Income Tax Articles
CFC Rules - An Indian Perspective
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
Direct Tax Code There is still room for improvement
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
Can we claim HRA deduction u/s 10(13A) and Interest on housing loan u/s 24(b) simultaneously if both are in the same city?
I have seen that we are finding difficulties in application of Sections of Income Tax Act, 1961. The reason behind it is lack of conceptual knowledge. To solve this problem I have decided to write articles for you all on different to
New online tax credit
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
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
DTC Revised Discussion Paper - Issues, Concerns & Responses
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
Income Tax Return
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
Revised Discussion Paper: That Soothes that seethes
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
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
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
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