Income Tax Articles
Proof of travel not required for claiming LTA
Proof of travel not required for claiming LTA : Supreme CourtDear All,Please find very useful decision with regards to claiming LTA without supportings as below :- LTA : Evidence of Expenses Employers, while processing the conveyance and leave &
What Constitutes Salary Income?
Income from Salary WHAT CONSTITUTES SALARY INCOME?"Salary" is the remuneration received by or accruing periodically to an individual for service renderedas a result of expressed or implied contract.Compensation or remuneration even in the f
PENALTIES AND PROSECUTION
Introduction Direct Tax Legislations are one of the significant modes which enable the State to realize the objectives of both Social and Economic Justice as also defraying the cost of rendering public services on the part of the State, Economic ord
TONNAGE TAX SCHEME (Sec 115-V to Sec 115-VZC)
TONNAGE TAX SCHEME (Sec 115-V to Sec 115-VZC) 1. Bareboat charter cum demise (BBCD) – Ownership is to be transferred after a specified period of time. 2. Bareboat charter (BCC) – Hiring of ships for a stipulated period on ter
Encyclopedia on Gratuity
Encyclopedia on Gratuity Gratuity – Meaning of – Gratuity refers to the gracious payments made to the employee in appreciation of the prolonged services rendered by the employee to the employer and is normally payable at the
Requirement for maintaining books of account
Maintenance of accounts: [section 44AA and rule 6F] In case of specified professions [Gross receipts exceeds Rs.150000…] : the followings books of accounts shall be maintained by a person carrying on the specified profession:-
Budget 2010-11 - Levying Service Tax on Medical Services
Budget 2010-11- Levying tax on Medical Services - The Case of Delivering a Deformed Baby By CA. Pradip R Shah e-mail: pradip@pradiprshah.com Introduction 1.0 In order to evaluate applicability of the provision of a statute levying tax, one is
Dividend Stripping u/s 94(7) of Income Tax Act
Dividend Stripping - Section 94(7) Suppose Record Date for Dividend / Income - 31.01.2010 Acquisition of Shares / Units of MF – Within 3 months prior to the record date (01.11.2009 till 31.01.2010) Sale or Transfer of ·
Post Budget - CA Sudhir Halakhandi
BUDGET-2010 AN OVERVIEW OF IMPORTANT DIRECT TAX PROPOSALS- CA SUDHIR HALAKHANDI The union finance Minister Mr. Pranab Mukharjee has presented
Implication Budget 2010 on Business Income
Tax Rates Tax rate for firms, LLP and companies remain the same as per last year's budget. • However surcharge in the case of domestic company gets reduced from existing 10% to 7.50% for the Financial Year 2010-2011. &bu
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