Income Tax Articles

EXEMPTION U/S.54-F

Posted by Arihant 22 August 2008 12210 Views

EXEMTION U/S. 54-F IS AVAILABLE IF THE INVETMENT IS MADE OUT OF INDIA.In an article published in a tax journal, an advocate and tax consultant from Ahmedabad had expressed the view that exemption from capital gains can be availed of under Sections 54

HUF Tax Plannig

Posted by Sarvesh Mani Tiwari,CFA(ICFAI) 05 August 2008 14791 Views

Typically, taxpayers tend to focus on ways of reducing only their own tax burden. This is a normal thing to do, but far greater tax savings are possible when the family as a whole is considered as a tax paying unit.By combining the leeway offered by

FBT - Amendments during initial phase of FBT

Posted by Admin 03 August 2008 11674 Views

FBT - Amendments during initial phase of FBT about estimation of value of Fringe Benefits can be considered applicable since inception of FBT. A point of view.Summary:Provisions relating to FBT are new. FBT is levied on estimated value of fringe and

taxability of farm house as per wealth tax act

Posted by CA Ankur Luhadia 27 July 2008 17762 Views

TAXABILITY OF FARM HOUSE - Ankur Luhadia U nder wealth – tax , before taxing any person, it must be shown that the person sought

Indians-Most Intelligent but worst Systems

Posted by Md. Riazuddin 23 July 2008 7046 Views

It is rather strange to note that we (Indians) are regarded as the most intelligent people in the world. Our intelligence is being utlised to better the systems and procedures in developed nations. Whereas, at home the entire system is messed up. One

Norms for filing TDS/TCS returns

Posted by CA. A. Kumar 07 July 2008 12787 Views

All tax deductors / collectors are required to file the TDS/TCS returns in Form No.24Q (for salaries), Form No.26Q (for payments other than salaries) or Form No.27EQ (for TCS). These forms require details of all tax deductions with name and permanent

RELATIVES UNDER THE INCOME TAX ACT - A RELATIVE CONCEPT

Posted by CA Pradip Shah 04 July 2008 379330 Views

[This article appeared in TAXMAN-Volume 156 Page 89 dt. 21st Oct. 06 ] RELATIVES UNDER THE INCOME TAX ACT – A RELATIVE CONCEPTBy CA Pradip R. Shah Human Society – a cobweb of relationships1.0 Human being is called a social animal. The

Set off and Carry forward of Losses - Students guide

Posted by PC-www.bharadwajinstitute.com 21 June 2008 71327 Views

I SET OFF OF LOSSES (Sec 70 and 71) Set off of losses refers to adjustment of current year losses against current year incomes. Rules A: Set off of losses – Intra head adjustments (Inter source adjustments) Loss from one source of income can

House property Income Computation

Posted by PC-www.bharadwajinstitute.com 21 June 2008 170056 Views

Income from House Property (Section 22 to 27) HP under Rent Control Act HP not covered under Rent Control Act a. FRV or MRV whichever is higher b. Amount (a) or SR whichever is

TAX PAYMENT BY CHEQUE BEFORE DUE DATE CASHED AFTER DUE DATE

Posted by RAJAN GUPTA 18 June 2008 40094 Views

The question before us is"if tax is deposited on or before due date through cheque but en cashed after the due date ,whether it can/will be treated as "default in payment?" First of all I take clear provisions regarding the above quest