani 10 May 2010 18904 Views

How to fill E-forms | DHIRAJ A. RAMCHANDANI | Other Contributors are: Rakesh M. Jagwani [CA Final Student] Farookh S. Saiyed [CA Final Student] Vanita M. Jagwani [Head of Fin. Dept. of Parikh Pvt. Ltd] Manish B. Giriraj [MBA – Finance Stud

Tax Havens- An overview

Posted by CA Prashant Gupta 07 May 2010 17438 Views

Tax Havens- An overview A tax haven is a country or territory where certain taxes are levied at a low rate or not at all. Individuals and/or corporate entities can find it attractive to move themselves to areas with reduced or nil taxation levels.

Complete guide to Wealth tax

Posted by Member (Account Deleted) 07 May 2010 117840 Views

Introduction to Wealth Tax Act 1957Wealth Tax Rules 1957 ü Wealth tax is a Direct Tax.ü It is levied by Central Government on few Persons.ü Power to Levy Wealth Tax is derived by Constitution of India.ü It means T

Budget 2010 - Indirect Taxes

Posted by CA.Hanumantha Reddy 14 April 2010 16140 Views

Service Tax: The service tax effective rate is remains unchanged @ 10.3% Important amendment to the existing provisions: · Amendment of Section 65 (19) Business Auxiliary Service (BAS) - in sub – clause (ii) the explanatio

Profits and Gains of business or Profession (A.Y. 2010-11)

Posted by Member (Account Deleted) 05 April 2010 27625 Views

Profit and gains of business as specified in section 28 of Income tax Act are taxable. The term 'business' includes trade, commerce or manufacture or adventure or concern in nature of trade,

Retrospective Amendments-HighTime for Introspection by India

Posted by CA Pradip Shah 01 April 2010 10474 Views

Retrospective Amendments – High-time for Introspection by India - CA. Pradip R Shah pradip@pradiprshah.com Introduction 1.0 In any civilised society, a taxing statute is expected to be prospective i.e. levying the tax on the income / tr

CAPITAL GAINS UNDER INCOME TAX ACT 1961

Posted by Amit Bajaj 27 March 2010 101646 Views

Any Income derived from a Capital asset movable or immovable is taxable under the head Capital Gains under Income Tax Act 1961. The Capital Gains have been divided in two parts under Income Tax Act 1961. One is short term capital gain and other is l