Filter Posts

Reset
Found 649 Results

Taxation of collaboration agreements of properties

Ques: How does the taxation of collaboration agreements work? Ans: When the owner sells the land right to the builder, he incurs capital gain on such sale pursuant to the collaboration agreement....

Read More
Posted Under: Income Tax |

Increased threshold for tax litigation – A relief to taxpayer and to overburdened judiciary

A big question before the Government – How to reduce the overburdened judiciary. A tax issue may take 5 to 7 years to settle at ITAT level and another 5 to 7 years, if matter moves to courts....

Read More
Posted Under: Income Tax |

Calculation of Marginal Relief in case of Individuals

Marginal Relief given to the assessee whose total income exceeds Rs. 50,00,000/- or Rs. 1,00,00,000/- as the case may be. So, a minor increase in income which exceed the specified limit and increase the tax liability to a huge extent. Relief: Marginal relief is provided to ensure that the additional income tax payable including surcharge ...

Read More
Posted Under: Income Tax |

Most Important task – Filling of Income Tax Return

Filling of Income Tax return on due date is one of the important task of each individual falling criteria in filling of income tax return. This is duty of every citizen as responsible citizen to file return within due date, as Direct tax is one of important source of revenue collection of Govt, base on this govt get data on collecti...

Read More
Posted Under: Income Tax |

Section 234F Fee for delayed Furnishing of Income Tax Return– When Leviable & When Not

According to the Section 234F of the Income Tax Act a fee for non filing (or late filing) of the Income Tax Return within due date prescribed under section 139(1) of the Act is leviable. The same is leviable in respect of the I T returns for the Assessment Year 2018-19 and onwards....

Read More
Posted Under: Income Tax |

Clubbing Provisions of Income of Minor

Nowadays, it is observed that a lot of young talented kids are being hired in different fields like acting, singing, choreographing, etc., and they are paid handsome amount for their skill and talent. The question arises is whether the income earned by these children are taxable and if yes, in whose hands, will it be taxable....

Read More
Posted Under: Income Tax | ,

Why & for whom Income Tax return Filing before 31st July is mandatory?

Arjuna (Fictional Character): Krishna, 31st July 2014 is near and many taxpayers are hurrying up for filing income tax returns. What are the points to be considered before filing income tax returns?...

Read More
Posted Under: Income Tax | ,

Who is required to file ITR

Based on my conversation with my friends who are salaried I gather the impression that majority of the employees are under the impression that they are not required to file any ITR if appropriate income tax has been deducted from their salaries. Most of them take deduction of tax at source as filing of the ITR by the employer....

Read More
Posted Under: Income Tax |

Interest on Tax Payable u/s 234A, 234B, 234C

Discipline in Income tax return is very important. Failing which, you will be liable to file additional penalties on the amount due. However, there are plenty of issues that can result in failure of tax deposits. These issues can be related to individuals or companies. For companies, it can occur due to failure to deposit advance tax or p...

Read More
Posted Under: Income Tax |

TDS – Rate Chart, Provisions, Penalty, Return Due Date

Tax Deducted at Source (TDS) is one of the modes of collecting income tax in India at the very source of income, governed under the Indian Income Tax Act of 1961. It is controlled by the Central Board for Direct Taxes (CBDT) and is part of the Department of Revenue in-charge of Indian Revenue Service (IRS)....

Read More
Posted Under: Income Tax | ,
Page 1 of 6512345...102030...Last »