Income Tax Articles

Works Contracts VS Contract of sales Whether Tax Deduction

Posted by taxindiaconnect 21 May 2009 36253 Views

Works Contracts VS Contract of sales – Whether Tax Deduction is required u/s 194C.Background - Chapter XVII of Income tax Act 1961 ( The Act) provides for the collection and recovery of tax from the assessee. Deduction of Tax is one of the var

CROSS BORDER M&A-TAXATION ISSUE

Posted by GAURAV 12 May 2009 20525 Views

Cross-border mergersandacquisitions - Addressing the taxation issues from an Indian perspectiveGAURAV GOELThe boom in cross-border Mergers and Acquisitions (M&A) has given new urgency to understanding and managing the complex tax consequences of

Non Compete Fees - Taxability Issues

Posted by taxindiaconnect 09 May 2009 43841 Views

Non Compete fees – Taxability issues The question whether a particular receipt has been a revenue receipt or a capital receipt has constantly been inviting the attention of tax payers, the law makers, the tax advisors and the Courts. The contr

Hindu Undivided Family

Posted by CA. Amit Daga 07 May 2009 33440 Views

HOW ONE CAN CREATE HUF(HINDU UNDIVIDED FAMILY) ? Though every body is interested in this question and this question has been asked by many and generally not have any answer in text book also, why it so ? The answer is very interesting that the above

Can Tribunal take back what assessing officer has given??

Posted by Hiral Raja 05 May 2009 7027 Views

Sub-section (1) of section 254 of the Income Tax Act, 1961 states as under: "254. (1) The Appellate Tribunal may, after giving both the parties to the appeal an opportunity of being heard, pass such orders thereon as it thinks fit." The mo

Utter Confusion about EPayment & EReturns

Posted by Mahesh 02 May 2009 6895 Views

It seems that the government departments are over enthusiastic about introduction of new ideas without doing the proper groundwork. In fact, they are making mockery of their master; the taxpayer.Some of the instances of such mockery are-1)

Are I-T Forms Saral!

Posted by Mahesh Kapasi 24 April 2009 5453 Views

Are I-T Forms Saral!The Forms for Income Tax at present are most complicated to fill in for most taxpayers -it requires assistance from Chartered Accountants / tax practioners and TRP etc. One page, Saral Form for all tax payers must be re-introduced

Business Income vs Charitable Institutions

Posted by Dilip K Raina 15 April 2009 14639 Views

Business Income vs Charitable Institutions “I cannot forget the services rendered by the commercial class, but I want you to make Congress your own and we would willingly surrender the reins to you. The work can be better done by you. But if

Remission of Loan

Posted by ankush 24 March 2009 11881 Views

Remission of Unsecured LoanCase for Taxability u/s 41(1) vis-à-vis 28(iv)Brief facts for issue in discussion are as under- ABC Pvt. Ltd had taken unsecured loan from various parties. For the first 2 years the company paid interest regularly a

Penalty u/s. 271(1)(C)

Posted by Hiral Raja 24 March 2009 154895 Views

If the Assessing officer or Commissioner (Appeals) in the course of any proceedings under the Act is satisfied that any person has concealed the particulars of his income or furnished inaccurate particulars of such income, then he can direct that suc