International Taxation What is International Taxation? International taxation is the study or determination of tax on a person or business subject to the tax laws of different countries or the international aspects of an individual country's tax… Read More
INCOME TAX RETURN FORMS ITR 1, 2 AND 4S SIMPLIFIED FOR CONVENIENCE OF THE TAX PAYERS A New Form ITR 2A Proposed which can be Filed by an Individual or… Read More
HIGHLIGHT ON TAX UPDATE Income Tax Act SECTION 9 Income - Deemed To Accrue Or Arise In India Royalty: Where at time of making the assessment, assessee disclosed all… Read More
INCOME CAN BE DETERMINED ON ESTIMATION BASIS ONLY AFTER REJECTION OF BOOKS OF ACCOUNT WITH A VALID REASON Section 145 of the Income-tax Act, 1961 - Method of accounting -… Read More
Special Unit of IT Dept. to Focus on Undisclosed Assets Overseas The government has established a specialized unit of the Income-tax Department to facilitate it to commence a focused inquiry… Read More
APPLICATIONS FOR CONDONATION OF DELAY IN FILING RETURNS CLAIMING REFUND AND RETURNS CARRY FORWARD OF LOSS AND SET-OFF Comparison of New guidelines with Existing/earlier GuidelinesNew: Circular 09/2015 dated 9-6-2015VSEarlier: Instructions 13/2006… Read More
OVERVIEW OF NEW RETURN FORMS FOR ASSESSMENT YEAR 2015-16 GOVT. NOTIFIES SIMPLIFIED ITR FORMS; NOW TAXPAYERS EARNING EXEMPT INCOME ABOVE RS 5,000 CAN FILE ITR-1 AND 4S Introduction to New… Read More
NOTIFICATIONS UNDER SECTION 462 OF THE COMPANIES ACT, 2013 The Ministry of Corporate Affairs, Government of India issued the final notifications under Section 462 of the Companies Act, 2013 (Act),… Read More
GOLD MOBILIZATION SCHEME (DRAFT) Seeking to mobilize idle gold worth up to Rs 60 lakhs crore held by households and institutions, government yesterday proposed a new scheme offering tax-free interest on depositing… Read More
FRAUD REPORTING AS PER COMPANIES ACT 2013 A new focus area for members during the current audit season would be Frauds. Section 143(12) of the Companies Act, 1956 outlines the… Read More