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Direct Taxes (including International Taxation)
Disallowance Applies To Partner’s Share of Profits but Not To Depreciation U/S 14A
Direct Taxes (including International Taxation) | By ALOK PATNIA | Jun 14, 2012
The Special Bench had to consider two issues: (i) given that a firm pays tax on its profits, whether the share of profit received by a pa...
New ITR Forms will include Foreign Assets and Accounts
Direct Taxes (including International Taxation) | By ALOK PATNIA | Jun 14, 2012
A new column has been inserted in the new ITR Forms by the Government for FY 2012- 13 in order to curb the black money held by Indians in...
Filing of Income Tax Returns by NRIs in India
Direct Taxes (including International Taxation) | By ALOK PATNIA | Jun 13, 2012
Income tax return is mandatorily required to be filed by every Individual, Companies, Partnership firms and other associations. Similarly...
Different ITR Forms for Filing Returns for F.Y 2011-12
Direct Taxes (including International Taxation) | By ALOK PATNIA | Jun 12, 2012
For filing of Income Tax Returns for Financial Year 2011-12 various forms have been released by the IT Department. Different types of ITR...
Composite Rent and Its Taxability in IT Act
Direct Taxes (including International Taxation) | By ALOK PATNIA | Jun 11, 2012
When the total amount i.e. rent of the building along with the hire charges for other assets such as furniture or service charges for cer...
Subsidiary Created for Indian business is a PE of the Foreign Parent
Direct Taxes (including International Taxation) | By ALOK PATNIA | Jun 9, 2012
In Re Aramex International Logistics Pvt Ltd (AAR) As reported by ITAT.ORG: The applicant, a Singapore company, entered into an agreement...
Importance of Filing Income Tax Return
Direct Taxes (including International Taxation) | By ALOK PATNIA | Jun 9, 2012
Return of income is nothing but a proof of income earned. Return is merely a form which specifies the details to be filled in by the appl...
MICR Code is mandatory for Tax Refunds
Direct Taxes (including International Taxation) | By ALOK PATNIA | Jun 8, 2012
People are observed to be more cautious towards filing of income tax return on time as they are aware of its importance as well as benefi...
Claim deduction for the Investments even if not declared to the Employer
Direct Taxes (including International Taxation) | By ALOK PATNIA | Jun 8, 2012
The Employer issues Form 16 or the salary certificate to his employees for each of the financial year (April to March). Form 16 or the sa...
Income from sale of export incentive – Sec 80IB
Direct Taxes (including International Taxation) | By ALOK PATNIA | Jun 7, 2012
The High Court has made it clear that income derived from sale of export incentive cannot be argued to be ‘income derived from the ...
Save taxes by investing in NHAI & REC Bonds
Direct Taxes (including International Taxation) | By ALOK PATNIA | Jun 6, 2012
Capital gain is one of the important sources of income for the purpose of computation income tax. Any profit or gain arising from the tra...
Advance Tax for Individual Tax Payers
Direct Taxes (including International Taxation) | By ALOK PATNIA | Jun 5, 2012
Section 208 states that an individual are liable to pay Advance Tax on income earned in current financial year on estimation basis if the...
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