New 1% Cess became effective for Income Tax from 1st Apr-07 before the Finance Bill 2007 getting assent of President.
However for Service Tax the same become effective after assent of President.
Why is So?
Income Tax
For the purpose of calculating Book Profits u/s 115 JB will the amount transferred from the Securities Premium Account to the profit and loss account be added back to the Net Profit?
Regards
N.Muralidharan Menon
NRI Tax Provision
Hello sir
is the divindend received from mutual fund units is taxable in the hands of NRI,if yes,is it advisable to invest in the name of spouse of the NRI(by treating the amt. received from NRI as gift) or is there any better option available
Section 2(12A) of Income Tax Act
Whether it is necessery to keep hard copy of the books of account as per IT act. If yes then what is the objective to insert section 2(12A) in the act
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