Income Tax Articles
TDS Changes in Income Tax Rules (6th Amendment) 2010
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
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
Permanent Establishment An Introduction
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
Systems of Taxing income - An Overview
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.
Taxability of Fees for Technical Services In India pursuant
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
All about Presumptive Taxation
Presumptive Taxation Taxation is the most essential wing of the government’s revenue. It contributes a bulky amount to the government to meet the social and economic need of the nation. When collecting tax from the public the government tr
Gift u/s 56(2)
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
How to fill E-forms
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
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
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
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