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Posted On:  1 year ago


Payment of Bonus Act- Adjustment of customary bonus, principle of set on and set off and Recovery of the bonus.

This article gives an overview on Adjustment of customary bonus or interim bonus payable to employees, the principle of set on and set off and procedure is to be followed by the employee for Recovery of the bonus due from an employer.

article author One Roof Consultant

Posted On:  1 year ago


Payment of Bonus Act – Applicability, Eligibility, Disqualification, Payment of Minimum and Maximum Bonus

This article gives an overview on basic provisions, purpose, object, applicability, eligibility, disqualifications, Payment of minimum & maximum bonus, award, banking company, co-operative society, corporation and also principle behind fixing a minimum and maximum limit for payment of bonus

article author One Roof Consultant

Posted On:  1 year ago


Section 14A read with Rule 8D

Very Impressive analysis as said by many other chartered accountant and tax professional;

article author Vikas Ranjan

Posted On:  1 year ago


Profit on sale of rural agricultural

How to account for MAT in case of sale of agriculture land ? Case law on MAT treatment in case of sale of agriculture land

article author Vikas Ranjan

Posted On:  1 year ago


Statement of Financial Transactions and Reportable Accounts (AIR - Annual Information Return)

This article provides the various provisions related to Statement of Financial Transactions and Reportable Accounts who is required to furnish Statement of Financial Transactions and Reportable Accounts, what is the due date for filing the return.

article author CA Chirag Chauhan

Posted On:  1 year ago


Set Off and Carry Forward of Losses, applicability and restrictions as per Income Tax FAQ

If you make profits Income Tax Department will surely tax you. What if you make Losses in your business or Capital Loss? Income tax act provides the assessee to set off and Carry Forward of Losses of current year for the future year. This article provides an overview on how to set off and carry forward losses and which loss can be carried forwarded or gets setoff.

article author CA Chirag Chauhan

Posted On:  1 year ago


Resident Status Classification for individual, HUF, Company as per Income Tax and FEMA – FAQ.

The article briefly provides the different class of resident status as per income tax act, how to determine resident status of individual, HUF and Compnay. Taxability of income in hands of non resident and Resident, various provisions of income tax act in relation to above and exemptions applicable

article author CA Chirag Chauhan

Posted On:  1 year ago


How to do Computation of Tax as per Income Tax for salaried House property, Business and Profession and Capital Gains

Individual has played his role of earning income for his living, survival, and to meet need of family. He must know how much part must be sacrificed as tax by his side on ongoing basis so that he can plan accordingly. To find out this answer he must compute his total income. This article provides the various FAQs related to Computation of Tax for individuals and corporate bodies.

article author CA Chirag Chauhan

Posted On:  1 year ago


Clubbing of Income Provision applicable for Spouse, Minor Child, Family Members and HUF - FAQ

This article deals with the various provision of income tax related to clubbing of income. What is clubbing of income? Under what cases clubbing of income is possible. Transfer of Income and asset with Family members, Spouse, Minor Child and others. Provision of Gifts and Tax applicability and Exemption

article author CA Chirag Chauhan

Posted On:  1 year ago


Capital Gains Meaning, Calculation of Long Term Short Term Capital Gains, Gift and Exemption from Capital Gains

Know basics of Capital gains as per income tax act, 1961, This article addressees what is capital asset and capital gain as per income tax act, 1961.

article author CA Chirag Chauhan

Posted On:  1 year ago


Basic of Tax Deduction and Collection Account Number – TAN -FAQ

Assessing deducting Tax at Source sometime has many question in his mind in relation to TAN Number and application of same. The article provide FAQ with respect to Tax Deduction and Collection Account Number

article author CA Chirag Chauhan

Posted On:  1 year ago


Basic of Tax Audit, due dates and penal provision as per Income Tax Act– FAQ

The article provide brief on what is Tax Audit as per Income Tax Act, applicability for Individuals, forms of Audit and due date of Tax Audit and Penal Provision for noncompliance of audit provision.

article author CA Chirag Chauhan

Posted On:  1 year ago


Basic of Permanent Account Number PAN as per Income Tax - FAQ

A layman at the time of opening his bank account must be asked by the bank officials to provide his PAN no and copy of his PAN. The person may feel that he is hearing this word (PAN) for the first time and gets confused. By having a view on this article he may get his confusion run away from him. This article provides an overview on provisions related to PAN. What is PAN what are the various benefits obtained from PAN. Unique features hidden in PAN no who is liable to apply for PAN

article author CA Chirag Chauhan

Posted On:  1 year ago


Assessments under Income Tax -Summary assessment 143(1), Scrutiny assessment 143(3), Best judgment assessment 144, Income escaping assessment 147

Assessment means detailed checking of the return filed it is done by the income tax department. This article provides on overview on assessment carried out by the income tax department, Summary assessment, Scrutiny assessment, Best judgment assessment, Best judgment assessment procedure and time limit and other provision related to assessment.

article author CA Chirag Chauhan

Posted On:  1 year ago


Key Highlights from Economic Survey 2016-17

Economic Survey 2015-16 sees the economy growing between 7 to 7.75%. It also says that there is a case for reviewing the fiscal framework. The Survey is a 300-400 page document, prepared by the Chief Economic Advisor, currently Arvind Subramanian

article author CA Chirag Chauhan

Posted On:  1 year ago


Top 100 Highlights of Railway Budget 2016 By Suresh Prabhu

Mr Suresh Prabhu presented his second rail budget and he has tried to cover all the aspects and provided a balance budget which looks to utilize technology and upgrading the rail infrastructure.

article author CA Chirag Chauhan

Posted On:  1 year ago


Tax on Presumptive Taxation Scheme 44AD and 44AE Eligibility Applicability and Advantages - FAQ

This article gives a brief detail on presumptive taxation scheme that what is presumptive taxation scheme to whom it is applicable how to compute presumptive income. Is the person liable to maintain books under the act if yes then which books to be maintain.

article author CA Chirag Chauhan

Posted On:  1 year ago


Tax Deducted at Source (TDS) Applicable Rates for Non Resident and Resident and Exemption - FAQ

This article is dealing with TDS what is the rate of TDS on various transactions which transactions comes under TDS category for tax deduction

article author CA Chirag Chauhan

Posted On:  1 year ago


FAQs on Filing Income Tax Return – ITR Forms applicability and Process of Filing

This article is about the various queries that arise in the mind of a taxpayer at the time filing the return of income tax i.e. which form is applicable to him or while ITR form to file, where to file the income tax return, Whom to use which ITR return.

article author CA Chirag Chauhan