Professional Tax - Means income derived from a profession. Tamilnadu Professional Tax law says that a Govt. servant receiving pay from the revenue of the Central or State Govt. This provision clearly says that Govt. running professional undertakin ..
SOME ISSUES PERTAINING TO C FORMS UNDER CST ACT 1956 Under CST Act 1956 there are lot of Forms and declarations which help in saving CST on the interstate transactions. C form is an important and foremost common among dealers registered under CST ..
A DISCUSSION ON SETTLEMENT COMMISSIONINCOME TAX ACT 1961/ DIRECT TAXES CODE BILL 2010 It has been discussed, elaborated over the years the basics of Wanchoo Committee Report and the creation of Income Tax Settlement Settlement Commission. Nevert ..
Goods and Service tax (GST) is the most talked about topic in the field of indirect taxation today in India. Everybody is keenly waiting for the proposed GST draft which will replace the existing system of VAT in India. The central government wants ..
PROCEDURAL PROVISIONS RELATING TO TDS AND FILING OF TDS STATEMENTS UNDER INCOME TAX ACT 1961 T.D.S means the Tax deducted at source. Whenever a person liable to deduct tax of another person under Income Tax Act, deducts tax, the credit of such ta ..
PRESUMPTIVE INCOME SCHEMES FOR SMALL ASSESSEES UNDER INCOME TAX ACT 1961 There are many presumptive income schemes for small businessmen engaged in civil construction, transport business, retailers etc. A person covered under these schemes can ..
FILING INCOME TAX RETURN AFTER DUE DATE The due date for filing income tax return for corporate aseessees and other aseessees who are required to get their accounts audited under Income Tax Act 1961 or under any other law for the time being i ..
A big Flaw and Mistake in The Punjab VAT Act 2005 There are many sections under the Punjab VAT Act where the word Designated officers is used. Many powers under the Punjab VAT Act 2005 like of assessments, of levying penalties etc have been co ..
TAXABILITY OF FEES FOR TECHNICAL SERVICES There was a controversy relating taxability of fees paid to Non Residents for technical services in India, Hon’ble Supreme court in Ishikawajma case held that under Section 9(1) (vii) of the Income T ..
Understanding the provisions relating to Transfer Pricing under Income Tax Act 1961 With the advent of MNCs(Multi National Concerns) a trend has also been adopted by the MNCs to structure their investments and business strategy in such a way that pr ..
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