income tax

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Original Technorati articles tagged “income tax”

• in Business
  Amazon Executive Fumbles in Front of UK Parliament
  Amazon's Director of Policy makes an embarrassing appearance in front of a parliamentary committee on the low tax paid by Amazon
  by cmimanagers / on Nov 13, 2012
• in Finance
  No Money? No Problem - Increase Tax!
  Illinois is considering a temporary, outrageous income tax hike of 75% to chip away at its deficit.
  by bloggindave / on Jan 11, 2011

Latest blogosphere posts tagged “income tax”

 

• How to make $30 billion and pay no corporate income tax, the Apple way

  
  — Authority:
  Apple went to Ireland, and it found a pot of gold. Or more precisely, it managed to bring in $30 billion in overseas profits over a four-year period without paying a dime of corporate income tax to the Irish, American or any other national government. That is one key conclusion in a new report from the Senate ...
  3 days ago

• Beyonce’s Father Owes $1.2 Million in IRS Back Taxes

  
  — Authority:
  It’s pretty clear Beyonce’s former manager and father, Mathew Knowles knows a thing or two about managing a superstar. However, it appears he’s less knowledgeable about what it means to owe back taxes to Uncle Sam. According to a Source article titled: “ Mo’ Money, Mo’ Problems! Mathew Knowles Owes 1.2 Mil ...
  3 days ago

• FEDERAL Income TAX IN US IS ILLEGAL

  
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  3 days ago

• Is Elmbridge in Surrey Britains Beverly Hills?

  
  The Guardian - guardian.co.uk — Authority: 986
  Elmbridge, whose residents include Gary Lineker and Cliff Richard, paid more in tax in 2010/11 than Google. So how does the leafy haven compare with its California counterpart? The wealthy district of Elmbridge in Surrey, just off the M25, paid more in tax in 2010/11 than Google did – 200 times more. This leafy ...
  3 days ago

• Duluth/Gwinnett CPA www.HisCPA.com A Christian CPA Firm

  
  — Authority:
  Duluth/Gwinnett CPA   www.HisCPA.com   A Christian CPA Firm Put our CPA to work for you to make sure you pay only your lowest legal tax. We work hard helping with Advice on: Entity Selection and Incorporating in Georgia www.hiscpa.com/article2.html Tax Analysis of LLC vs. S Corporations     ...
  3 days ago

• Download Excel Utility for E-Filing of ITR-1 and ITR-4S A.Y. 2013-14

  
  Indian Tax Updates — Authority: 137
  E-Filing 0f ITR-1 and ITR-4S for AY 2013-14 Excel utility for Income tax return Sahaj (ITR-1) and Sugam (ITR-4S) are now available for download and return e-filing. Income Tax form in pdf format is... [[ This is a content summary only. Visit www.indiantaxupdates.com for full links, other content, and more! ]]
  3 days ago

• Where are Britains highest tax bills?

  
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  Filed under: Mortgages AP Photo/Eugene Hoshiko A small corner of leafy Surrey has taken the top spot in the league table of the highest income tax bills per person. Residents of Elmbridge pay an astonishing £1.18 billion in income tax every year. That puts a number of the major cities in the shade. So who ...
  3 days ago

• S. 80IB Ginning and pressing of cotton amounts to manufacturing activity

  
  — Authority:
  The nature of processing of loose cotton into cotton bales after   sprinkling   water and mechanically pressing the same is similar to processing camphor powder into camphor cubes. Loose cotton in bulk quantity with lighter density is as a result of pressing converted intocotton bales and to that limited extent it ...
  4 days ago

• Commission paid to related parties for services rendered by them is allowable expenditure

  
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  Question No.(i) pertains to addition of Rs.33.33 lakhs (rounded off) made by the Assessing Officer towards the commission paid to related parties. The Assessing Officer made such addition despite the assessee pointing out that the parties to whom such commissions were paid were associated with the associated company ...
  4 days ago

• Stridhan of a lady seized from her ex-husband’s premises during search must be handed over to her

  
  — Authority:
  We further notice that the Family Court, Mumbai, has also passed an order on 22nd February 2007 in which while granting decree of dissolution of marriage, it is provided that the petitioner would be entitled to all those ornaments lying with the Income Tax Authority, at Ahmedabad. The issue is, therefore, sufficiently ...
  4 days ago

• Leave Travel Allowance to be Tax Exempt Only for Domestic Travel

  
  Indian Tax Updates — Authority: 137
  Leave travel allowance (LTA) to be tax exempt only for domestic travel Leave Travel Allowance is exempt from tax only when employee has utilized LTA for travel within India and cannot be clubbed with... [[ This is a content summary only. Visit www.indiantaxupdates.com for full links, other content, and more! ]]
  4 days ago

• Expense by tenant on house property repairs cannot be included in ALV

  
  — Authority:
  In the present set of facts, we have noted that the AO had considered the impugned repair expenditure as annual rent in the hands of the assessee which was without any basis. As far as the assessee was concerned, the deduction @ 30% is like a standard deduction as prescribed u/s.24(a) of IT Act, not necessarily ...
  1 week ago

• S.269SS not applies to transfer between two accounts by Journal Entry

  
  — Authority:
  Section 269SS is attracted when the loan or deposit taken or accepted otherwise than by account payee cheque or account payee bank draft and in the Explanation (iii) below Sec.2 69SS, it is mentioned that loan or deposits means “loan or deposit of money” and transfer between two accounts by way of journal entry ...
  1 week ago

• Happy Tax Freedom Day 2013 to Connecticut Taxpayers

  
  — Authority:
    Tax Freedom Day for the country was on April 18, 2013. This is the day when, on average, taxpayers have paid all of their taxes for the year and now begin to keep what they earn.  Tax Freedom Day in 2013 was 5 days later than last year. This is partially due to the American Taxpayer Relief Act passed in late ...
  1 week ago

• Finance Bill gets enacted as Act No.17 of 2013 wef 10th May,2013

  
  — Authority:
  Finance Bill gets enacted as Act No.17 of 2013; President gives assent on 10th May,2013
  1 week ago

• Form & mode of filling of Income Tax Return for AY 2013-14

  
  — Authority:
  CA Pardeep Kumar Relevant Sections of Income Tax Act, 1961: 139(1), 139(3), 139(4A), 139(4B), 139(4C), 139(4D), 142(1), 148(1), 153A All Applicable Return Forms for A Y 2013-14: ITR – 1 (SAHAJ), ITR – 2, ITR – 3, ITR -4S (SUGAM), ITR – 4, ITR – 5, ITR – 6, ITR – 7 Filling of Income [...]
  1 week ago

• Applicability of Transfer Pricing provisions to Specified Domestic Transactions

  
  — Authority:
  Applicability of transfer pricing provisions was earlier limited to International Transactions only. With effect from 01.04.2013, the scope of Transfer Pricing provisions is extended to Specified Domestic Transactions and will accordingly be applicable from A.Y. 2013-14.
  1 week ago

• Mandatory e-filling of Audit report u/s. 44AB, 92E & 115JB

  
  — Authority:
  Mandatory ELECTRONIC FILLING of Chartered Accountant’s report under section 44AB, 92E & 115JB of Income Tax Act, 1961 . Where an assessee is required to furnish a report of audit under section 44AB, 92E or 115JB, he shall furnish the same Electronically on or before the due date for furnishing the return of ...
  1 week ago

• CENVAT credit written off on surrender of Excise Registration Certificate is allowable as deduction u/s 37

  
  — Authority:
  In the facts of the present case, the assessee had paid CENVAT on purchase of raw material which was deposited in its PLA account for claiming the benefit of set off against the excise duty payable on the manufactured items i.e. branded yearn. The assessee was paying higher rate of excise duty on the raw [...]
  1 week ago

• 2014: Taxpayers Must Report Personal Health ID Info to IRS

  
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  When Obamacare’s individual mandate takes effect in 2014, all Americans who file income tax returns must complete an additional IRS tax form. The new form will require disclosure of a taxpayer’s personal identifying health information in order to determine compliance with the Affordable Care Act’s individual ...
  1 week ago

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