taxman - Page 2

Confusion in the AIR

Worryingly for taxpayers, there is confusion in the air about AIR (annual information return) ever since the taxman issued an FAQ relating to ITR (income-tax return) forms. FAQs are supposed to clarify things but what is causing puzzlement to assessees is the `limit' relating to financial transactions for AIR, specified in one of the `fre...

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Posted Under: Income Tax |

Intersting one- Avoiding double taxation overseas

Mr. S. Mohan Vs Director of Income Tax - International Taxation (Authority of Advance Rulings New Delhi)

Assessee tried to take the benefit of the AAR of British Gas (I) Pvt Ltd….but seem to have failed..!!!! ! Income Tax - Assessee posted abroad for more than 182 days on deputation - DTAA - Income not taxed by the contracting state - Return filed and tax paid in India - Later contended that since he was non-resident during the FY, his inc...

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Law on borrowed words

"It is true that the Division Bench of the High Court has borrowed extensively from the orders of the Tribunal and the Commissioner and passed them off as if they were themselves the author's," noted the apex court. "We feel that quoting from an order of some authority particularly a specialised one cannot per se be faulted as this proced...

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Posted Under: Income Tax |

Tribunal's power to grant stay of demand – A Study

Section 254 of the Income-Tax Act, 1961 relates to appeals before the Income Tax Appellate Tribunal (ITAT) by assessees and the tax department. It also deals with the law relating to grant of stay of demand on assessees' petitions. This section was amended w.e.f. June 1, 2001, to provide that where in an appeal filed by the assessee, the ...

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Posted Under: Income Tax |

IT – Inefficient Taxman !

5 - 2007.

Hope all of you are familiar with efiling of ITR - 1, 2, 3, 4, &5. I have a message for you.... IT people (You may call them Income Tax People or Inefficient Taxman) are not very clear about Circular No. 5 - 2007. I find it very difficult to convince them that their department has enabled efiling and it is also sufficient to submit a veri...

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Posted Under: Income Tax |

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