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Posted On:  1 year ago


Instructions for SAHAJ Income Tax Return AY 2016-17

These instructions are guidelines for filling the particulars in this Return Form. In case of any doubt, please refer to relevant provisions of the Income-tax Act, 1961 and the Income-tax Rules, 1962.

article author CA Chirag Chauhan

Posted On:  1 year ago


Why you should file your Income Tax Returns? Benefits of Filing Income Tax Returns

Most of the individuals who are non-filer of Income Tax Return are scared of filing of return thinking income tax department will track them and later send notices which will create trouble for them. Let me tell you, this is the myth. Income tax department never harass genuine tax payers. Other reason for non-filing are, “my employer has deducted tax at source on the salary income received by me hence I don't need to file my income tax returns. The Lazy one says “The deadline for filing tax returns is far away, why bother now.” If everyone follows the law and file return on time it has many benefits which are highlighted as follows

article author CA Chirag Chauhan

Posted On:  1 year ago


Download Income Tax Return form for Financial Year 2015-16 Assessment Year 2016-17

Every year Income Tax Form are released in Month of May. This year government has taken positive step in enabling forms in month of April itself, giving no room for extension of deadline to file your income tax returns. We Indians always wait till last minute to file the returns, let not repeat the same mistake we did last year, let us file much before time to avoid last minute rush and miss out on any deduction or exemption

article author CA Chirag Chauhan

Posted On:  1 year ago


India Introduces New E-Waste (Management) Rules

The Ministry of Environment, Forest and Climate Change has notified the E-Waste (Management) Rules, 2016 ("Rules 2016") in supersession of E-Waste (Management and Handling) Rules, 2011 ("Rules 2011"). The Rules 2016 will be effective from October 1, 2016.

article author One Roof Consultant

Posted On:  1 year ago


No payment of TDS by Non-resident on income not taxable in India-M/s. Sesa Resources Ltd. Vs DCIT UOI

Whether on the facts and in the circumstances of the case and in law, the ITAT was justified in upholding disallowance u/s 40(a)(ia) in respect of non-deduction of tax at source on payments of commission to non-resident sales agents, when it was clear from the provisions of the Act as also Circulars issued by the CBDT that the relevant amounts were not chargeable to tax under the Income Tax Act, 1961, in the hands of the non-resident recipients?

article author CA Chirag Chauhan

Posted On:  1 year ago


Notification of CBEC for exempting 10 type of Government service from Service tax - April 2016

G.S.R.….(E).-In exercise of the powers conferred by sub-section (1) of section 93 of the Finance Act, 1994 (32 of 1994), the Central Government being satisfied that it is necessary in the public interest so to do, hereby makes the following further amendments in the notification of the Government of India in the Ministry of Finance (Department of Revenue)

article author CA Chirag Chauhan

Posted On:  1 year ago


Special provision in respect of certain industrial undertakings in North- Eastern Region; section 10C of income tax act,1961

What were benefits of setting up unit in north-eastern region as per section 10C of Income tax act,1961 ?

article author CA Nikesh Sheth

Posted On:  1 year ago


Special provisions in respect of newly established hundred per cent export-oriented undertakings (Section 10B)

This article provides for Income tax provisions as to export oriented units under section 10B

article author CA Nikesh Sheth

Posted On:  1 year ago


Special provisions in respect of newly established Units in Special Economic Zones (Bare act section 10AA)

What are benefits of setting up Special Economic zone as per section 10AA of income tax act,1961 as updated with finance act 2015

article author CA Nikesh Sheth

Posted On:  1 year ago


Interest Payable on Refund adjusted against demand: SC CIT, Delhi-II Vs M/S. Jyotsna Holdings (P) LTD.

Where amount refundable to assessee was not immediately refunded but adjusted against demand for earlier assessment year, interest on said refund was to be allowed SC CIT, Delhi-II Vs M/S. Jyotsna Holdings (P) LTD.

article author CA Chirag Chauhan

Posted On:  1 year ago


Section 10A of income tax act 1961- Special provision in respect of newly established undertakings in free trade zone, etc.

Special provision in respect of newly established undertakings in free trade zone, etc.

article author CA Nikesh Sheth

Posted On:  1 year ago


Know everything about Panama Papers - Mossack Fonseca - Tax Heaven - Liberalized Remittance Scheme

The 'Panama Papers' are a set of confidential documents leaked from one of the biggest law firms of Panama - 'Mossack Fonseca'. The Panama Papers provide information about thousands of offshore entities, identities of their shareholders and directors. It listed various world leaders, public officials, billionaires, celebrities, sports stars and politicians

article author One Roof Consultant

Posted On:  1 year ago


Depreciation as per section 32 of income tax act,1961 (As updated with Finance act 2015)

Bare act portion of section 32 of Income tax act 1961 as updated with Finance act 2015

article author CA Nikesh Sheth

Posted On:  1 year ago


Section 28 of Income tax act 1961 as updated 2015 finance act

What should be considered as Income from business and profession, What need/need not be included as income from business profession ?

article author CA Nikesh Sheth

Posted On:  1 year ago


Things start up should consider before launching product/website

Every start up would be in hurry to launch its business but what they should understand is people consider your start up as one of the business that will help them resolve their problems. Point is they don’t expect you to be start up, they feel like they should get service as if you are matured company. Nothing wrong in that !!! Atleast as customer

article author CA Nikesh Sheth

Posted On:  1 year ago


Secure your Income Tax E Filing Account – Opt for Higher Security

In order to ensure that taxpayers are able to secure their E-filing account against any fraudulent attempts, the Income Tax Department has introduced a new facility called the “E-filing Vault”. In order to use this facility, taxpayers can log in to their E-filing Account and under their profile page select “E-filing Vault – higher security”.

article author One Roof Consultant

Posted On:  1 year ago


Step-wise Procedures and Guide for e-filing of Form 15G 15H in electronic form

Electronic formats have since been finalized and have been made live. Income Tax Department has also specified Instructions to e-File "Statement of Form 15G/15H which are reproduced here

article author One Roof Consultant