Income Tax Articles
Commandments of Tax Planning
1. Execution of Tax Planning: Execution of Tax planning should be such that the proposal should be applied with good conceptual knowledge of the facts. Tax Planning principles must be sound and also due care should be exercised in structuri
Infrastructure Bonds : whether worth to Invest ?
Infrastructure Bonds : whether worth to Invest ? After the additional Rs. 20000 investment in Infrastructure Bonds are allowed as deduction under Section 80C, above the cap of Rs. 100,000/-, suddenly the tax payers see it as a brighter option to
Defective Return
As per Section 139(9) where the Assessing Officer considers that the return of income furnished by the assessee is defective, he may intimate the defect to the assessee and give
Tax Benefits and your Dream Home
Tax Benefits and your Dream Home It is being well said that Roti, Kapda and Makan are the three basis necessities for which a common man is running during his entire life. As all three things are very much necessities and a common man could easil
FAQ on Payment of Tax
What are the new challans for the payment of Direct Taxes? The following new single copy challans have been introduced with effect from July 2005: Sr. No. Challan No.
FAQ on 26AS
1.What is Form 26AS? Form 26AS is a consolidated tax statement issued under Rule 31 AB of Income Tax Rules to PAN holders. This statement, with respect to a financial year, will include details of: a) tax deducted at source (TDS); b) tax collected a
FAQ's on Furnishing of TDS / TCS return
Furnishing of TDS/TCS return / statement 1. Where can I file my TDS/TCS return? You can file your TDS/TCS return at any of the TIN-FCs managed by NSDL. TIN-FCs are set up at specified locations across the country. Details are given in
General TDS FAQ
1. What is annual e-TDS/TCS Return? Annual e-TDS/TCS return is the TDS return under section 206 of the Income Tax Act (prepared in Form Nos. 24, 26 or 27) or TCS return under section 206C of the Income Tax Act (prepared in Form No. 27E), which is
Survey Operations U/s 133A of the Income Tax Act
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
Taxation of E-Commerce Transactions
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
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