Income Tax Articles

The India- UAE Protocol- What's in Store?

Posted by Abhiroop 26 December 2007 6783 Views

TheIndia- UAE Protocol- What's in Store? Thetrade relationship that Indiahas had with UAE has always been on a special front and assumed significance.One Million Indians stay in the UAE alone and the trade volume exceeds morethan $18 billion per ann

Answers to Frequently Asked Questions On Income Tax and Pan

Posted by Aisha 08 December 2007 11247 Views

A. General 1. What is Income Tax? It is a tax imposed by the Government of India on any body who earns income in India. This tax is levied on the strength of an Act called Income tax Act which was passed by the Parliament of India. 2. What do y

Gist of Latest Judgement

Posted by Rupesh Srivastava 30 November 2007 6338 Views

DIRECT TAX LAWS Supreme Court of India G.K. Choksi & Company v. Commissioner of Income-tax Depreciation - Initial depreciation on building under section 32(1)(iv) at rate of 40 per cent would not be available to professionals; it would be available t

Important Judgements & Tribunal Orders Reported in Oct 2007

Posted by Rupesh Srivastava 27 November 2007 8232 Views

Gist Of Important Judgements & Tribunal Orders Reported in Oct 2007Subject Index: Supreme Court1. Interest awarded to the assessee by the High Court for illegal seizure of stock-in-trade of the assessee was converted to costs of Rs. 75,000/- towa

Digest of SC Judgement Oct 2006- June 2007

Posted by Rupesh Srivastava 20 November 2007 13461 Views

Digest: Very Important Judgements of Supreme Court. DigestOct 2006- June 2007 1. Attribution of profits to the Permanent Establishment The Supreme Court has held that since there is no specific provision under the Act to compute profits accruing

E-payment of taxes : FAQ

Posted by Aisha 12 November 2007 6625 Views

e-Payment of Taxes e-Payment facilitates payment of direct taxes online by taxpayers. Toavail of this facility the taxpayer is required to have a net-bankingaccount with any of the banks listed below, which are the only banksoffering this facility at

At Arms Length- Landmark Ruling of ITAT on Transfer Pricing of Captive Software Company

Posted by Abhiroop 12 November 2007 9116 Views

At Arms Length- Landmark Ruling of ITAT on Transfer Pricing of Captive Software Company- Mentor Graphics (Noida) Pvt Limited v/s DCIT (Delhi) Background In a landmark Ruling pronounced in the open court by the Income Tax Appellate Tribunal (Tribun

Capital Gain & Taxes...

Posted by Aisha 07 November 2007 8159 Views

With the boom in the economy witnessed over thepast five years, many salaried individuals and businessmen are leftwith surplus cash. It is not uncommon for people to invest inproperties and to dispose them off when the value appreciatessignificantly.

Tax savings a write up..

Posted by Aisha 06 November 2007 6911 Views

Tax-saving is a year-long business. This is because the returns matter as much as the tax saved through the investment. Death and taxes are a certainty. But, financial planning takes care of both. As far as taxes go, major tax-saving instruments are

Tax-exempt gifts from relatives and others

Posted by Aisha 05 November 2007 11145 Views

It is very common for people to receive gifts from friends and relatives. In some cases, gifts are also received from NRls. Let us consider the latest provisions of the Income Tax Act, 1961 regarding gifts, and analyse how individuals can achieve com