Income Tax Articles

DTC Revised Discussion Paper - Issues, Concerns & Responses

Posted by Rahul Gupta 24 June 2010 24123 Views

On 15.06.2010, CBDT released Revised Discussion Paper on DTC. It covers 11 points on which comments were received after the release of Draft DTC provisions in August 2009. Through this article, I just try to explain the points covered by the Revi

Revised Discussion Paper: That Soothes that seethes

Posted by Vijay Kalia 21 June 2010 4789 Views

The revised discussion paper on direct tax code has been released on 15th of June, 2010 after the stormy criticism of the first discussion paper which was released in August, 2009. Most of the concerns that have been raised have been taken care of an

Documents required for PAN Application

Posted by Nilesh 21 June 2010 84788 Views

Documents required for PAN Application For Individual 1. Citizen of India Located in India Documents to be submitted as Proof of Identity and Address by Individual who is Citizen of India located in India at the time of application for PAN

Its all about TRANSFER PRICING

Posted by Manikanta Raju CA,CWA,(CS) 18 June 2010 46331 Views

Key Notes: Transfer pricing relates to the pricing of transactions (such as transfer of goods, services, intangibles and funds) that take place within affiliate segments of a group company in different tax jurisdictions. Transfer pricing is typica

TDS Changes in Income Tax Rules (6th Amendment) 2010

Posted by Krishan 07 June 2010 43108 Views

A change again… One by one now it’s a 6th amendment to the Income Tax Rules, 2010 as notified on 31st May 2010 What a power to the government under section 295 of the Act…. On 18th February 2010 it was their first amendment a

TDS Rule Amendments

Posted by Kapil Nayyar 04 June 2010 24957 Views

By Kapil Nayyar and Neha Srivastava Nayyar Maniar & Associates AMENDMENT IN TDS RULES A. INTRODUCTION The Central Board of Direct Taxes (CBDT) has amended the rules relating to Tax Deducted At Source (TDS) vide Notification No. 4

Systems of Taxing income - An Overview

Posted by taxindiaconnect 03 June 2010 11245 Views

The Hon’ble Mumbai Branch of ITAT ( The ITAT Mumbai) in the case of Ashapura Minichem Limited VS Assistant Director of Income Tax Mumbai has analyzed the various concepts / principle of determining the taxation of income prevailing worldwide.

Permanent Establishment An Introduction

Posted by Kapil Nayyar 02 June 2010 128746 Views

With the globalization of world economies, the concept of Permanent Establishment (PE) has gained significant magnitude both in India and worldwide due to its direct impact on the tax revenue generated by a Country.The PE concept is a measuring tool

Taxability of Fees for Technical Services In India pursuant

Posted by taxindiaconnect 31 May 2010 20101 Views

Back Ground The Hon’ble Income Tax Appellate Tribunal Mumbai ( ITAT Mumbai ) in ITA no 2508/Mumbai/08 in the case of Ashapura Minichem Limited Vs Assistant Director of Income Tax, Mumbai has delivered a landmark decision on the issue of incom

Gift u/s 56(2)

Posted by Rahul Poddar 19 May 2010 36847 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