Posted Date : 27-Jun-2012 , 04:45:33 pm | Posted By CA. Anup Sharma

INDIAN MICROFINANCE IN PERIL                                             ...

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Category : Income Tax | Comments : 0 | Hits : 289

Posted Date : 22-Jun-2012 , 01:10:47 pm | Posted By Surendra Kumar Dash

  Businesses have been grown over the period of time due to general growth of the economy and varied other reasons. But at the same time various numbers of business and service providers, irrespective of their area of operations, earni...

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Category : Income Tax | Comments : 0 | Hits : 987

Posted Date : 17-Jun-2012 , 08:18:17 pm | Posted By SHIKHA SONI

For most  of the people  ‘tax savings’ brings to mind life insurance, 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 la...

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Category : Income Tax | Comments : 3 | Hits : 1894

Posted Date : 14-Jun-2012 , 09:01:18 am | Posted By Deepak Tanwar

Dear All, Procedure to pretrive forget assword of e-filing   1. Click on forget password Link  – Link   2. Enter your PAN on Screen which appears after above click and Press OK.   3.  Please ...

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Category : Income Tax | Comments : 3 | Hits : 1167

Posted Date : 12-Jun-2012 , 09:25:35 am | Posted By Deepak Tanwar

Procedure to request for Form 16/16A   1. Login to TAN Registration Account with user id, password and TAN.   2. Request for Form 16A can be made for the TAN logged in only. One TAN cannot request for Form 16A of another TAN. &n...

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Category : Income Tax | Comments : 0 | Hits : 1646

Posted Date : 08-Jun-2012 , 09:04:47 am | Posted By Deepak Tanwar

Procedure for Download of File Merge Utility (in case file is split) and Merging Split Quarterly Consolidated TDS/TCS statement A.      Procedure for Download of File Merging Utility 1)      Download “File Merge Utility” from T...

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Category : Income Tax | Comments : 0 | Hits : 700

Posted Date : 07-Jun-2012 , 10:11:52 pm | Posted By Deepak Tanwar

While applying DIN of an applicant, following Documents are required to be attached with the DIN 1 Form as Proof of Identity and as Proof of Residence (As per DIN Help Form): Proof of Identity of applicant In case of Indian nationals, Income-tax PAN is a mandatory requirement for proof of...

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Category : Income Tax | Comments : 0 | Hits : 2283

Posted Date : 05-Jun-2012 , 11:46:25 pm | Posted By CS Shilpi Bhardwaj

Preparation of Cash Flow Statement Cash flow statement. As the name itself indicates the statement which only deals with inflow and outflow of cash (and cash equivalents) during the accounting year. Our work is to classify those inflows and outflows into three activities namely operating, i...

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Category : Income Tax | Comments : 1 | Hits : 708

Posted Date : 05-Jun-2012 , 08:55:01 pm | Posted By Vikash Kumar Jha

  Relatives from whom Gift is permissible under Income Tax Act   Father (Papa or Pitaji)                       &nbs...

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Category : Income Tax | Comments : 0 | Hits : 1029

Posted Date : 05-Jun-2012 , 08:51:24 pm | Posted By Vikash Kumar Jha

In this article an attempt has been made to make a analysis of provisions under different laws relating to Related Party Transactions.  An awareness of various provisions is very much required so as to take adequate care while entering into related party transaction and di...

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Category : Income Tax | Comments : 0 | Hits : 691

Posted Date : 23-May-2012 , 01:12:17 pm | Posted By CA Vikas Maheshwari

Section 203 of the Income-tax Act 1961 (“the Act”) read with the Rule 31 of the Income-tax Rules 1962 (“the IT Rules”) requires the deductor to issue certificate of tax deduction at source (TDS) to the deductee. The relevant form for such TDS certificate...

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Category : Income Tax | Comments : 0 | Hits : 1879

Posted Date : 23-May-2012 , 01:08:59 pm | Posted By CA Vikas Maheshwari

What is National Savings Certificate? National Savings Certificate is an Investment alternative developed by Government of India with an intention to induce persons to a saving habit and to develop National Savings. National Savings Certificate is issued through Post Offices; they are the nod...

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Category : Income Tax | Comments : 0 | Hits : 1425

Posted Date : 22-May-2012 , 02:46:20 pm | Posted By CA Vikas Maheshwari

Leave Travel Allowance affects every salaried employee. Here we give you a quick low-down on what to expect. 1. You can get LTA only if you have applied for leave from your company and have actually travelled. However, international travel is not valid. You must have travelled within the cou...

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Category : Income Tax | Comments : 0 | Hits : 629

Posted Date : 10-May-2012 , 05:29:06 pm | Posted By Rishabh Upadhyay

GAAR- General Anti Avoidance Rules   Finance Minister Pranab Mukherjee's clarification on General Anti-Avoidance Rules (GAAR) fired up the markets on Monday, when global indices were deep in the red. A look at why GAAR has caused panic among investors: ...

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Category : Income Tax | Comments : 0 | Hits : 1209

Posted Date : 08-May-2012 , 11:29:45 am | Posted By SUMIT KUMAR MEHARIA

  Speech of the Finance Minister whilst moving the amendments to the  Finance Bill 2012 : The following is the speech delivered by Shri. Pranab Mukerjee, Finance Minister, while moving the amendments to the Finance Bill 2012 on 7th May 2012. Madam Speaker, I presented ...

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Category : Income Tax | Comments : 0 | Hits : 548

Posted Date : 04-May-2012 , 12:54:13 pm | Posted By Vikash Kumar Jha

Salary, Net Salary, Gross Salary, Cost to Company are they same or different. For most people it is plain confusion especially when one gets a new job. The excitement of getting first job is punctured on getting the first pay. It is usually less than what the fresher employee e...

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Category : Income Tax | Comments : 0 | Hits : 1033

Posted Date : 04-May-2012 , 10:48:04 am | Posted By CA Vikas Maheshwari

Under the existing provisions of the Income-tax Act, Minimum Alternate Tax (MAT) and Alternate Minimum Tax (AMT) are levied on companies and limited liability partnerships (LLPs) respectively. However, no such tax is levied on the other form of business organisations such as partnership firms, so...

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Category : Income Tax | Comments : 0 | Hits : 2126

Posted Date : 01-May-2012 , 12:55:49 pm | Posted By Akanksha Handa

A thought provoking note and a reality of life….. Long time ago, there was an Emperor who told his horseman that if he could ride on his horse and cover as much land area as he likes, then the Emperor would give him the area of land he has covered. Sure enough, the horseman quickly...

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Category : Income Tax | Comments : 0 | Hits : 587

Posted Date : 29-Apr-2012 , 04:37:29 pm | Posted By CA Ramesh K Chhajer

  ABOLISHING BENEFIT OF EXEMPTION LIMIT IN CASE OF UNDISCLOSED INOCME As currently provided U/S 68, 69, 69A, 69B, 69C, and 69D, if any undisclosed income is found then the Tax on such income is being calculated as per the Slab Of Income Tax and the benefit of exemption limit is being...

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Category : Income Tax | Comments : 0 | Hits : 482

Posted Date : 24-Apr-2012 , 11:04:13 am | Posted By Rishabh Upadhyay

You will soon get the Form 16 with details of your income and taxes paid from your employer. Then you have a couple of months to file your tax returns. However, the Central Board of Direct Taxes (CBDT) has issued a notification which has made it mandatory for individu...

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Category : Income Tax | Comments : 0 | Hits : 591