Income Tax Articles

Doing Business in India: Budget 2007-2008

Posted by CA Nikita 11 September 2007 6543 Views

Archana Rajaram and Daksha BaxiNishith Desai Associates, Mumbai ________________________________________The Budget presentation by the Indian Finance Minister ('FM') is an important annual fiscal event for the nation. It not only narrates the fiscal

Wealth Tax Amendment

Posted by CMA Gul S 10 September 2007 4725 Views

Wealth-tax (First Amendment) Rules, 20077 August 07Wealth-tax (First Amendment) Rules, 2007 - Amendments in rule 4A, substitution of rule 4AA and Form DA; insertion of Form DAANotification No. 216/2007 [F. No. 142/11/2007-TPL], dated 7-8-2007In exerc

Inconsistencies in the TDS/TCS return

Posted by Admin 08 September 2007 6258 Views

Directorate of Income Tax (Systems) has sent letters todeductors giving the details of inconsistencies in the TDS/TCS returnfiled. The details pertain to the first three quarters of F.Y. 2006-07.The following explains the various possible problems in

Nil TDS return

Posted by RAJAN GUPTA 08 September 2007 7255 Views

If there is no deduction in a particular quarter, should I file the NIL etds statement?The answaaykarbhavan group er is no,The filing of a NIL statement is not mandatory.As per section 200(3)Any person deducting any sum on or after the 1st day of Apr

OFFICIAL WORD ON:IS NIL TDS RETURN MANDATORY

Posted by RAJAN GUPTA 08 September 2007 7274 Views

In my view its not mandatory,now dept has given some clarification on this subject,though not directly on this subject but while answering the FAQ on form 24 Q ,Q4,it has been made clear that nil etds statement is not mandatory. But return 24q q4 sho

Take Care and make ur life easier-CA's

Posted by CA Nikita 06 September 2007 6243 Views

- At early age if the person manage to have his own residence house. He would prefer to go for that first. It will not only give the benefit of tax, but vis-à-vis offers security in life. He would also think of the following option availabl

DO & DONT"S while TAX DEPOSIT

Posted by Aisha 05 September 2007 7294 Views

1) TAX DEPOSITDo(a) TDS/ TCSi . Use challan type 281 for deposit of TDS/TCS.ii. Quote the correct 10-digit Tax Deduction Account Number (TAN) and name & address of the deductor on each challan used for depositing tax. You may verify your TAN deta

SCOPE OF THE ETDS/ETCS STATEMENT ENHANCED

Posted by RAJAN GUPTA 01 September 2007 4807 Views

CBDT has enhanced the scope of filling Etds/Etcs return by amending the rule 31A(applicable on etds) and 31AA(applicable on etcs) vide Income-tax (Ninth Amendment) Rules, 2007NOTIFICATION No. 238/2007, dated 30-8-2007.Now following person are liable

Doctrine of Unjust enrichment

Posted by nikunj 26 August 2007 15875 Views

11B: DOCTRINE OF UNJUST ENRICHMENT · In UOI Vs. Solar Pesticides (P) Ltd. (2000) it has been held that the provisions of unjust enrichment is applicable also in respect of captive consumption of inputs. · In C.C.Ex Vs Allied Photographics (Sc

Tax filing isn't easy in India!!

Posted by CA Nikita 23 August 2007 5116 Views

The month of July is associated with the time for filing returns of income by individual taxpayers. The government has recently notified new forms for filing income tax returns. These forms replace the old ones. Any person planning to file her return