New NRI’s targeted in the India’s Income Tax Evasion Crackdown
The income tax authorities in India are looking into the ‘residential’ status of many non-resident Indians (NRIs) with an aim to target undisclosed assets overseas.... Read More
Diksha Garg
Failure to file Income Tax Returns: Fine or Jail?
Yes, it’s time for the spying eye of the taxman! The last date to file your I-T returns for the year 2018-19 is July 31.... Read More
Some of the Best Income Tax Judgements for 2018 that can help plan your income tax liability
4 min read
Each and every year, numerous judgments have been delivered on the Income Tax Act. Of all these cases, there are a few which have been... Read More
Prerequisites for Reopening of assessment beyond a period of 4 years
What is section 143(3) of the Income Tax Act? Section 143(3) under the Income Tax Act 1961 refers to the Income Tax Notice pertaining to... Read More
Tax Evaders can escape by paying penalty? New CBDT Norms state otherwise!
The Department of Income Tax has come up with revised guidelines according to which serious offenses committed under the benami and black money laws are... Read More
What are the Proposed Changes about Charitable Trusts?
The CBDT or Central Board of Direct Taxes has recently suggested some changes in the charitable trusts. A draft notification has been floated to make... Read More
For the Assessment Year 2011-12, the Petitioner NuPower Renewables Pvt. Ltd filed the income return on 29th September 2011, declaring loss of Rs.5.97 Crores (rounded... Read More
The Chase on Notional Income widens, but the loopholes prevail!
The year 1998 saw the dissolution of the Gift Tax Act which led to the creation of a very dynamic section-Section 56(2) of the Income... Read More
Fudging income, tax breaks gets tougher with the New Format of Form 16
A new format has been notified by the CBDT for Form 16, which is the salary TDS certificate. It would be requiring an in-depth break... Read More
Tax Queries on tax deductions pertaining to Long Term Capital Gains and SIPs
How to avoid long term capital gains tax under section 54 and 54F of the Income Tax Act, 1961? In order to understand how to... Read More
Major Changes Expected in Direct Tax Code 2025 and why these matter 
Can an assessee pay House Rent to his parents and claim relief? Would there be any legal complications? 
Boost Your Business & Reduce Taxes: A Guide to Maximizing Benefits Under Section 80JJAA 
What is remedy to taxpayer if the Tax deductor fails to deposit the TDS or fails to file TDS Return