income tax act 1961 - Page 5

Simplified Version of Tax Planning with respect to Managerial decisions

The survival of a organization depends up on the efficiency of its management. Whatever decisions taken by the management directly or indirectly affects all activities of an Organization. Therefore, through this article, wants to simplify implications of Income Tax provisions on managerial decisions The general considerations which area a...

Read More
Posted Under: Income Tax |

SC: Performance of Charitable Activity not Compulsory for Registration of New Trust u/s 12AA of IT Act

Whether a newly formed trust is entitled for registration under Section 12AA of the IT Act, 1961 even if any activity has not been undertaken as yet?...

Read More
Posted Under: Income Tax |

Tonnage Tax Scheme – A simplified approach | Sec 115V to Sec 115VZC

Qualifying Company - Section 115 VC: (a) it is a Indian company; (b) the place of effective management of the company is in India; (c) its own at least one qualifying ship; and (d) the main object of the company is to carry on the business of operating ships....

Read More
Posted Under: Income Tax |

A radical approach towards Indian Taxation System

Being a Chartered Accountant, many people (especially people from business fraternity) usually asks me how to save tax. But I always ask them to focus on increasing their revenues and consequently their income net of taxes....

Read More
Posted Under: Income Tax |

Liability of directors of Private Company in liquidation for tax dues

LIABILITY OF DIRECTORS OF PRIVATE COMPANY IN LIQUIDATION FOR PAYMENT OF TAX DUES Section 179 of Income Tax Act, 1961, provides that, where any tax due from a private company in respect of any income of any previous year or from any other company in respect of any other income of any previous year during […]...

Read More
Posted Under: Income Tax |

Income Tax Updates for the Month of January 2020

NEWS DIRECT TAX 1. CBDT prescribes ‘Other Electronics Modes’ for the purpose of electronic payments & receipts. [Ref: NOTIFICATION NO. 8/2020 [G.S.R. 56(E)/ F.NO.370142/14/2019-TPL], DATED 29-1-2020] 2. CBDT notifies ‘Institute of Pesticide Formulation Technology’ for the purpose of sec. 35 deduction. [Ref: NOTIFICATION NO. S...

Read More
Posted Under: Income Tax |

20 imperative GST judgments for the year 2020

As GST roll out completed 2.5 years, we have seen everything in this period-transitioning from existing regime to new era, understanding the provisions of GST, analyzing what impact does it had rather still having on business, making GST compliances from return filing to reconciliations and as soon as one tax period completed, audit requi...

Read More
Posted Under: Income Tax |

31 March 2020- An Important date for the Assessee

In India, Financial Year begins with 1st of April and end on 31st March every year. Hence, 31st March is the date by which important taxation related obligations should be fulfilled. Following are the things which shall be taken care of as the financial year is ending soon. There are mainly two types of taxation […]...

Read More
Posted Under: Income Tax |

Impact of Finance (No. 2) Act, 2019 on Income Tax Act, 1961

The Union Finance Minister of India, Nirmala Sitharaman presented the Finance (No. 2) Bill, 2019 in the Lok Sabha proposing several amendments and insertions in the Income Tax Act, 1961. The Bill received the President’s assent and has come into force from 1st September, 2019. This amendment provides for some major changes in the ongoin...

Read More
Posted Under: Income Tax |

Section 144C and its Offshoot Amendment of section 246A!

i) While re-adjudicating on the directions of the ITAT, the DRP has exceeded the directions. ii) In framing the final assessment order, the Assessing Officer has put the assessee in a more worse position than it was before filing appeal....

Read More
Posted Under: Income Tax |

Browse All Categories

CA, CS, CMA (4,698)
Company Law (5,998)
Custom Duty (7,745)
DGFT (4,225)
Excise Duty (4,361)
Fema / RBI (4,188)
Finance (4,391)
Income Tax (33,081)
SEBI (3,459)
Service Tax (3,553)

Search Posts by Date

June 2020
M T W T F S S
1234567
891011121314
15161718192021
22232425262728
2930