Direct Taxes (including International Taxation) | By ALOK PATNIA | Feb 16, 2011
An NRI is an Indian citizen residing outside India. Person of Indian Origin (PIO) means an individual (not being a citizen of Pakistan or...
Direct Taxes (including International Taxation) | By ALOK PATNIA | Feb 15, 2011
As per the Income-tax Act, 1961 the following income of individual can be clubbed with the spouse’s income (a)         Any in...
Direct Taxes (including International Taxation) | By ALOK PATNIA | Feb 15, 2011
Sweat Equity Shares means shares issued by a company to its employees or directors at a discount or for consideration other than cash for...
Direct Taxes (including International Taxation) | By ALOK PATNIA | Feb 14, 2011
The filing of income tax return is a legal obligation for every person whose total income during the previous year exceeds the maximum am...
Direct Taxes (including International Taxation) | By ALOK PATNIA | Feb 12, 2011
Perquisites are the non-monetary benefit provided by the employer to his employees in addition to the salary. It plays a vital role in th...
Direct Taxes (including International Taxation) | By ALOK PATNIA | Feb 11, 2011
Online tax filing or online return filing aka online income tax filing was enabled by the income tax department in the year 2006 and sinc...
Direct Taxes (including International Taxation) | By ALOK PATNIA | Feb 11, 2011
Perquisites are the amenities provided by the employer to his employees in addition to their salary. The way salary is structured plays v...
Direct Taxes (including International Taxation) | By ALOK PATNIA | Feb 10, 2011
For a non-resident individual, any income which is received or deemed to be received OR which accrues or deemed to be accrue in India sha...
Direct Taxes (including International Taxation) | By ALOK PATNIA | Feb 10, 2011
After furnishing the return, if an assessee discovers any omission or any wrong statement in the return filed, he may file a revised retu...
Direct Taxes (including International Taxation) | By ALOK PATNIA | Feb 10, 2011
The income tax return has gained immense importance in the last decade or so in the country. The awareness of the income tax return is mo...
Direct Taxes (including International Taxation) | By ALOK PATNIA | Feb 9, 2011
If you are an Indian resident working overseas or having income outside India, then your global income will be taxable in India. Â Income...
Direct Taxes (including International Taxation) | By ALOK PATNIA | Feb 8, 2011
Form 26AS is a consolidated tax statement issued by the Income Tax department with respect to the details of total tax credited in the na...