Posted Date : 25-Nov-2013 , 09:34:56 pm | Posted By Anjali Arora

Overview of TDS  TDS is one of the modes of collection of taxes, by which a certain percentage of amounts are deducted by a person at the time of making/crediting certain specific nature of payment to the other person and deducted amount is remitted to the Government account. It is similar t...

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Category : Income Tax | Comments : 0 | Hits : 1247

Posted Date : 29-Oct-2013 , 11:56:26 am | Posted By Vimmi

1. Login to : https://www.tdscpc.gov.in/en/deductor-home.html 2. Click on Register New User and you will be asked to provide basic details such as your PAN Date of Birth Last, Middle and First Name and would also be required to further validate details of either tax deducted (option 1...

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Category : Income Tax | Comments : 0 | Hits : 773

Posted Date : 18-Oct-2013 , 02:37:30 pm | Posted By RAHUL SATIJA

Loans & Advances by Closely Held Company Deemed as Dividend – Section 2(22)(e)   “Dividend” includes‑   Any payment by a closely held company (i.e. Private Limited Company) of any sum by way of advance or loan to:   A.  a shareholder b...

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Category : Income Tax | Comments : 0 | Hits : 398

Posted Date : 30-Aug-2013 , 10:26:55 pm | Posted By Lokesh Sethia

Top CA Firms in Delhi for articleship 2013 1. PWC Delhi NCR PricewaterhouseCoopers Pvt Ltd Building 10, Tower C DLF Cyber City Gurgaon, Haryana 122002 India Telephone: [91] (124) 330 6000 Telecopier: [91] (124) 330 6999 Delhi NCR Lovelock & Lewes/Price Waterhouse/Dalal & Shah Building 8, ...

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Category : Income Tax | Comments : 0 | Hits : 7969

Posted Date : 26-Aug-2013 , 04:37:15 pm | Posted By Keshav Kumar KC

KEY POINTS IN CREATION OF HUF AND FORMAT OF DEED FOR CREATION OF HUF 1. Under the Income Tax Act, an HUF is a separate entity for the purpose of income tax return. 2. The same tax slabs are applicable to HUF as to individual assessee. 3. You can not transfer your own assets/money into HUF. 4...

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Category : Income Tax | Comments : 1 | Hits : 1316

Posted Date : 23-Aug-2013 , 01:12:16 pm | Posted By CA GOURAV MURARKA

TDS under income tax is main source of tax collection by the Government. However many times the tax Deductors ,after deducting TDS from specified payments, are deliberately not depositing the taxes so deducted in Government account and continue to deploy the funds so retained for business purposes o...

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Category : Income Tax | Comments : 0 | Hits : 1036

Posted Date : 18-Aug-2013 , 12:51:25 am | Posted By Vinay Sharma

It is said that the only sure things are death and taxes, but even death doesn’t save a person from having to pay taxes. Taxpayers are required to file an income tax return as per the law for any year in which a filing requirement exists.   Return filing for all assesses is necessar...

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Category : Income Tax | Comments : 0 | Hits : 2902

Posted Date : 16-Aug-2013 , 02:00:23 pm | Posted By Vinay Sharma

The HUF concept is not new in India, and is one of the best ways to save tax. Any married man from the Hindu, Jain, Sikh, or Buddhist community can form an HUF, and will act as the “Karta” or the head of this family. According to Indian law, an HUF will be considered as a separate entity...

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Category : Income Tax | Comments : 1 | Hits : 1689

Posted Date : 16-Aug-2013 , 01:54:24 pm | Posted By Vinay Sharma

“Bhaag Milkha Bhaag” a successful biopic film of the year has taught many things to the viewers. We need to give some time and thought to understand inspiration, motivation and messages movie is conveying to its audience. After watching this movie, I jotted down my thoughts to frame this...

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Category : Income Tax | Comments : 9 | Hits : 2261

Posted Date : 14-Aug-2013 , 01:59:48 pm | Posted By Vinay Sharma

The permanent account number (PAN) has to be quoted in the income tax returns and for various financial transactions, such as investments, and purchase/sale of property. As such it should be updated at all times. In case of an error in the photo or signature mismatch, the holder must ensure that a n...

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Category : Income Tax | Comments : 0 | Hits : 1637

Posted Date : 10-Aug-2013 , 12:18:40 pm | Posted By Vinay Sharma

know All About Provident Funds     Under Income Tax Act, 1961, contribution by employer and employee to the provident fund account enjoys certain tax benefits and some are taxable as well.   Provident Funds provides a compulsory contribution for the future of an employee aft...

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Category : Income Tax | Comments : 0 | Hits : 361

Posted Date : 08-Aug-2013 , 12:13:29 pm | Posted By Vinay Sharma

At the time of entering into certain specified transactions, PAN Card No. is mandatorily required to be submitted. In case a person does not have a PAN Card No., he can submit a declaration in Form 60/Form 61.   Transactions where PAN No is mandatorily required to be furnished   As per...

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Category : Income Tax | Comments : 1 | Hits : 840

Posted Date : 07-Aug-2013 , 11:49:31 am | Posted By Vinay Sharma

List of Cases / Returns Which will be Compulsorily Scrutinized by Income Tax   The following categories of cases/returns shall be compulsorily scrutinized:— (a)   Cases where value of international transaction as defined u/s 92B of IT Act exceeds Rs. 15 crore...

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Category : Income Tax | Comments : 0 | Hits : 803

Posted Date : 05-Aug-2013 , 01:24:38 pm | Posted By Vinay Sharma

A lot of people miss the deadline every year due to lack of time or plain laziness. Did you miss it too? In case you have, do not worry, you can still file a belated return. As a tax payer, you are likely to fall under one of these four categories. The associated rules and implications are outlined ...

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Category : Income Tax | Comments : 2 | Hits : 1743

Posted Date : 04-Aug-2013 , 07:44:15 pm | Posted By Vinay Sharma

Every person carrying on the Legal, Medical, Engineering, Accountancy or Interior Decoration or any other profession as notified by CENTRAL BOARD OF DIRECT TAXES (CBDT) are required to maintain such books of accounts & other documents as may enable the Assessing Officer to compute Assessee&rsquo...

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Category : Income Tax | Comments : 0 | Hits : 1922

Posted Date : 04-Aug-2013 , 02:43:12 am | Posted By Vinay Sharma

All Details About Tax Credit Of Rs.2,000/- You May Need. Tax credit of Rs 2,000 for persons with income up to Rs 5 lakh As per the existing slabs, tax on income from 2 lakh to 5 lakh is at 10 per cent, up to Rs 10 lakh at 20 per cent and above 10 lakh at 30 per cent. From Financial year 2...

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Category : Income Tax | Comments : 0 | Hits : 303

Posted Date : 01-Aug-2013 , 04:25:58 pm | Posted By CA GOURAV MURARKA

Form 15G/H is a type of declaration to be filed by an individual/a person not being a company or the firm in order to receive certain payments Like dividends, interest on securities, interest other than interest on securities, national saving schemes, interest on units without deduction of tax at so...

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Category : Income Tax | Comments : 1 | Hits : 1707

Posted Date : 31-Jul-2013 , 12:32:39 pm | Posted By Vinay Sharma

How to Get Your Pending Income Tax Refund   Delays in income tax refunds, even after the stipulated number of months, are faced by many tax payers. Running from pillar to post at the income tax office, having to deal with impolite income tax officials become a part of the ordeal. At such time...

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Category : Income Tax | Comments : 0 | Hits : 1125

Posted Date : 31-Jul-2013 , 11:55:23 am | Posted By Vinay Sharma

Little-known tax deductions you might have missed while filing returns   Paying more tax than is due is bad enough. It's worse if you don't even know you have overpaid and are eligible for a refund. Many youngsters are not conversant with tax rules and fail to fully utilise the deductions ava...

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Category : Income Tax | Comments : 0 | Hits : 875

Posted Date : 30-Jul-2013 , 12:54:36 pm | Posted By Vinay Sharma

It is very important to verify certain details before you finally sit down to prepare the returns. There are certain things which you should do before the due date even if you are not filling your returns this July.   Verify the following documents:   Form 16    Have a clos...

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Category : Income Tax | Comments : 0 | Hits : 1277