News & FAQs

Don’t evade taxes because taxes Authorities are watching you!!

News & FAQs | By ALOK PATNIA | Jan 26, 2011

Annual Information Return (“the Return”) is a return introduced with an intention to cover the specified financial transactio...

Taxability of your income depends on status of residency

News & FAQs | By ALOK PATNIA | Jan 26, 2011

Residential Status is the basis of Individual taxability in India. The residential status is determined based on the physical stay of an ...

Taxability of income arising from shares and other listed securities

News & FAQs | By ALOK PATNIA | Jan 25, 2011

If an individual derives any income from the transfer of a short term (held for less than 12 months) assets being an equity share or unit...

DTC – Impact on taxability for salaried individuals – EEE vis-à-vis EET

News & FAQs | By ALOK PATNIA | Jan 19, 2011

The Government of India is keen on scrapping the age old Income Tax Act, 1961, and implementing a new Direct Tax Code. Direct Tax Bill ha...

FAQ’s on Income Tax Return Filing

For the financial 01.04.2009 to 31.03.2010, the last date of filing of income tax return was 31st July, 2010. However the return of incom...

Common Myths of Online Income Tax filing

Rakesh, an IT professional met his friend Sumedh over a casual Sunday lunch.  Sumedh is very stressed these days and told Rakesh that, â...

IT services sector to touch $70 bn this year: Som Mittal

News & FAQs | By ALOK PATNIA | Dec 6, 2010

Chennai: The information technology and services sector to reach around $70 billion (around Rs 3.2 lakh crore) by the end of current fisc...

Income Tax Assessment of Mr. Agarwal

News & FAQs | By ALOK PATNIA | Dec 5, 2010

Mr. Agarwal, a medium size wholesale trader from Meerut, is some what worried and is not able to concentrate fully on his business from t...

Marriage throws marvellous tax planning opportunity

News & FAQs | By ALOK PATNIA | Dec 5, 2010

Raju MR is a software engineer working in a technology company in Bangalore City. He is very excited these days as he is getting married ...

Income Tax Returns“ Why so imperative????????????”

News & FAQs | By ALOK PATNIA | Dec 5, 2010

It is common perception among the people is that it’s illogical to disclose complete income details and pay taxes. But, its high ti...

Don’t Worry Anna Uncle, Cheer up!

News & FAQs | By ALOK PATNIA | Dec 2, 2010

Anna Uncle, a retired clerk, is fully dependent on his past savings and pension income for his old age expenses and living. Anna Uncle is...

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