CAclubindia Articles

Detailed Analysis- Gifts Taxation under IT Act

caushagarg 05 July 2014 at 13:23

Taxability of Gift under Income Tax Act, 1961As per Income Tax Act, receiver (donee) of gift is charged to taxation u/s 56(2)(vii). The donor of gift is not charged to taxation under this section. However, the below cases is analyzed from the taxatio

Taxation Of Charitable Trust

PRATIK SHAH 05 July 2014 at 13:22

Registration and Taxation of charitable & Religious Trust Preamble:According to one survey in India there is 1 N.G.O per 800 Indian Citizen. We cant find even a single village in India where there is no Religious place. We might not fin

Experts seek a pathbreaking Budget

Nilesh Patel - CPA (USA), IRS 05 July 2014 at 13:22

I. International Tax Foreign Tax Credit Q. 1. Currently Taxpayers are unable to carry forward unutilized (excess) Foreign Tax Credit (FTC) to future years, and set off such unutilized FTC against the tax liability in the succeeding years. Thi

CBEC seeks adherence to judicial discipline in refund cases

Bimal Jain 05 July 2014 at 13:22

CBEC seeks adherence to judicial discipline in the matter of refundsThe Central Board of Excise & Customs (the CBEC) has issued Instruction F. No. 201/01/2014-CX.6 dated June 26, 2014 (the Instruction) for all the Comm

How to check your Income Tax Refund online

CA Chirag Chauhan 04 July 2014 at 11:35

Many people are not aware about that their tax refund status. The Refund status can be easily ascertained online with a few simple and easy steps. The Refund Banker Scheme', which was first introduced by the Income Tax Department in Jan 20

Deductor to be deemed as assesee in deafult only in respect of actual tax liability of Non-Resident

Amit Bajaj 04 July 2014 at 11:35

CBDT in its instruction No. 2/2014 [F No. 500/33/2013-FTD-l], Dated 26-02-2014 issued in view of the judicial develpments in the cases of GE India Technology P Ltd. vs CIT [2010] 7 taxmann.com and Transmission corporation of AP Ltd v. CIT [1999] 105

Deposits & Private Companies- Companies Act, 2013

Satvir Singh 04 July 2014 at 11:35

Loans from shareholders, directors & their relatives has been a major & easy source of finance for many private companies. However, with new Companies Act, 2013 bringing all such loans, except from directors, under the ambit of deposits, all

Frequently Asked Questions on Companies Act, 2013

Guest 04 July 2014 at 11:35

Disclaimer: The Institute has set up a dedicated e-mail id for posting operational difficulties and views relating to Companies Act, 2013. Several pertinent and relevant queries with regard to the Companies Act, 2013 have been received from the stake

How to maintain work life balance?

CA Vijeta Verma 02 July 2014 at 15:40

It is a very well known fact that our outer world is exactly the reflection of our inner world. But if the funda is as simple as we receive back only what we give out then why there is so much hassle and hotchpotch in our lives. No doub

Development agreement is also an agreement for sale subject

Rupesh Srivastava 01 July 2014 at 12:34

Recently Hon`ble High court held, The development agreement is also an agreement for sale subject to certain conditions. In short, it is an agreement for conditional sale. (i) Whether the suit at the instance of a developer is not maintainable