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Dividends under Income Tax Act
Dividend in simple words, refers to the amount paid to shareholder in proportion to the shareholding in the company, out of the total sum so distributed.Let�s look at the meaning of dividend as per Income Tax Act. As per Section 2(22)
POEM - Redefining taxation of foreign arms managed from India
POEM � is the buzzword of corporates having subsidiaries outside India and foreign firms outsourcing high end critical functons to India . This concept is introduced to tax in India income which has been earned by foreign corporations managed
Understanding Section 54
Capital gains is one of the most complicated heads of income envisaged in the Income Tax Act, 1961.Capital gains tax directly affects the investment decisions one may have to take. There are various options available under law to avoid paying capital
No books, no penalty u/s 271B
I would like to discuss through the article, more on the controversial issue of non imposition of penalty under Section 271A and 271B if no books of accounts are prescribed under section 44AA with a recent case law. Before we go deep into the topic
Tax collection at source: An Introduction
Tax in simple words refers to a compulsory contribution made to the government on a product, income or activity. The government uses the revenue from taxes to discharge the duties it has towards the people. I would like
Interest u/s 234A, 234B and 234C
Interest u/s 234A, 234B and 234C. Know how much interest required to be paid if delay in filing of tax returns, delay in payment of Advance Tax and deferment of Advance Tax.
Tax deduction at source: An Introduction
Introduction Tax is one of the major sources of revenue for the government of India, which is primarily utilized for meeting various obligations it has towards the people like education, infrastructure, defence and so on. Income tax turns out to
The Indians' Craze For Gold
Gold is a precious metal which is well-known for its shiny, yellow colour. It got its name 'gold' from an Anglo-Saxon world 'gelo', which means yellow. On the other hand, in Chemistry, it has been
Grab your Opportunity as it knocks
Knock Knock.Who is it?It is me Opportunity.What! Opportunity?But,wait a minute. No. You aren't opportunity.Yes I'm.No you aren't. Because opportunity knocks only once. But you have knocked twice.A simple story to con
Learning lessons from Dravid
Rahul Dravid, the legendary Indian cricketer, known better as 'The Wall' has retired. Well, this was a rather sudden decision taken by the great batsman who has played the role of an anchor and has successfully performed innumerable times f
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