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Income Tax

How to deposit TDS on Immovable Property u/s 194-IA?

Indian Income Tax Updates ― Screenshot of each steps of how to deposit or pay TDS on Sale or Transfer of Immovable Property under section 194-IA, introduced by Finance Act, 2o13.The post How to deposit TDS on Immovable Property u/s 194-IA? appeared first on Indian Tax Updates.

Tags: Income Tax, TDS, Finance Act, Finance Act 2013, Finance Bill, Finance Bill 2013

Sanyam Jain ― 14 hr ago

No Need to Send ITR-V after E-Filings from A.Y. 2014-15

Indian Income Tax Updates ― At present two options are available for tax payers to e-file ITR, either e-file ITR by affixing digital signature or without affixing digital signature. In first case there is no need to send ITR-V to the I-T department’s CPC, based in...

Tags: Income Tax, News, Income Tax Return, ITR, ITR-V, Track ITR

Sanyam Jain ― 1 day ago

Elaborating Tax Treatment of Composite Rent

Indian Income Tax Updates ― Meaning of Composite Rent The landlord or owner of a property sometimes receives rent in respect of building let out including: (1) Other assets as for example furniture, fixtures, plant and machinery. (2) For other services provided in the ...

Tags: Income From House Property, Income Tax, Composite Rent, Section 22

Sanyam Jain ― 5 days ago

Bonus Stripping u/s 94(8) of Income Tax Act of India

Indian Income Tax Updates ― Yesterday I have posted an article on Dividend Stripping and Measures to curb it. I got one comment asking whether Dividend Stripping and Bonus Stripping are similar? So I thought of writing an article describing Bonus Stripping to clear the...

Tags: Income Tax, Bonus Shares, Bonus Stripping, Dividend Stripping, Section 94(7), Section 94(8)

Sanyam Jain ― 6 days ago

Measures to curb Dividend Stripping u/s 94(7) of Income Tax Act

Indian Income Tax Updates ― Strategy behind Dividend Stripping Dividend stripping is a strategy to reduce the tax burden, by which an investor gets tax free dividend by investing in securities (including units), shortly before the record date and exiting after the record ...

Tags: Income Tax, Dividend Stripping, Long Term Capital Losses, Mutual Fund, Section 10(34), Section 10(35)

Sanyam Jain ― 1 week 16 hr ago

Filing Income Tax Return without using any software

Indian Income Tax Updates ― How to e-File Income Tax Return without using any software? Every individual having income over 5 lakhs is required to file income tax return for the Assessment Year 2013-14, but half of them do not know how to file, either they go to tax...

Tags: Income Tax, Digital Signature, E-Filing, Efile, Efiling, Income Tax Return

Sanyam Jain ― 1 week 3 days ago

Cost Inflation Index for Financial Year 2013-14 Notified by CBDT

Indian Income Tax Updates ― CBDT (Central Board of Direct Taxes) has notified the Cost Inflation Index (CII) for the Financial Year 2013-14 at 939 vide Notification no.40/2013[F.NO.142/7/2013-TPL]/SO 1464(E), Dated June 6, 2013. Now Indexation of Cost of Acquisition and ...

Tags: Capital Gain, Income Tax, CBDT, Central Board Of Direct Taxes, CII, Cost Inflation Index

Sanyam Jain ― 1 week 3 days ago

Elucidating Specified Domestic Transactions under Transfer Pricing

Indian Income Tax Updates ― Transfer Pricing on Domestic Transactions The Transfer Pricing provisions has been introduced in india in the year 2001. Since then it has come a long way. Now, the Finance Act’ 2012 has extended the scope of Transfer Pricing provisions to...

Tags: Income Tax, Domestic Transactions, Section 10AA, Section 80-IA, Section 80-IAB, Section 80-IB

Sanyam Jain ― 1 week 4 days ago

Rules related to TDS on Immovable Properties u/s 194-IA

Indian Income Tax Updates ― TDS on Immovable Properties u/s 194-IA Income Tax Department vide notification no 39/2013 dated 31st May 2013 has released the provisions and rules related to section 194-IA i.e. TDS on transfer of certain immovable properties other than ...

Tags: Income Tax, TDS, CBDT, Central Board Of Direct Taxes, Form 16B, Form 24Q

Sanyam Jain ― 1 week 6 days ago

Mandatory E-filling of Tax Audit Report for AY 2013-14

Indian Income Tax Updates ― Mandatory E-FILLING of Chartered Accountant’s Tax Audit report under section 44AB, 92E & 115JB of Income Tax Act, 1961 Income Tax department vide Notification No. 34/2013/F.No.142/5/2013-TPL dated 01/05/2013 has made e-filing of tax ...

Tags: Income Tax, E-Filing, Form 29B, Form 3CA, Form 3CB, Form 3CD

Sanyam Jain ― 1 week 6 days ago

U.N. Officially Launches Practical Manual on Transfer Pricing for Developing Countries

Indian Income Tax Updates ― United Nations Practical Manual on Transfer Pricing The United Nations Practical Manual on Transfer Pricing for Developing Countries is a response to the need, oft en expressed by developing countries, for clearer guidance on the policy and...

Tags: Income Tax, Multinational Enterprises, OECD, Transfer Pricing, United Nations

Sanyam Jain ― 2 weeks ago

E Payment Mandatory for TDS on Immovable Property over Rs 50 lakh

Indian Income Tax Updates ― Tax Deduction at Source (TDS) on transfer of immovable properties other than agricultural land for consideration exceeding Rs.50 Lakh Finance Act, 2013 brought a new section 194-IA under TDS provisions to levy tax at the rate of 1% on the transfer ...

Tags: Income Tax, TDS, Finance Act, Finance Act 2013, Finance Bill, Finance Bill 2013

Sanyam Jain ― 2 weeks ago

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