Better understanding of Assessment or Reassessment U/s 147 and 148 of Income Tax
Section 147 and 148 of the Income Tax Act permits the Income Tax Department to reopen and reassess one’s IT returns which already filed. Stay tuned... Read More
Diksha Garg
Capital Gains vs. Business Profits
3 min read
Capital gain arising out of holding shares for a short period will not convert it into business income. An Assessee has two separate portfolios one... Read More
The Importance of Form 16: Time to make a note of it, Taxpayers
Form 16 is a TDS (Tax Deducted at source) certificate which is issued by an employer/bank/company as they deduct tax while making payments to its... Read More
HUF- a tax planning tool to save Income tax
3 min read
No one wants to shed their hard earned money in the form of taxes, but unfortunately, there is no escape to that. The income tax... Read More
New House is in wife’s Name – Forget about tax-relief from the sale of the house
The Mumbai Bench of Income-Tax Appellate Tribunal (ITAT)'s denied the benefit to be sought from sec- 54 of the Income-tax Act. The reason behind this denial was that the new house bought by the taxpayer was not in his name but in the name of his wife and his adult daughter.... Read More
Reality of the tax-saving lucrative plans offered by the wealth Managers and the Bank Executives
3 min read
These days’ lots of Insurance companies are coming up with lucrative plans to attract the people. People, on the other hand, look for the plans... Read More
CBDT on STT requisites and Capital gains taxation- Cases where STT not Applicable
Securities Transaction Tax (STT) is a direct tax which is levied on acquisition and transfer of securities listed on the recognized stock exchanges. It is... Read More
Penalty for Professional Misconduct of Chartered Accountants
Any conduct or action by a Chartered Accountant that brings disrepute to the profession or the Institute is regarded as misconduct even if it’s not... Read More
No inquiry could be raised on Income tax returns if no notice
Every year the return has been filed by every earning member of the country. There are various queries regarding the Income tax return, now if... Read More
Supreme court Judgement: Tax Exemption Ambiguity-Benefit in favor of the Revenue Department
3 min read
The Supreme Court has ruled that the Assesse has to bear the burden to prove whether his/her case comes within the purview of the exemption... 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