Income Tax Articles

Provisions of Section 269SS and 269T under Income Tax Act

Posted by Amit Bajaj 22 July 2010 476802 Views

Provisions of Section 269SS and 269T under Income Tax Act Finance is the important part and need of every business. The own capital of a person may not be always sufficient to meet the needs of finance of the business. Therefore the Loans and depo

Compulsory maintenece of books of accounts under IT Act

Posted by Amit Bajaj 21 July 2010 34094 Views

It is generally seen that there is confusion among taxpayers about maintenance of books of accounts under Income Tax Act like who is required compulsorly to maintain the books of accounts and for how many years one has to keep his books of accounts.

A brief view on - DTC Revised Discussion Paper

Posted by Manikanta Raju CA,CWA,(CS) 12 July 2010 15871 Views

Introduction: The Government has released the Revised Discussion Paper on the Direct Taxes Code (“DTC”) on June 15. While retaining the basic philosophy and object of the DTC, the Revised Discussion Paper seeks to address 11 key issues

Opinion on Section 195

Posted by CA kanica gupta 03 July 2010 34500 Views

TDS PAYMENT TO FOREIGN CONSULTANTIs TDS applicable to foreign consultant who renders service outside India (namely in USA). Foreign consultant is US based and does not have PE in India. · First point before us for consideration is to decide

Treatment of Spectrum Charges in Income tax act 1961.

Posted by CA kanica gupta 03 July 2010 17745 Views

OPINION IN THE MATTER OF Whether payment of Spectrum charges gets covered under section 35ABB or Section 37 of the Income Tax act 1961? FACTS The company is engaged in the business of providing telecommunication facilities (just like MTN

Direct Tax Code There is still room for improvement

Posted by CA S.SAIRAM 30 June 2010 3945 Views

DIRECT TAX CODE – THERE IS STILL ROOM FOR IMPROVEMENT The Implementation of the New Direct tax code based on the Revised Discussion Paper will definitely be a CBM (Confidence Building Measure) from a layman point of view. The new tax rates r

CFC Rules - An Indian Perspective

Posted by taxindiaconnect 30 June 2010 20876 Views

The revised discussion paper on Direct tax code (Revised DTC) proposes to introduce the “Controlled Foreign Corporation Rules” (CFC Rules) in the case where the companies are incorporated outside India and are controlled by a tax residen

New online tax credit

Posted by Krutesh Patel 25 June 2010 15946 Views

Online Tax Credit During last few years, Income Tax Department has introduced many amendments, particularly aiming at to minimize personal interactions of Assessee with department. This is a welcome move and has made the task of Assessee easier

Tax planning for Expatriates

Posted by CA S.SAIRAM 25 June 2010 33369 Views

TAX PLANNING FOR EXPATRIATES: The term ‘Expatriate’ is an undefined word in the Income tax act 1961. However, Non residents will become exigible to Income tax on any income accruing or arising or received in India. Expatriates are of thre

Income Tax Return

Posted by K Karma 24 June 2010 13502 Views

Most of the individuals who earn enough money are generally required to give part of it back to the government, through the usual way of filling out an income tax return. They then send the necessary portion of their income to the government. But it