An HUF is automatically constituted with the marriage of a person. HUF is a separate entity for income tax purposes under the provisions of Section 2(31) of the Income Tax Act.
A chart for TDS rates applicable for the assessment year 2011-2012.
A very useful pdf file for those who want to understand in detail the tax treatment of scientific research expenditure.
On 24.03.10, In Tax, by hemantmadhusudan
Minimum Alternate Tax (MAT) is payable by companies. The MAT rate for A.Y. 11-12 is 18%. Though there has been a consistent demand from companies from various sectors for its removal, the Government continues with this tax.
The article covers MAT in full detail. It also discusses about accounting aspects of MAT. MAT under Direct Tax Code has also been discussed in the article.
The pdf file contains amendments made in the Income Tax Act and Wealth Tax Act by Finance Act, 2009. The file has been prepared by Sitaram Education Center.
Thanks to Mr. Vivek Soni for permitting CAtuts to include this file in the site.
On 26.02.10, In News, by vidyutsethi
Key points of Union Budget 2010.
It was a sad event that the opposition walked out of the Parliament before letting the FM complete his budget presentation. Change in slab rates comes as a big relief to the small tax payers.
On 12.02.10, In Tax, by vidyutsethi
Section 13A of the Income Tax Act, 1961 is the section that covers the taxation of income of political parties.
This short tutorial summarises section 13A in an easy to understand form.