• One of the most disputed arguments between assessee and income tax department is that whether payments made towards specified expenditure attracts disqualification u/s 40(a) (ia) and applicability of this section to provisions made at the year end and its implications.

    Following are the views expressed by the author in this respect.

    01. The assessee must prepare his books of accounts following the mercantile system of

  • Opening :

    The entire economy of the world revolves around one universal statement – “Somebody’s income is somebody’s payment”. TDS drives it origin from this universal phenomenon. A school of thought struck upon the idea of taxing assessees the other way round. You may be smart enough to conceal income, but how about concealing

  • As CBDT has issued an important circular [CIRCULAR NO. 01/2012 [F.No. 276/34/2011-IT(B)], DATED 9-4-2012] regarding issuance of TDS certificate in Form 16A in respect of all sums deducted on or after 01-04-2012.

    As per this circular:-


  • In Tamilnadu, The Tamilnadu Value Added Tax, 2006 received the accent of the Governor of Tamilnadu on the 14th of December, 2006 and was enacted in the Legislature as Act No. 36 of 2006. This act repealed TNGST Act, 1959 and TNAST Act, 1970.

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