2018-12-23 What's New Task Force for drafting a New Direct Tax Legislation-reg. Amendment of Rules 2C, 2CA and 11AA and Form Nos 10G, 56 and 56G of the Income-tax Rules, 1962-draft notification for inputs from the stakeholders and the general public - reg.
2018-12-21 An income tax is a tax imposed on individuals or entities that varies with respective income or profits (taxable income). Income tax generally is computed as the product of a tax rate times taxable income. Taxation rates may vary by type or characteristics of the taxpayer.
2013-7-30 The Indian tax year is a financial year from 1 April to 31 March. The amount of tax payable is computed after reckoning income tax at prescribed rates and Surcharge (SC) computed on income tax at 5% (2% for non-Indian companies) for companies having income over Rs 10m . The aggregate of income
2018-12-7 In this part you can gain knowledge about various provisions of Income-tax Law and Foreign Exchange Management Act, 1999 (FEMA) which are useful to a non-resident. The first part deals with provisions of Income-tax Law and the second part deals with the provisions of FEMA.
2018-12-20 Get various Income Tax Returns (ITR) forms provided by Income Tax Department, Department of Revenue. Users can download ITR form-1, ITR form-2, ITR form-3, ITR form-4, ITR form-5, etc. Forms to be submitted by Scientific Research organisations, Charitable and Religious organisations and Charitable or Religious institutions are also given.
2018-12-22 The Income Tax Department NEVER asks for your PIN numbers, passwords or similar access information for credit cards, banks or other financial accounts through e-mail.. The Income Tax Department appeals to taxpayers NOT to respond to such e-mails and NOT to share information relating to their credit card, bank and other financial accounts.
2018-12-22 The CBDT administers the Income Tax Department, which is a part of the Department of Revenue under the Ministry of Finance, Govt. of India. Income tax is a key source of funds that the government uses to fund its activities and serve the public. The Income Tax Department is the biggest revenue mobilizer for the Government.
2018-2-6 2. In terms of Section 194IA of the Income-tax Act, 1961, acquisition of non-agricultural immovable property from a resident transferor for a consideration of INR 50 lacs or more obligates the buyer to deduct 1% of the consideration as income-tax at source. 3.
2018-1-25 Corporate Income Tax in India; Corporate Income Tax in India. January 24, ... (PoEM), in that year, is in India. PoEM is the place where key management and commercial decisions are made, particular decisions that are necessary for the conduct of the business of an entity as a whole. This PoEM rule came into force on April 1, 2017.
2018-5-26 Bussiness Management News in Hindi: The Income Tax Department, also referred to as IT Department, is a government agency in charge of monitoring the income tax collection by the Government of India. It functions under the Department of Revenue of the Ministry of Finance.
In order to review the existing Income-tax Act, 1961 and to draft a new direct tax law in consonance with economic needs of the country, a Task Force was constituted by the Government of India vide Office Order of even number dated November 22, 2017 under the Convenorship of the then Member (Legislation), CBDT, who has since superannuated from Government Service.
2018-12-22 The tonnage tax scheme, a presumptive tax provision, can be chosen by a non-resident company that has a place of effective management (PoEM) in India, owns at least one qualifying ship, and whose main objective is to carry on the business of operating 'qualifying ships'.
2018-12-16 The Income Tax Department, also referred to as IT Department, is a government agency in charge of monitoring the income tax collection by the Government of India. It functions under the Department of Revenue of the Ministry of Finance. It is responsible for administering following direct taxation acts passed by Parliament of India.
2018-12-20 What are the current income tax rates for residents and non-residents in India? Tax rates for individuals are common for all, irrespective of their residential status. The income tax rates proposed for assessment year 2018-19 (tax year 2017-18) are as follows: Proposed Income tax rates table for the tax year 2017-18
2015-6-3 Tax Risks in India* Survey insights perspectives Tax and regulatory services *connectedthinking. ... income tax (73.1%) and service tax (56.7%) were rated as the most worrisome risks. Tax Risk Perception Challenges ... the CFO who shouldered the responsibility of tax management policy and planning with the ﬁnance and tax departments
Tax management is related with the operational aspect of payment of tax. Tax Management means doing planning, organizing, directing, coordinating and controlling taxation affairs aimed to improve efficiency. The improvement of efficiency will in turn increase the company’s profit. Thus Tax planning is part of Tax Management. Gives you the ...
Please send the duly signed Form ITR-V to “Centralized Processing Centre, Income Tax Department, Bengaluru 560500”, by ORDINARY POST OR SPEED POST ONLY, within 120 days from date of transmitting the data electronically. Form ITR-V shall not be received in any other office of the Income-tax Department or in any other manner.
2018-12-11 The Income Tax Department, also referred to as IT Department, is a government agency in charge of monitoring the income tax collection by the Government of India. It functions under the Department of Revenue of the Ministry of Finance. It is responsible for administering following direct taxation acts passed by Parliament of India.
Tax Advocate India provides a wide range of market entry services, income tax services, company formation, foreign investment approvals, Payroll management, Management Audits, Internal Audits, Statutory Audits, Taxation law firm in New Delhi, best business taxation lawyer in India, Accounting Services and other statutory compliances that need to be done by various organizations either ...
2002-9-6 A resident company is liable to Income Tax in India on its WORLD income i.e. Income received, accrued or arisen in India and that which accrues or arises outside India. A non-resident company is liable to income tax in respect of income received or deemed to be received in India or which accrues or arises or is deemed to accrue or arise in India.
2015-8-28 Further, a non-resident individual, whose income during the tax year comprises only of investment income or income by way of long-term capital gains or both, does not necessarily need to file an income tax return in India. Also, a return is not required if the necessary tax has already been deducted at source from such income.
2015-8-28 Today is the last date for filing your income tax return for AY2017-18. In fact, when you are earning income, reporting of income and filing of taxes are inevitable. A bit of planning and organizing data regarding the various income sources can make the income-tax return (ITR) filing process much simpler.
Tax planning is a legal way of reducing income tax liabilities, however caution has to be maintained to ensure that the taxpayer isn’t knowingly indulging in tax evasion or tax avoidance. Tax Planning in India: In India, there are a number of tax saving options for all taxpayers.
The Income Tax Act 1961 Income tax act is the charging Statute of Income Tax in India. It provides for levy, administration, collection and recovery of Income Tax. Recently the Government of India has brought out a draft statute called the "Direct Taxes Code" intended to replace the Income Tax Act, 1961 and the Wealth Tax Act, 1957.
In this case the enterprise will have to make tax adjustments (adjusting its taxable income and the tax base of the relevant asset), pay additional tax and a late fee. These may have an impact on the implementation of the original restructuring programme. The follow-up management and risk control after tax treatment policy is selected.
Our Income Tax software is fully integrated with our Payroll software and allows employees to plan their taxes accurately at any time during the financial year. Seamless integration Our Income Tax module is seamlessly integrated with the rest of the modules in our Human Resources Management System.