Posted Date : 05-Jun-2014 , 11:41:16 am | Posted By CA Abhay Agrawal

Tribunal   Subsequent commercial-use cannot disentitle Sec 54F exemption if building constructed for residential-purpose: Relevant factor to judge is whether construction is made for residential house or commercial purpose, merely because building used as a school cannot change natu...

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Category : Income Tax | Comments : 0 | Hits : 707

Posted Date : 03-Jun-2014 , 12:37:18 pm | Posted By Vivek Sahu

As per the Central Finance Budget 2013, a new Income Tax Section has introduce under section 87A, where can get relief as well as Rebate Maximum Rs. 2,000/- who’s taxable income up to 5,00,000/-. For more clarification about this new section under clauses 19 & 20 of the Central Budget 2013...

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Category : Income Tax | Comments : 0 | Hits : 545

Posted Date : 02-Jun-2014 , 03:51:38 pm | Posted By Vivek Sahu

Specified class or classes of persons to be exempted from filing Return of Income [Section 139(1C)]. (1) Under section 139(1), every person has to furnish a return of his income on or before the due date, if his total income exceeds the basic exemption limit. (2) For reducing the compliance bu...

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Category : Income Tax | Comments : 0 | Hits : 817

Posted Date : 02-Jun-2014 , 07:55:32 am | Posted By Vimmi

A gift from someone is always welcome. The hitch is when some, especially financial gifts, become taxable. Even so, not always; gifts from relatives are exempt from income tax (I-T). And, gifts from non-relatives can also be tax-exempt, under certain conditions. Some assets fo...

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Category : Income Tax | Comments : 0 | Hits : 1477

Posted Date : 30-May-2014 , 11:33:52 am | Posted By Vijeta Nathani

Circular No: NSDL/TIN/2014/024               Subject: Revised procedure for acceptance of e-TDS/TCS correction statements and upload of scanned documents to TIN Central System Attention of all TIN Facilitation Centers (TIN-PCs) is in...

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Category : Income Tax | Comments : 0 | Hits : 695

Posted Date : 08-May-2014 , 10:42:03 am | Posted By Rimpy

High Court imposes costs of Rs. 50,000 on AO for filing frivolous appeal & wasting public money & judicial time     Though the Bench clearly indicated to the department’s counsel that the appeal had no merit and gave the department an opportunity to withdraw, the department...

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Category : Income Tax | Comments : 1 | Hits : 434

Posted Date : 05-May-2014 , 07:10:05 am | Posted By Anita Arora

An education loan can not only fund your higher studies but also help save tax. The interest paid on the education loan can be claimed as deduction, as per Section 80E of the Income Tax Act, 1961.   Top 10 Things to Know: The income tax benefit can only be claimed on inte...

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Category : Income Tax | Comments : 0 | Hits : 714

Posted Date : 01-May-2014 , 07:36:32 am | Posted By May I Help You.

Excess TDS paid can be claimed in the next quarter as per the CIRCULAR NO. 2/2011 [F.NO. 385/25/2010-IT(B)], DATED 27-4-2011. However the circular will not be applicable to TDS on non residents falling under Sections 192, 194E, 195 of the Income Tax Act 1961.   Further as per ...

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Category : Income Tax | Comments : 0 | Hits : 6069

Posted Date : 28-Apr-2014 , 08:05:40 am | Posted By CA Vijeta Verma

You have got an offer from a company to either join as an employee or a consultant. Before you decide, know the tax implications between the two options as they differ significantly.   The income received as fees from professional or technical services rendered is classified as income from bu...

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Category : Income Tax | Comments : 0 | Hits : 1070

Posted Date : 21-Apr-2014 , 07:41:06 am | Posted By Surendra Kumar Dash

Negative List of Service Tax 2013-14   Negative list of Service Tax is comprised of following 17 heads. I have given all the 17 heads of negative list of Service Tax below. Services by Government or a local authority excluding the following services to the extent they ...

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Category : Income Tax | Comments : 0 | Hits : 1198

Posted Date : 20-Apr-2014 , 08:35:32 pm | Posted By Anchal

Like the most salaried people in India, if you have not sold any shares or mutual funds in the last one year; you only have to fill the simple ITR-1 Sahaj. Let us see how to prepare for and fill ITR-1 Sahaj. This is a simple one-hour procedure, and only needs basic comfort with MS Excel. ...

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Category : Income Tax | Comments : 0 | Hits : 711

Posted Date : 04-Apr-2014 , 07:32:28 am | Posted By Vimmi

Want to gift a property or life time savings to your loved ones? Or have you received a car as a gift on your birthday? Are you worried about the cash gifts received on your wedding? Enjoy giving or receiving gifts guilt-free once you are mindful of the gifting provisions in India. As per current...

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Category : Income Tax | Comments : 0 | Hits : 1008

Posted Date : 16-Mar-2014 , 01:39:37 pm | Posted By ARUN GUPTA

“WEBSITE”-WHETHER CONSTITUTES A PERMANENT ESTABLISHMENT IN THE SOURCE COUNTRY                                   &...

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Category : Income Tax | Comments : 0 | Hits : 647

Posted Date : 14-Mar-2014 , 09:26:53 pm | Posted By Anchal

Salary, in simple words, means remuneration of a person, which he has received  from his employer for rendering services to him. But receipts for all kinds of  services rendered cannot be taxed as salary. The remuneration received by  professionals like doctors, architects, lawyers...

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Category : Income Tax | Comments : 0 | Hits : 356

Posted Date : 09-Mar-2014 , 01:14:56 pm | Posted By CA GOURAV MURARKA

सेंट्रल बोर्ड ऑफ डायरेक्ट टैक्सेस (सीबीडीटी) ने ई-र...

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Category : Income Tax | Comments : 0 | Hits : 834

Posted Date : 04-Mar-2014 , 06:11:41 pm | Posted By Ankur Kumar Gupta

INTRODUCTION   On retirement, an employee normally receives certain retirement benefits. Such benefits are taxable under the head ‘Salaries’ as “profits in lieu of Salaries” as provided in section 17(3). However, in respect of some of them, exemption from taxation is g...

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Category : Income Tax | Comments : 0 | Hits : 616

Posted Date : 17-Feb-2014 , 05:47:11 am | Posted By Smit Shah

Accounting and Tax Implication on conversion of Private Company to LLP   Before starting with anything we shall have the Overview of LLP its Enactment, features, Constitution etc.   Background of LLP:   LLP as a structure is not new in the International Scenario .Most western ec...

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Category : Income Tax | Comments : 0 | Hits : 1559

Posted Date : 14-Feb-2014 , 08:16:15 am | Posted By Vimmi

Here are some tips for tax planning if you are looking for tax saving instrument.   ► Calculate what is the exact amount still pending for investment to get the benefit u/s 80-C. If you are not sure then, consult your C.A. or Tax Consultant. You can also consult Financial Plan...

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Category : Income Tax | Comments : 0 | Hits : 1553

Posted Date : 21-Jan-2014 , 11:55:19 am | Posted By Surendra Kumar Dash

TDS related forms and rules regarding digital signature of TDS return has been changed through INCOME-TAX (SECOND AMENDMENT) RULES, 2013 – AMENDMENT IN RULES 31A & 31AA; SUBSTITUTION OF RULES 31ACB, 37J and FORM NOS.15G, 15H, 16, 16A, 24Q, 26Q, 27C, 27D, 27Q & 27EQ and INSERTION OF FOR...

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Category : Income Tax | Comments : 0 | Hits : 347

Posted Date : 16-Jan-2014 , 01:47:24 pm | Posted By CA Ramesh K Chhajer

 CA FINAL RESULT ANALYSIS Exam Group I Group II Both Group   Appear Passed Pass % Appear Passed Pass % Appear ...

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Category : Income Tax | Comments : 0 | Hits : 518