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Taxation of hypothetical Income
In simple words Income tax is levied on income which has been received or has accrued. Income is said to be accrued when it becomes due, but it must also be accompanied by corresponding liability of the other party to pay the amount. Only then an income will be said to have accrued and is not a hypothetical income.
Income tax planning for a land developer
TAX PLANNING FOR A LAND DEVELOPERThere is no specific exemption is available in Income Tax Law to non-individual assesses to save tax on Gain on Sale of Immovab...
MAT: Retrospective tax is back?
IntroductionThere exists proverb in English �Once bitten, twice shy�. This proverb doesn�t hold well in case of Indian tax system. After facing the Backlash from the international investors in case of Vodafone retrospective case whi
Oligopoly of the Big 4s
Since at least the 1980s the audit market has functioned as an Oligopoly with few large firms providing the auditing services to the majority of large companies. The past three decades have seen a steady tightening of the oligop
A Briefing Of Labor Law
The basic principle of labor laws is to protect the interest of the employees by saving them from exploitation and harassment on the one hand and providing enough leverage and stick of good governance to employers so as to have conductive work cul
Section 51, Monies Forfeited Characterized With Other Sources
Finance bill 2014 has proposed to enhance the area of section 51, Forfeiture of advance money received in process of transferring a capital asset. The modification will elevate tax collec
Income Tax Refund Status
Income Tax Refunds Status on Website[Submitted by CA. Praveen Chopra,B.COM.,ACA,GANDHIDHAM]February 20, 2008As per Press reports -The Income Tax Department (Mumbai region) has put on its website the list of income tax refunds for assessment years 200
Compound levy on SS Patta/Patti units: Controversy continues
Compound levy on SS Patta/Patti units: Controversy continues Prepared By: CA Pradeep Jain, Sukhvinder Kaur, LLB [FYIC] Introduction: The issue involved in this piece was dealt by us in an earlier article titled “Controversy on Educati
One Person Company (OPC) - An Analysis
The introduction of OPC in the legal system is a move that would encourage corporatization of micro businesses and entrepreneurship with a simpler legal regime so that the small entrepreneur is not compelled to devote considerable time, energy and resources on complex legal compliances.
Pre Qualification Exp v Degree: Which is important for good salary
I know for sure this question crosses the minds for a lot of students for which perhaps you would have never got any conclusive answer. So, I am not saying that now after reading this article you would get a sure shot answer, but yes you might be in
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