30 November 2010
DON’T PANIC, IF INCOME TAX DEPARTMENT RAIDS YOU BY CA A. K. JAIN The term “Raid in Indian Income Tax Law” is incredulous and any unexpected encounter with IT sleuths generally leads to chaos and vacuity. If you are likely to experience such action it is better to familiarise with the subject, so that, the situation can be faced with confidence and serenity. Income Tax Raid is conducted with the sole objective to unearth tax avoidance. It is the process which authorizes IT department to search an...
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12 March 2003
SURVEY UNDER INCOME TAX ACT, 1961 BY CA A. K. JAIN Survey has not been defined in the Income Tax Act. According to Concise Oxford Dictionary, The expression "survey" means general view, casting of eyes or mind over somethings, inspection or investigation of the condition, amount, etc. of something, account given of result of this etc. According to Chambers 20th Century Dictionary, the meaning of the word 'survey' is to view comprehensively and extensively, to examine in detail, to examine the st...
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6 January 2003
FINANCIAL LIBERALISATION WITH REFERENCE TO VALUE ADDED TAX (VAT) BY CA A. K. JAIN 1. Introduction Value Added Tax is emerging as an effective tool of taxation in the hands of Governments internationally. In fact more than 100 countries around the world have accepted this as a way of taxation on commercial activities. Our neighboring countries like Bangladesh, Bhutan, Nepal and Pakistan have already recognized VAT. Developed countries including Australia, United States, USSR, UK have already intr...
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