Articles by Manikanta Raju CA,CWA,(CS)

Carefully laid investment plans u/s 80C

Posted by Manikanta Raju CA,CWA,(CS) 12 May 2010 22563 Views

As per the latest budget amendments, for the AY 2011-12 a deduction of INR 20,000 has been proposed for investments made in notified long term infrastructure bonds. This deduction is in addition to the deduction available under section 80C in case o

A brief view on DT Code

Posted by Manikanta Raju CA,CWA,(CS) 06 January 2010 19097 Views

Introduction: One of the most critical drafts of Indian statutes was Income tax Act, 1961. In order to simplify the current tax structure government of India comes with a proposal of introduction of Direct Tax Code (DTC). The new Tax draft has given

Applicability of Sec 40(a)(ia) on year end TDS provisions

Posted by Manikanta Raju CA,CWA,(CS) 22 December 2009 165458 Views

Introduction: One of the important aspect during the tax audit is whether payments made towards specified expenditure attracts disqualification u/s 40(a) (ia) and applicability of this section to provisions made at the year end and its implications.

Recourse available against deductiabilty of TDS u/s 194A

Posted by Manikanta Raju CA,CWA,(CS) 18 December 2009 18986 Views

This topic is relating to problems faced by General Insurance companies providing third party insurance:-In most of the cases the accident victim in road accidents are poor and road side people. They will receive money from insurance companies by way

Taxability of Goods Transport Agency

Posted by Manikanta Raju CA,CWA,(CS) 18 December 2009 62861 Views

IntroductionGTA -“This taxable service means any person who provides service in relation to transport of goods by road and issues consignment note by whatever name called”Goods Carriage –any motor vehicle constructed or adapted for

EOU and its audit procedure

Posted by Manikanta Raju CA,CWA,(CS) 18 December 2009 39760 Views

Brief introduction of Export Oriented Unit (EOU):Units undertaking to export their entire production of goods and services (except permissible sales in the DTA), may be set up under the Export Oriented Unit (EOU) for manufacture of goods, including r

A breif note on IT scrutiny

Posted by Manikanta Raju CA,CWA,(CS) 18 December 2009 35375 Views

The below mentioned article broadly covers all important aspects relating to scrutiny proceedings carried out u/s 143(2)/(3) of the Income Act 1961. What is a scrutiny? It is not possible to the Income Tax Department to make regular assessment of al