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Articles, tagged with "income tax act 1961", page 1

Taxes

eForm16, an Online Income Tax Filing Process.

01st March 2011
At present we often hear about the words Form 16, Form 16A. What are Form 16, Form 16A and how these are useful to us? Mostly all the earning people are aware of Income Tax as per rule framed by the Government. Filing Income Tax returns is mandatory f...
Author: piranhaswebsolution
Taxes

How Tax Codes Are Made Up

21st February 2011
Are you confused about Sales Tax Items and Sales Tax Codes in QuickBooks? I was too! It took me forever to finally figure out what they actually did, how to get the sales tax liability report to look right, and where they showed up on that report. After r...
Author: Wilmer Irwin
Taxes

Debt Advice May Be Needed For Tax Code Victims With Underpaid Tax

18th February 2011
From the Items List, press Control-N. Select Sales Tax Item. Enter a name for the sales tax - something simple is fine, something that makes sense to you. Enter a more detailed description on the next line. Enter the tax rate, and choose the state reporti...
Author: Wilmer Irwin
Taxes

How Do Tax Code Changes in September Affect You

17th February 2011
First, select the Tax Item box. If this customer lives out of state or is otherwise non-taxable, select the Non Taxable sales tax item you established above. If the customer lives in-state or is otherwise taxable, select the Taxable sales tax item you est...
Author: Wilmer Irwin
Taxes

9. Tax collected by the Government is used to facilitate the lives of the subjects.

17th January 2011
The term income tax or wealth tax is not new and finds its origin in ancient times. Studies show even in primitive communities taxes were levied on income either in form of direct taxes like trading of merchandise, on land, poll tax or in form of indirect...
Author: piranhaswebsolution
Legal

Registration and Formation of NGOs in Various States of India

14th June 2010
NGO is the world famous non profit organization that exists separately of the state and carrying its business activities to produce benefits for others, who are usually outside the membership of the organization. NGO is famous for its feature of non-profi...
Author: goyalchaman
Legal

Investment Based Deduction

02nd October 2009
Kameswara Rao Challa Budget 2009 has taken a new initiative by introducing the concept of allowing deduction under income-tax for investment made in a new business 'based on investment' and 'not based on profit earned'. It has inserted section 35AD all...
Author: Taxmannlaw
Legal

Extra-Territorial Reach Of The Income-Tax Act, 1961

29th May 2009
K. R. Sampath 1. Recent judgments of the Mumbai High Court in the case of Vodafone International Holdings B.V. v. Union of India [2008] 175 Taxman 399 and of the Supreme Court in CIT v. Eli Lilly & Co (India) (P.) Ltd. [2009] 178 Taxman 505 (SC), have ...
Author: Taxmannlaw
Legal

Importance Of Notes On Accounts In The Context Of Computation Of Income For Mat

15th May 2009
T. N. Pandey 1. Section 115JB of the Income-tax Act, 1961 provides for levy of Minimum Alternate Tax (MAT) in case of what are popularly referred to as Zero tax companies. Uptill the assessment year 2006-07, levy of MAT was governed by section 115JA o...
Author: Taxmannlaw