Income Tax Articles

REGISTRATION OF MINOR TRUST: REVISED

Posted by CA Nitesh Kumar More 20 January 2010 27725 Views

REGISTRATION OF MINOR TRUST: REVISED BY CA NITESH KUMAR MORE 9883157484 Trust can be formed for a minor by executing a deed for a specific pe

PROBLEMS OF TAKING A FLAT IN A PVT LTD COMPANY

Posted by CA Amit Kumar Hallen 19 January 2010 9840 Views

It is advised not to take any flat in a company name to save stamp duty to be paid at the time of further transfer in future. There will not only a problem in current year, but assessment of last 6 years can be reopened. This can be explained as foll

MAGNANIMOUS THRESHOLD OF W.TAX IN D.T.CODE

Posted by Vijay Kalia 09 January 2010 7070 Views

MAGNANIMOUS THRESHOLD OF WEALTH TAX UNDER D. T.CODE-A BOON FOR NON-FILERS BOUNTIFUL MUNIFICENCE OF THRESHOLD LIMIT OF RS.50 CRORE:The direct tax code is unique in its approach in so far it prescribes a threshold limit of Rs.50 Crore. But it is to be

whether rental income or business income

Posted by CA Pankaj Galhotra 09 January 2010 21674 Views

Whether Rental Income or Business Income ?The question whether income from property should invariably be taxed under the head “income from house property” is to be decided after taking into consideration the cumulative effect of all facto

Mediclaim - Life Relief + Tax Relief

Posted by Rahul Poddar 08 January 2010 14192 Views

MEDICLAIM – Life Relief + Tax Relief Now-a-days people are so busy in their life that they forget the uncertainties with which they are surrounded; likewise they also forget to protect themselves from the outcome of such uncertainties. Let me

New Perquisite Valucation Rules for Salary

Posted by CA Pramod Jain 07 January 2010 38158 Views

New Perquisite Valucation Ruleso 15% of salary.if accommodation is owned by employer if accommodation is owned by employer• For government employees, the value fixed as per central /state government rules.• For other employees, the valuation will dep

A brief view on DT Code

Posted by Manikanta Raju CA,CWA,(CS) 06 January 2010 19104 Views

Introduction: One of the most critical drafts of Indian statutes was Income tax Act, 1961. In order to simplify the current tax structure government of India comes with a proposal of introduction of Direct Tax Code (DTC). The new Tax draft has given

The new Perquisites rule - Main changes - Summary

Posted by CA.Parsun Garg 24 December 2009 33913 Views

The new Perquisites rules have been notified and the main changes are under perks for Car/ Driver and for ESOP Schemes. The same have been summarized herein for quick reference. For specific conditions, explanations, etc. and other minor changes,1.

Applicability of Sec 40(a)(ia) on year end TDS provisions

Posted by Manikanta Raju CA,CWA,(CS) 22 December 2009 165469 Views

Introduction: One of the important aspect during the tax audit is whether payments made towards specified expenditure attracts disqualification u/s 40(a) (ia) and applicability of this section to provisions made at the year end and its implications.

Recourse available against deductiabilty of TDS u/s 194A

Posted by Manikanta Raju CA,CWA,(CS) 18 December 2009 18998 Views

This topic is relating to problems faced by General Insurance companies providing third party insurance:-In most of the cases the accident victim in road accidents are poor and road side people. They will receive money from insurance companies by way