Income Tax Articles

INCOME TAX ARTICLE

Posted by CA. Rayan Sequeira 06 October 2007 5968 Views

Wondering what this article is all about?? Creatures of nature & food featuring in an Income tax Article? Yes, This article is something about creatures and their food. Don't you people feel it's always a boredom to talk about law and sections? S

FILLING LOWER TDS? GET READY FOR A CALL FROM I-T

Posted by CA Nikita 04 October 2007 4154 Views

Individuals trying to evade taxes by getting a lower tax deducted at source may soon get a call from the tax collector. The finance ministry is planning to crack the whip on those trying to conceal their income and evade taxes through the system of t

MNCS GET TAX BREATHER ON ASSET SALE

Posted by Ravikumar.G 04 October 2007 4967 Views

Foreign companies selling assets in India could end up enjoying a concessional rate of capital gains tax of 10% even if these companies enjoy the foreign currency fluctuation benefit.This follows the ruling by the Authority for Advance Rulings (AAR)

Public Documents as 3rd party documents under the RTI Act

Posted by CA Nikita 02 October 2007 8531 Views

How can Public Documents under the Indian Evidence Act be treated as 3rd party documents under the RTI Act to deny its access-Rajib Gupta I was always under the impression that the laws are made to infuse discipline & serve the ends of justice &a

Cyprus: An Alternative Structuring route

Posted by Abhiroop 02 October 2007 5195 Views

Cyprus: An Alternative Structuring route Cyprus is emerging as one of the alternative jurisdictions for structuring of Investments and is fast emerging as one of the most favoured jurisdictions. The advantages that Cyprus offers are many to make

At Arm's Length - A Perspective of the Transfer Pricing Regulations in India

Posted by Abhiroop 02 October 2007 6257 Views

At Arm's Length - A Perspective of the Transfer Pricing Regulations in India The rapid globalization of the Indian economy has seen the entry of the multinationals into India and with it increasingly complex international transactions being entered

Depreciation on leasing

Posted by Ankit Dangayach 01 October 2007 7720 Views

Depreciation on leasing? An ageing puzzleUnder the Income Tax law, two most important conditions for tax depreciation claim pertain to ownership and usage of the asset. As is the case on any other contentious matter, history is replete with judicial

Revenue tries to pierce the corporate veil

Posted by Ankit Dangayach 01 October 2007 6519 Views

Revenue tries to pierce the corporate veil In the recent past, controversy in relation to taxability of offshore sale or transfer of security in a foreigncompany (offshore special purpose vehicle (SPV)) has been consuming the energy of taxpayers and

Income Tax - Modern History of Income Tax

Posted by Ravikumar.G 01 October 2007 21117 Views

The Income Tax history in modern India dates back to 1860. In this year first Income Tax Act was introduced and which remained in force for a period of 5 years. This Act lapsed in 1865. Thereafter Act-II of 1886 was in force. This Act of 1886 was the

Some issues with Annual Information Return and Income-tax Return

Posted by CMA Gul S 01 October 2007 16059 Views

S.285BA of the Income-tax Act (Act) read with Rule 114E of the Income-tax Rules (Rules) requires certain specified persons to file Annual Information Returns (AIR) every year. Income-tax Return Forms, ITR - 1, 2, 3 and 4, applicable to Individuals/H