Taxpayers Corner Articles

Capital Gains and Tax Exemption as per Income Tax Act, 1961

Posted by NILA REJESH P 17 September 2014 65889 Views

Capital Gains and Tax Exemption as per Income Tax Act, 1961Technical TermsSection 2(14) of Income Tax Act, 1961 defines Capital Asset as "Property of any kind held by the assessee whether or not connected with his business or profession but does not

India is My Country and To Pay Others Taxes is also My Duty

Posted by CA Umesh Sharma 18 August 2014 16606 Views

Karniti Part 50India is My Country and To Pay Others Taxes is also My DutyArjuna (Fictional Character): Krishna, In India on 15th August 68th Independence Day and on 17th August Shri Krishna Jannamashtmi was celebrated. Bhagwadgita has narrated the

Demand of Tax vs Pre Deposit

Posted by Dilip K Raina 04 August 2014 12721 Views

"Taxation should not be a painful process for the people. There should be leniency and caution while deciding the tax structure. Ideally, governments should collect taxes like a honeybee, which sucks just the right amount of honey from the flow

Budget 2104-15 : What's Good and What's Not So Good?

Posted by Prof. Bajaj 28 July 2014 18518 Views

We saw a deluge of analyses coming on Budget 2014 right from 11th July 2014. However, we chose to wait for clarifications and finer details so that readers get the right perspective for themselves.People would have different opinion about the budget

Government heading towards E-Collection of taxes

Posted by Pradeep Jain 17 July 2014 15266 Views

Introduction:- The Hon’ble Finance Minister, Mr. Arun Jaitley in his budget speech delivered on 10th July, 2014 had expressed his desire to create an e-biz platform that is aimed to create a business and investor friendly ecosystem in India by

Tax Evasion in India - Ways, Effect and Control

Posted by NILA REJESH P 23 June 2014 98696 Views

One of the major obstacle before India Government is Tax evasion. Tax evasion is the way people evade tax by illegal and unfair means. They may claim lesser profit, gains or turnover than actual. Even if

Export Promotion Capital Goods (EPCG) Scheme

Posted by CA. Dashrath Maheshwari 14 May 2014 51095 Views

Definition: EPCG Scheme has been introduced in India to promote import of capital goods for production of output which is exported. Eligibility Criteria Mainly:Scheme covers manufacturer exporter,

All about Joint Ventures

Posted by CA. Kapil Goel, DISA(ICAI) 20 March 2014 27911 Views

A Joint venture is an arrangement in which 2 or more individuals /companies / partnership firms /corporations/legal entities come together to undertake an economic or research activity by entering into an ag

Black and White Money Trail: How Shell Companies help this?

Posted by CA Bhavik Mehta 18 March 2014 20575 Views

Black and white money trail: How shell companies help this thriving business There are a few things that we very well know exist and still would not speak about, only because they have become part and parcel of our everyday life. Today we will talk a

Karniti Part 26:1st Step of March end, Prepare Comp. Balance

Posted by CA Umesh Sharma 07 March 2014 13981 Views

(March Ending Special Part 1)Take first feet, Prepare Comparative Balance Sheet Arjuna (fictional character): O Krishna, current Financial year is on verge of ending in the month of March. Government departments due to ma