Aditijh

Consequences of Failure to Deduct TDS 2 min read

• Income Tax

Consequences of Failure to Deduct TDS

Aditijh 9 years ago

Payment of tax to the government according to the TDS provisions as provided in the Section 201(1A) & Section 40(a) has to be made by... Read More

All about Representative Assessee 3 min read

• Income Tax

All about Representative Assessee

Aditijh 9 years ago

Section 160 (1) (i) of the Income Tax Act deals with the term “Representative Assessee” for all purposes of assessment of income tax. It refers... Read More

Mandatory Manual Income Tax Scrutiny Criteria F.Y. 2013-14 2 min read

• Income Tax

Mandatory Manual Income Tax Scrutiny Criteria F.Y. 2013-14

Aditijh 9 years ago

The Board via INSTRUCTION NO 10/2013 declared the manual selection criteria for Income Tax Scrutiny for the financial year 2013-2014. The Central Action Plan for F.Y.2013-2014 was used... Read More

Income Tax Scrutiny Aspects In India 3 min read

• Income Tax

Income Tax Scrutiny Aspects In India

Aditijh 9 years ago

In general, income tax department cannot assess all the income tax returns filed in one financial year. Hence, normally random scrutiny for assessing the assessee... Read More

Penalty for concealment 3 min read

• Income Tax

Penalty for concealment

Aditijh 9 years ago

There are different kinds of penalty imposed upon an assessee under the Indian Income Tax Act for defaulters under the different provisions of the Act.... Read More

One can avail Deductions for both House Rent Allowance and Home Loan 2 min read

• Income Tax

One can avail Deductions for both House Rent Allowance and Home Loan

Aditijh 9 years ago

A very common question that comes in one’s mind is that if someone claims a deduction for House Rent Allowance (HRA) against his taxable income,... Read More

Notice U/S 148 of the Income Tax Act, 1961 – assessment & reassessment 2 min read

• Income Tax

Notice U/S 148 of the Income Tax Act, 1961 – assessment & reassessment

Aditijh 9 years ago

The structure of the India Tax system is quite simple, detailed but differentiable in power among State, Central, and other local governments. There are some... Read More

TDS FAQ regarding Property Sale in India under Section 194-IA 3 min read

• Income Tax

TDS FAQ regarding Property Sale in India under Section 194-IA

Aditijh 9 years ago

1.    What is Withholding tax?  According to the new provision, 1% TDS has to be deducted on the purchasing price by the buyer of the... Read More

Which Is Better: Will or Gift Deed? 2 min read

• Income Tax

Which Is Better: Will or Gift Deed?

Aditijh 9 years ago

Query: I own a plot of land purchased from my own income and i wish to give it to one of my two sons. Please... Read More

Filing of revised return after issue of notice under section 143(2) is considered as voluntary disclosure in absence of specific particulars 5 min read

• Income Tax

Filing of revised return after issue of notice under section 143(2) is considered as voluntary disclosure in absence of specific particulars

Aditijh 9 years ago

The ITAT, Mumbai on 07.01.2015 passed a judgment stating that if an assessee files the revised return of income after the receipt of notice under... Read More