Posted Date : 02-Nov-2015 , 12:57:29 pm | Posted By Gautam Gupta

Taxation for Capital Market                                                                              ...

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Category : Income Tax | Comments : 0 | Hits : 881

Posted Date : 29-Oct-2015 , 11:34:09 am | Posted By RAGHAV GUPTA

Key Point and Analysis of Final Rules on ‘Range Concept’ and ‘Multiple year data’ in Transfer Pricing provisions   Introduction The Income-tax Act provides for determination of income having regard to Arm’s Length Price (ALP) in case of international transa...

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Category : Income Tax | Comments : 0 | Hits : 810

Posted Date : 23-Oct-2015 , 04:05:29 pm | Posted By VINAMAR GUPTA

Special Bench presided by ITAT President Mr. DD Sud in the case of National Agriculture Co-operative ITA  1999 & 2000/Del/2008 pronounced on 16-10-2015 has touched and dealt at length the issues of deductibility of expenses in case of Contractual and Statutory liability disputes with the ai...

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Category : Income Tax | Comments : 0 | Hits : 434

Posted Date : 15-Oct-2015 , 05:45:47 pm | Posted By Manan Gupta

All About HUF Meaning;   What is an HUF? As the name suggests, an HUF is a family of Hindus. However, even Buddhists, Jains and Sikhs are regarded as Hindus, and can, therefore, set up HUFs. The concept of an HUF has basically evolved from ancient Hindu law. There are two scho...

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Category : Income Tax | Comments : 0 | Hits : 1021

Posted Date : 05-Oct-2015 , 03:35:08 pm | Posted By Manan Gupta

Firstly to understand the provisions & needs of Form 15CA & 15CB, we have to understand the income Tax  Act & Rules made behind the compliances and transactions required the compliances of Form 15CA & 15CB.  Section 195(6)of Income Tax Act-  The person responsible f...

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Category : Income Tax | Comments : 2 | Hits : 2684

Posted Date : 25-Sep-2015 , 12:25:39 pm | Posted By Gautam Gupta

Reporting Financial Institution and their registration under income tax Act, 1961 and submission of form 61B Chapter-1   According to the amended provisions of Section 285BA(1)(k)of the Income Tax Act, 1961, some prescribed reporting financial institutions need to furnish a statement of finan...

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Category : Income Tax | Comments : 0 | Hits : 451

Posted Date : 07-Sep-2015 , 01:24:34 pm | Posted By Ankit Gupta

1. Forget Sending ITR V to Income Tax Department Every Tax Payer is required to send a duly signed copy of ITR V form to Income Tax department within 120 days of e filing an Income Tax Return at “Income Tax Department – CPC, Post Bag No. 1, Electronic City Post Office, Banglore – ...

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Category : Income Tax | Comments : 0 | Hits : 1245

Posted Date : 27-Aug-2015 , 12:10:28 am | Posted By GOVIND NARAYAN SHARMA

          TIME LIMITS FOR ISSUANCE OF NOTICES, ORDERS UNDER DIFFERENT SECTIONS OF INCOME TAX ACT, 1961           Income Tax Act, 1961 contains different time limits for i...

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Category : Income Tax | Comments : 0 | Hits : 2301

Posted Date : 25-Aug-2015 , 03:39:45 pm | Posted By Simran Singh

CPC (TDS) has released an advisory communication to all deductors and taxpayers regarding spurious email. CPC (TDS) has advised them to maintain strong Password for User account at TRACES and must not share the User ID / Password with any unauthorized user. The released communication has been giv...

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Category : Income Tax | Comments : 0 | Hits : 772

Posted Date : 14-Aug-2015 , 08:04:22 am | Posted By Vimmi

Dear Taxpayer, Greetings from Centralized Processing Center (CPC) - Bangalore. As the due date for filing the Income Tax Return for Assessment year 2015-16 is approaching, please find below certain important points which will be helpful in submitting a correct return and its processing at CPC, Ban...

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Category : Income Tax | Comments : 0 | Hits : 3061

Posted Date : 06-Aug-2015 , 06:29:14 pm | Posted By Vikas Pathre

So! I guess most of us, specially who are not professionals, would be busy in searching over net the available deductions and instructions to file ITRs. Apart from a duty to contribute to the development of nation in form of taxes and filing ITRs, it is also necessary to claim refund of taxes...

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Category : Income Tax | Comments : 0 | Hits : 1200

Posted Date : 01-Aug-2015 , 08:08:03 pm | Posted By Soniya

An Assessee is eligible to claim refund of the excess tax paid by him. Tax could be paid in the form of advance tax or tax deducted/collected at source or self - assessment tax or payment of tax on regular assessment.   To claim refund, an assessee need to E - file Return of Income submitting...

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Category : Income Tax | Comments : 0 | Hits : 615

Posted Date : 26-Jul-2015 , 11:39:33 am | Posted By Soniya

CTC is cost to company and the components are Basic +HRA +CONVEYANCE +MOBILE REIMBURSHMENT +MEDICAL reimbursement +All allowances +LTA +employer contribution of PF +Employer Contribution towards ESI +Total variable incentives +Perks & benefits + Insurance Premium (in case of Group insurance) Ba...

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Category : Income Tax | Comments : 0 | Hits : 940

Posted Date : 23-Jul-2015 , 10:11:04 pm | Posted By Soniya

What is Form 16:- If you are salaried employee in an organization, then you will get the salary after deducting tax by the employer. Therefore Form 16 is a certificate issued to you by your employer stating the Personal details of the Employee including Name, Permanent Account Number (PAN) etc , &nb...

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Category : Income Tax | Comments : 1 | Hits : 1314

Posted Date : 21-Jul-2015 , 04:11:30 pm | Posted By Soniya

Income from MFs could take two forms—dividends and capital gains, The entire income received in respect of units of a Mutual Fund, registered with the Securities & Exchange Board of India, will be exempt from income-tax in accordance with the provisions of Section 10(23D) of the Income-ta...

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Category : Income Tax | Comments : 0 | Hits : 383

Posted Date : 21-Jul-2015 , 04:10:24 pm | Posted By Soniya

Some unusual ways of saving Income Tax in India not known to many people is here under:   HUF CREATION: HUF is considered as a separate entity which has its own PAN No and is therefore taxed separately. This helps to separate tax obligations of an individual from that of his family. Tax slabs...

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Category : Income Tax | Comments : 0 | Hits : 1741

Posted Date : 21-Jul-2015 , 04:02:31 pm | Posted By Soniya

To file Income tax return or to View your tax credit statement in Form 26AS   you need to register yourself on the Income tax website https://incometaxindiaefiling.gov.in/   Now the Steps for filling online return are hereunder:   Step 1: Open the Income Tax portal https://i...

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Category : Income Tax | Comments : 0 | Hits : 745

Posted Date : 14-Jul-2015 , 01:21:11 pm | Posted By Ankit Gupta

POINTS TO BE CONSIDERED BY TAXPAYER BEFORE FILING AN INCOME TAX RETURN      1. Due Date of Filing of Income Tax Return is proposed to be extended to 31 August ‘2015 in respect of Assessment Year 2015-2016.    2.The maximum amount of deduction available ...

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Category : Income Tax | Comments : 0 | Hits : 1459

Posted Date : 28-Jun-2015 , 01:41:24 am | Posted By Ratan Nagraj

If listed Long term shares  have been sold on Recognised Stock Exchange and if on sale Transaction  STT have been paid then Long term capital gain shall be exempt from Capita Gain Tax u/s 10(38) and short term capital gain shall be taxable at the rate of 15 % u/s 111A of Income Tax Ac...

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Category : Income Tax | Comments : 0 | Hits : 490

Posted Date : 24-Jun-2015 , 11:31:10 am | Posted By Ankit Gupta

ITR FORM NO.                 WHO CAN USE THIS RETURN FORM           WHO CANNOT USE THIS RETURN FORM    ITR-1 SAHAJ This Return Form is to be used by an indi...

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Category : Income Tax | Comments : 0 | Hits : 1057