Posted Date : 24-Jul-2012 , 02:11:21 pm | Posted By Vikash Kumar Jha

Tax treatment of Provident Fund?EPF SPF PPF URPF Both the employer and employee contribute towards Provident Fund. The contribution made by employees is out of their own income and therefore no question of taxation arises as the entire amount has already been taxed. The contribution by the em...

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Category : Income Tax | Comments : 1 | Hits : 858

Posted Date : 24-Jul-2012 , 12:23:51 pm | Posted By CA.NAVEEN K R

  Dear Friends,   Let me introduce myself first, my name is Naveen K R.I am a Qualified Chartered Accountant (CA) and Company Secretary (CS). Thought of writing a small article on “Tax Planning” which would help all the members to plan there Tax in legal and legi...

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Category : Income Tax | Comments : 0 | Hits : 973

Posted Date : 23-Jul-2012 , 03:06:24 pm | Posted By Surendra Kumar Dash

                                                 Mandator...

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Category : Income Tax | Comments : 0 | Hits : 634

Posted Date : 21-Jul-2012 , 02:04:27 pm | Posted By Vikash Kumar Jha

Most important questions related  to filling tax returns and how costly can the delay in filling tax returns be?   Question:-First, what are the due dates? Answer:- Assessees having income from salary have to file return of income before July 31 of the assessment year. Thi...

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Category : Income Tax | Comments : 0 | Hits : 513

Posted Date : 20-Jul-2012 , 01:41:06 pm | Posted By Vikash Kumar Jha

House Property Income Tax Return Filling 10 Points:   Last Night, Mr. R K Sharma has asked very interesting 10 queries about how to treat House property Income in Income Tax return, we have tried to reply these queries here under and sharing with you as these may beneficial for all. ...

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Category : Income Tax | Comments : 0 | Hits : 1092

Posted Date : 20-Jul-2012 , 09:00:23 am | Posted By Deepak Tanwar

1) The Income Tax Act has placed an obligation on Taxpayer to file the Income Tax Return if the Gross Total Income of Taxpayer is more than maximum exempt limit, even if Taxpayer has no tax due. 2) As per Income Tax Act, for AY12-13, the maximum exemption limits are: Rs. 1.80 lacs for...

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Category : Income Tax | Comments : 1 | Hits : 1019

Posted Date : 19-Jul-2012 , 02:30:55 pm | Posted By Vikash Kumar Jha

How to e-file Income Tax Return -:  10 Steps Guide: 31st July is approaching fast which is the last date for filing of Income Tax Return for the Assesses who are not required to get there books of account audited under the provisions of Income Tax Act, 1961.  CBDT has recently vide&...

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Category : Income Tax | Comments : 0 | Hits : 938

Posted Date : 17-Jul-2012 , 02:48:23 pm | Posted By Surendra Kumar Dash

  ASSESSMENT OF AOP / BOI (Sec. 86)     The assessment of the members of AOP or BOI depends on whether the AOP or BOI is chargeable to tax at the maximum marginal rate or at slab rate or is not chargeable to tax at all.   Tax-treatment in the three case...

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Category : Income Tax | Comments : 0 | Hits : 1138

Posted Date : 14-Jul-2012 , 03:05:20 am | Posted By SHIKHA SONI

  1. Be Yourself It's great to watch other successful speakers, to see what they do and how they do it. To be a great speaker in your own right requires you to develop your own style, to speak using your own voice. Be yourself when you speak and you can't help but be successf...

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

Posted Date : 11-Jul-2012 , 02:51:21 pm | Posted By Deepak Tanwar

    SECTION Nature of Failure/Default Authority who can levy penalty Quantum of Penalty SECTION 158BFA(2) ...

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Category : Income Tax | Comments : 0 | Hits : 1012

Posted Date : 10-Jul-2012 , 09:09:59 am | Posted By Deepak Tanwar

Dear All,   Step 1: Make sure you have received an intimation under section 143 (1) from CPC Bangalore for the E-returns filed by you for AY 2009-10 or later.   Step 2: Carefully examine the intimation to see if the computation by CPC i...

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Category : Income Tax | Comments : 0 | Hits : 962

Posted Date : 09-Jul-2012 , 12:17:14 pm | Posted By Deepak Tanwar

Finance Act 2012 has inserted a new section 80 CCG, This will be applicable for the A.Y. 2013-14.   Following conditions must be fulfilled to claim this deduction:   i. The gross total income of the assessee for the relevant Assessment Year should not exceed Rs. 10,00,00...

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Category : Income Tax | Comments : 2 | Hits : 1221

Posted Date : 07-Jul-2012 , 09:50:04 am | Posted By Deepak Tanwar

Dear All,   For most  of the people  ‘tax savings’ brings to mind LIC, PPF, NSC, and equity-linked savings scheme, among others, that qualify for tax deduction under Section 80 C of the Income-Tax Act. An individual can claim tax deductions of up to Rs 1 lakh un...

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Category : Income Tax | Comments : 0 | Hits : 1144

Posted Date : 06-Jul-2012 , 03:22:48 pm | Posted By Vikash Kumar Jha

TAXATION OF CERTAIN TRANSACTIONS WITHOUT CONSIDERATION OR FOR INADEQUATE CONSIDERATION [Clauses 3, 20, 21, 33 OF THE BILL]            Under the existing provisions of section 56(2)(vii), any sum of money or any proper...

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Category : Income Tax | Comments : 0 | Hits : 1522

Posted Date : 06-Jul-2012 , 01:21:18 pm | Posted By Surendra Kumar Dash

Far Reaching Amendments to Transfer Pricing Provisions The following amendments are proposed to the Transfer Pricing provisions, which would have far reaching implications, not only on cross-border transactions between Associated Enterprises, but also on large value transactions between d...

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Category : Income Tax | Comments : 0 | Hits : 603

Posted Date : 06-Jul-2012 , 01:20:01 pm | Posted By Surendra Kumar Dash

Expansion of definition of ‘related parties’ for domestic transactions Section 40A (2) (a) provides for disallowance of expenditure/part of expenditure payable/paid to related party‘in domestic transactions, considered by the as excess or unreasonable having regard to the f...

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Category : Income Tax | Comments : 0 | Hits : 926

Posted Date : 05-Jul-2012 , 09:20:57 am | Posted By Deepak Tanwar

How to Know the Name of Person we are having PAN Number?  How to Verify PAN for Free? How to know of person as on his PAN Card? As we all know Income Tax Act has provided that TDS to be deducted @ 20% if a person do not provide his PAN. Sometimes person provides his P...

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Category : Income Tax | Comments : 2 | Hits : 5128

Posted Date : 03-Jul-2012 , 03:24:38 pm | Posted By Deepak Tanwar

Gratuity:- Gratuity’ is a retirement benefit. Gratuity Act, 1972 act envisages in providing retirement benefit to the workman who have rendered long and unblemished service to the employer. Gratuity is a reward for long and meritorious servi...

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Category : Income Tax | Comments : 0 | Hits : 1183

Posted Date : 03-Jul-2012 , 09:37:32 am | Posted By Deepak Tanwar

TDS Rates / Chart Under Income Tax Act, 1961 for Financial Year 2012-12/ Assessment Year 2013-14 on Salary(Section 192) ,  Interest on Specified & Other Securities (Section 193), Deemed Dividend & Other Dividend , Interest other than interest on security, Winning from Lotteries, Winn...

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Category : Income Tax | Comments : 0 | Hits : 3167

Posted Date : 29-Jun-2012 , 06:21:02 pm | Posted By SHIKHA SONI

  ...It s not over yet...Brush up your communication skills to stand different from the general run of the mill stuff...Here a few tips how to do it on your own :- 1. Improve pronunciation and diction ~ Focus on elongating your vowel sounds. This will also automatically slo...

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Category : Income Tax | Comments : 1 | Hits : 460