Popular Articles

Income Tax changes in the month of Nov 2019

Nageswara Rao Jammigumpula 05 December 2019 at 17:30

The objective of this document is to summarize all the updates of Income Tax (Notifications, Circulars, other amendments and updates) in one place.

Notable Changes in Form 15CA and 15CB

Gaurav Jain 18 December 2015 at 15:13

The CBDT has amended Rule 37 BB of the Income-tax Rules and made notable changes which are as under:i. No Form 15CA and 15CB will be required to be furnished by an individual for remittance which do not requiring RBI approval under its LRS.ii. Furthe

Cash basis of accounting followed by non corporate entities

Vivek Hebbar 28 August 2012 at 11:27

Note on Cash Basis of Accounting followed by non-corporate entities in India Non-corporate entities in India may include an individual, a proprietory concern, a Hindu Undivided Family (HUF), a partnership firm, a LLP, a trust, etc. Unlike a

Summary on Transfer Pricing

CA Vinay parmar 05 July 2013 at 12:34

Summary on Transfer Pricing 1) Introduction :- Transfer pricing was introduced basically to curb the tax evasion practices followed by many Multinational Groups having presence in India. These Multinational Groups normally transfer their taxable pr

Free Samples & Promotional Items under GST with examples

Vikas Modi 05 July 2017 at 11:23

Free Samples & Promotional Items under GSTINPUT TAX CREDIT ON FREE SAMPLES Section 16(1) of the CGST ACT Provides that every registered person entitled to t

Highlights of 98 Sections of Companies Act, 2013

CS DHANAPAL 05 December 2013 at 10:49

An analysis of the important Sections! The Ministry of Corporate Affairs has notified 98 sections of the new Companies Act, 2013. These sections have come into effect from 12th September 2013. Subsequent to coming into effect of these Sections under

Re-assessment Provisions under Income tax Act,1961

shina kampani 15 July 2013 at 12:06

Re-assessment Provisions under the Income Tax, 1961 Re-assessment is assessing the income of the assessee that is already being assessed once and also any other income which comes to the notice of the AO subsequently during the Re-assessment proceed

Concept of Advance tax

CMA Ramesh Krishnan 08 August 2011 at 12:10

Concept of Advance tax Introduction: According to sections 208 of the Income tax Act 1961, tax shall payab

Renting of Immovable Property Service

Madhukar N Hiregange 31 January 2011 at 10:38

Renting of Immovable Property Service By Madhukar N Hiregange FCA Albert Einstein - Nothing is more destructive of respect for the government and the law of the land than passing laws, which cannot be

Taxation of gifts to NRIs and changes in Budget 2023-24

FCS Deepak Pratap Singh 10 February 2023 at 09:51

The Budget 2023 has also not disturbed taxation regime of NRIs except some provisions have been changed. The Shares generally issued to NRIs are of higher value and issuer's explanation to valuation is not satisfactory and hence the excess value above FMV will be taxable and any property gifted to NORI above Rs. 50000/- is chargeable to tax in India.