Direct Taxes (including International Taxation) | By ALOK PATNIA | May 31, 2011
While we all do tax planning and have become well versed with many provisions of the I-T Act that are relevant to us, there are many beli...
Direct Taxes (including International Taxation) | By ALOK PATNIA | May 31, 2011
There is a tendency among the tax-payers of the higher tax brackets to divert a part of their income to the hands of their relatives, in ...
Direct Taxes (including International Taxation) | By ALOK PATNIA | May 31, 2011
A number of salaried consumers take a home loan to acquire a residential property, but do not stay in that property for various reasons. ...
Direct Taxes (including International Taxation) | By ALOK PATNIA | May 31, 2011
There is a perception among several individuals that having paid taxes via TDS, filing of returns is not important because after all, the...
Direct Taxes (including International Taxation) | By ALOK PATNIA | May 30, 2011
The value of benefit to the employee resulting from the use or transfer of any movable asset by the employee (or any member of his househ...
Direct Taxes (including International Taxation) | By ALOK PATNIA | May 30, 2011
Under Direct Tax Laws, tax authorities have been given powers to make tax payers comply with their tax obligations and to investigate tho...
Direct Taxes (including International Taxation) | By ALOK PATNIA | May 30, 2011
Rule 3 of the Income Tax Rules prescribes the method of valuation of perquisites taxable in the hands of the employee. Some of these perq...
Direct Taxes (including International Taxation) | By ALOK PATNIA | May 30, 2011
After the abolition of Fringe Benefit Tax from the financial year 2009-2010, many of the perquisites are again taxable in the hands of th...
Direct Taxes (including International Taxation) | By ALOK PATNIA | May 30, 2011
Each year most of the people eagerly wait for the budget proposals to be announced for various reasons. One of the reasons is to know wha...
Direct Taxes (including International Taxation) | By ALOK PATNIA | May 30, 2011
The scope of clubbing the income of minor child has considerably been enlarged with effect from assessment year 1993-1994 by insertion of...
Direct Taxes (including International Taxation) | By ALOK PATNIA | May 30, 2011
Last year the Government has implemented the Sixth Central Pay Commission and in regard to which most of the salaried individuals have re...
Direct Taxes (including International Taxation) | By ALOK PATNIA | May 30, 2011
A lot of confusion persists among the taxpayers about the income required to be clubbed and the method of clubbing. So here are the provi...