Manager

AO cannot increase the scope of scrutiny without prior approval of the CIT 5 min read

• Income Tax

AO cannot increase the scope of scrutiny without prior approval of the CIT

Manager 8 years ago

The ITAT, Amritsar has recently held in the case of Smt. Gurpreet Kaur (PAN: BRTPK1192A) vs. Income Tax Officer, H/No.812, Rishi Nagar, Ward III (4),... Read More

Which Accounts can be made subject to Special Audit under section 142(2A) by Assessing Officer? 2 min read

• Income Tax

Which Accounts can be made subject to Special Audit under section 142(2A) by Assessing Officer?

Manager 8 years ago

The amendment in the taxation laws in 1975, brought in to existence the sub-section (2A) to section 142 of the Income tax act of India.... Read More

Income Tax Scrutiny Can you Save Yourself From IT? 2 min read

• Income Tax

Income Tax Scrutiny Can you Save Yourself From IT?

Manager 8 years ago

Income Tax Scrutiny is Chosen at Random Evasion of income tax is a serious crime and everyone is expected to pay tax on the income... Read More

All about income tax scrutiny 3 min read

• Income Tax

All about income tax scrutiny

Manager 8 years ago

It is practically not possible for the Income Tax Department to make regular assessment of all the returns filed before them in any assessment year.... Read More

Are You Eligible For Income Tax Rebate U/S 87A 2 min read

• Income Tax

Are You Eligible For Income Tax Rebate U/S 87A

Manager 8 years ago

In budget 2013-14, taxpayers’ focus was on Section 87A. This section is added in Income Tax act 1961 for the benefit of common man. Section... Read More

Deductions u/s 80 for Salaried employees under Indian Income Tax 8 min read

• Income Tax

Deductions u/s 80 for Salaried employees under Indian Income Tax

Manager 8 years ago

The Income Tax Act provides that on determination of the gross total income of an assessee after considering income from all the heads, certain deductions there from may... Read More

An Assessing Officer can apply the proviso to Section 13 rejecting the accounts of the assessee if he fails to properly deduce his profits and gains 3 min read

• Income Tax

An Assessing Officer can apply the proviso to Section 13 rejecting the accounts of the assessee if he fails to properly deduce his profits and gains

Manager 8 years ago

The Punjab & Haryana High Court in the case of Jhandu Mal Tara Chand Rice Mills vs. the Commissioner Of Income Tax , 1969 73... Read More

An assessee cannot be deprived of credit for TDS due to any anomaly in Form 26AS filed by his deductor 2 min read

• Income Tax

An assessee cannot be deprived of credit for TDS due to any anomaly in Form 26AS filed by his deductor

Manager 8 years ago

It has been recently held in the case of LSG Sky Chef (India) Pvt. Ltd vs. CIT (ITAT Mumbai) that an assessee cannot be deprived... Read More

APPEALS PROCEEDINGS UNDER INCOME TAX ACT, 1961 27 min read

• Income Tax

APPEALS PROCEEDINGS UNDER INCOME TAX ACT, 1961

Manager 8 years ago

The term appeal has nowhere been defined under the Income Tax Act. However as per Mozley and Whiteley’s Law Dictionary “Appeal is a complaint to... Read More

Addition cannot be allowed based on a disclosure under pressure if no incriminating material is discovered 7 min read

• Income Tax

Addition cannot be allowed based on a disclosure under pressure if no incriminating material is discovered

Manager 8 years ago

It has been held by the ITAT Jaipur in the case of Shri Basant Bansal, C-13, Sushant Lok 1, Gurgaon – 122 002, having PAN... Read More