Income Tax Articles

I T Scrutiny on the basis of AIR

Posted by Mahesh Kapasi 10 August 2009 22939 Views

The Annual Information Reports (AIR) under Income Tax Forms is meant for high value transactions but these limits at present are too low especially in view of continuing inflationary trends beyond the control of government and manifold increase in

How to make best use of the tax benefits - Series I

Posted by Jigar Shah 05 August 2009 16591 Views

An individual assesses always wonder what be could his tax implications and the amount of taxes, he would end up paying at the end of the year. People from commercial background find it relatively easy to crack than individuals from other background.

Mumbai ITAT in A.M.Tod Company upholds constitutional rights

Posted by G Anandhi 27 July 2009 10230 Views

In the Income-tax Appellate Tribunal, Mumbai Bench in the case of A.M.Tod Company India Pvt. Ltd. vs. The Income-tax Officer in ITA No. 492/ Mum/2006 dated 24th June, 2009 for Assessment Year: 2002-03.By G Anandhi, Grant Thornton Hyderabad, IndiaInt

Tax Deduction at Source

Posted by CA Lalit Mohan Agarwal 23 July 2009 31139 Views

Tax deduction at source is a method of collecting taxes on behalf of the Government at the time of payment or credit. The Income-tax Act casts a legal responsibility on the deductor to deduct tax on the correct amount, at the correct rate and deposit

Concept of Mutuality-a discussion

Posted by Dilip K Raina 18 July 2009 60196 Views

In view of the circular no.11/2008 dated 19-12-2008 issued by the department of Income Tax to make certain changes with respect to taxation of certain assesses claming exemption under section 11 as charitable institution as well as mutual organizati

Brief Discussion on Proposed Amendments in IT Act-Business

Posted by Anumanchipalli Sathikonda 14 July 2009 12177 Views

Income-tax Act. 1961. CORPORATE TAX PROPOSALS Rates of Tax for AY 2010-2011 Ø Basic rate of tax for Domestic and Foreign Companies, Firms remain unchanged @ 30%.Dividend Distribution Tax also remains unchanged @15%.Ø Rate

TAX UPDATES

Posted by CA Lalit Mohan Agarwal 10 July 2009 16106 Views

1 TAX UPDATES 1. Black money hunt begins The government has made the first move to track down individuals and entities that have slashed away black money in offshore banks. Th

TAXATION OF LIMITED LIABILITY PARTNERSHIP (LLP) INDIA

Posted by BINOY CHACKO 06 July 2009 16309 Views

TAXATION OF LIMITED LIABILITY PARTNERSHIP (LLP) INDIA Finance Bill 2009 has brought LIMITED LIABILITY PARTNERSHIP (LLP)in line with a ‘FIRM’. This will enable the LLP taxed as a Partnership. LLP form of organization will get the advan

Irritants in Taxation

Posted by Vijay Kalia 04 July 2009 4924 Views

Irritants in Taxation: ---------------------------There are many inputs being given by trade and industry as well as by the experts on income tax for consideration of the finance minister. The major consultancy firms have recently published their c

Easy Steps to File Tax

Posted by udit agrawal 01 July 2009 10941 Views

Following are the 10 easy steps for Tax filing. Step 1:Identify your sources of income under some income heads.Step 2: Keep documents readyStep 3: Compute the Gross Total Income (GTI)Step 4:Calculate deductionsStep 5:GTI minus deductions.Step 6: Cal