Venkkatesh K Uncategorized andhra-pradesh, commercial-tax, e-Returns, India, indirect-tax, Taxation, VAT 29
After the Telanga Region is divided from Andhra Pradesh state the Commercial Tax Department of Andhra Pradesh state after bifurcation has changed its policies and the way of Monthly VAT Returns submission procedure also. In the 2015-2016 Financial Year, it has introduced a new electronic Filing System called Invoice Tracking System. And in this article […]
Venkkatesh K Uncategorized direct-tax, E-Filing, income-tax, India, questions-and-answers, Taxation 0
Filing Income Tax returns through Online is simple and easiest way. And most of the Assessees just opens their e-filing Account just one a year at the time of e-Filing their Income Tax returns. Few of them could forget their password to login. They can create a new password with Forgot Password feature. Reset Password […]
Venkkatesh K Uncategorized direct-tax, income-tax, India, Taxation 0
For the purpose of Income Tax the term Company has wider meaning in the provision of Income Tax Act, 1961 than the Companies Act, 1956. As per the Income Tax Act, 1961 the expression Company means Any Indian Company as defined in Section 2(26); or Any Body Corporate incorporated by or under the laws of […]
Venkkatesh K Uncategorized direct-tax, income-tax, India, Taxation 0
Hindu Undivided Famaly (HUF) has been treated as a separate entity for the purpose of Assessment as per the provisions of the Income Tax Act, 1961. HUF is not defined in the Act but it is included in the definition of the term Person under Section 2(31). But the expression defined in the Hindu Law […]
Venkkatesh K Uncategorized direct-tax, income-tax, India, Taxation 0
The term Individual means a natural person either he is male or female. And even a minor or an unsound minded person is also considered as Individual. In such a case the Assessment has to be made as per the Section 161(1) of Income Tax Act, 1961 on the Guardian or Manager of the Minor […]
Venkkatesh K Uncategorized direct-tax, income-tax, India, Taxation 0
In the definition of the Assessee the term Person is highlighted and that is closely connected with the latter. As well the term is also very important in charging of Income Tax point of view in respect of every person. And this term is defined in Section 2(31) of Income Tax Act, 1961. The list […]
Venkkatesh K Uncategorized andhra-pradesh, CST, India, indirect-tax, Statutory Forms, Taxation, VAT 0
Dealers will get their C Forms after they has requested through Commercial Tax Department website by submitting the C Forms Utilisation file. At the time Auditing they have to present the information regarding the C Forms either received from the customers or issued to the suppliers. If the counter foil or duplicate copy of the […]
Venkkatesh K Uncategorized direct-tax, income-tax, India, Taxation 0
This term is defined in Section 2(8) of Income Tax Act, 1961. This is nothing but a procedure by which the Income of an Assessee is determined by the Assessing Officer. It may be of Normal Assessment or Reassessment of an Income previously assessed.
Venkkatesh K Uncategorized direct-tax, income-tax, India, Taxation 0
This term is widely used in the provisions of Income Tax Act, 1961 and defined in Section 2(7). The Act defined this term as a Person who has to pay or payable Tax or any other sum of money under this Act. It includes every person whose proceedings are taken for the assessment of his […]
Venkkatesh K Uncategorized direct-tax, income-tax, India, Taxation 0
Section 2 of Income Tax Act, 1961 having the broad meaning of the various key terms and expressions used therein. In order to understand the provisions contained in the Act one must have through knowledge of the terms used in the provisions therein like Income, Assessee, etc., Apart that there are some specific commonly understood […]